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Sheldon Adelson Threatening to Halt Pennsylvania Casino Investment
- October 3, 2016 By Oliver Young -
It seems that Sheldon Adelson will use everything within his power in an attempt to prevent online gambling legalisation in the United States, both on federal and state level.
While his anti-gambling ally Cotton is fighting Adelson’s cause in the Senate, Sheldon is on a mission to stop Pennsylvanian legislators from legalising online gambling in the state, even though the House of Representatives passed the online gambling bill earlier this summer.
Adelson owns a land-based casino in Pennsylvania and he is using it in order to gain leverage in the attempt to stop the legalisation. However, Pennsylvania’s budget will benefit from the online gambling legalisation and it is highly unlikely that Adelson will manage to change anyone’s mind with his threats.
Las Vegas Sand Will Not Invest If Online Gambling Is Legalised
The local press in Pennsylvania has reported that a representative of Adelson’s land-based casino, Bethlehem Sands stated that the company will not be committed to investing in the casino if the state of Pennsylvania legalises online gambling.
Bethlehem Sands is the only casino in the state of Pennsylvania that is opposed to online gambling. The Sands Corporation planned to invest an amount of $40 million into the casino. The money was to be used to improve the property.
It has been suggested that the outcome of the upcoming referendum in New Jersey will also influence Adelson’s decision.
It should be noted that a representative of Las Vegas Sands stated that despite the fact that the company is opposed to online gambling legalisation in Pennsylvania, such a decision will not be the end of the company’s investment in the state.
Some have claimed that Adelson’s threat might influence some of the lawmakers, especially because no investment would mean fewer jobs in the area. That, in addition to opposition on ethical grounds, are the two main reasons why a lawmaker would be against online gambling legalisation.
Adelson Is the Biggest Donor in the 2016 Election Campaign
The reason why Adelson is such a staunch opponent of online gambling is the fact that he makes most of his huge profits from land-based gambling. It has recently been reported that this 83-yearold Bostonian is the king of Asia’s casinos, despite the fact that he doesn’t know a word of Chinese.
When Macau announced that it will issue casino licences to three companies, Adelson was quick to grasp the opportunity and has invested over $14 billion. Macau’s gambling revenues exceed those of Las Vegas and Adelson and his company own 13,000 hotel in Macau’s gambling district.
Adelson’s wealth and his position within the American society allow him to be one of the most powerful anti-online gambling lobbyists. His wealth is estimated at over $29 billion.
He is a supporter of the Republican Party and earlier this year he pledged to donate over $100 million in Donald Trump’s presidential campaign. That makes him the biggest donor in the 2016 election campaign, for either party. Experts believe that an eventual victory for Trump would result in tougher attitude towards online gambling.