Praised by Israeli Prime Minister Benjamin Netanyahu as a "huge Jewish patriot," Adelson died on Monday from cancer, said Las Vegas Sands Corp, which he turned into the world's largest casino company.
"It is a great loss for the Jewish people," Netanyahu - a close friend - was also quoted as saying by the newspaper, which Adelson launched in 2007.
Known for extensive philanthropy and business ventures in Israel and donations to Jewish causes, Adelson saw his cherished goal for the city come to fruition in 2017, when US President Donald Trump recognized Jerusalem as Israel's capital.
That move broke with decades of US policy, placed America at odds with most of the rest of the world, and infuriated Palestinians who claim the east of the city as the capital of a putative future state.
The ancient Jewish cemetery where Adelson was buried is on a limestone ridge that overlooks Jerusalem's walled Old City - which contains sites holy to Jews, Christians and Muslims.