Posts Tagged ‘Sheldon Adelson’

(Anti-)Online Gambling Legislation Refiled and Reshuffled

APCW Perspectives

by , Oct 2, 2016 | 6:58 pm

Getting my gaming commentary game back on, with an appearance as a talking head-and-torso for a special Global Gaming Expo episode of APCW Perspectives, featuring venerable online gambling gadfly J. Todd at the mic.

My part begins at about 5:50, after J. and Becky Liggero talk about the American Gaming Association’s new push for nationwide legal sports betting. (Go teams!)

The TL;DR — Kahnawake Gaming Commission is pulling its casinos out of US markets to do business with New Jersey, further putting the squeeze on gray-market online gambling operators … and it’s probably not good that the Senate introduced SB 3376, a placeholder bill for a revised version of Sheldon Adelson’s Restoration of America’s Wire Act, um, Act, aka RAWA. Even if the new bill is going nowhere, simply having it in the legislative mix poses a threat. Oh, and happy soon-to-be 10th birthday UIGEA!

UK Gambling Mergers and US Gambling Politics

APCW Perspectives Weekly

by , May 24, 2016 | 6:06 pm

If you thought RAWA was dead, think again! Sheldon Adelson has some politicians in his pocket more than happy to sell their integrity to do his bidding. Also, mergers in the U.K. could spell more trouble for William Hill. Links to the stories from the show are listed below:

RAWA Still Raging:…
New Jersey Online Profits:…
Pennsylvania Online Bill:…
Fantasy Hearings:…
Ladbrokes / Gala Coral Merger:…
Full Tilt Merger and Affiliates:…

Happy Birthday, Sheldon Adelson!

Into his ninth decade, casino mogul has everything except poker's love

by , Aug 4, 2014 | 4:40 am

Sheldon Adelson turns 81 today, which makes him still just a kid according to my grandmother. We of course all know Adelson is a wealthy man, but I didn’t realize he was the richest person in Nevada (like by far). I mean sure, he woulda made my shortlist if you asked, but I didn’t really place his economic stature in context until seeing this bit of data porn showing who has the largest net worth by state.


So what do you get a man who has everything? OK, maybe Adelson doesn’t have everything, but he does have more personal wealth than the GDP of nearly 100 independent nations. He has so much money ($35.7 billion) that he could singlehandedly pay off ALL of Caesars’ debt and still have more than $12 billion left over — enough to still be the richest person in Nevada, as well as 34 other American states. Sooo … maybe just close your eyes and make a wish?

Adelson Lashes out at MGM, Caesars

Crankster CEO of LV Sands disparages Big Casino colleagues for lower room rates

by , Aug 13, 2013 | 10:08 pm

Having navigated MGM Resorts International through almost four years of turbulent economic waters, Jim Murren has grown used to hearing negative comments from haters and detractors.

What surprised Murren, however, were some recent vitriolic remarks directed at his company from a competing corporate office down the street.

Las Vegas Sands Corp. Chairman Sheldon Adelson used his quarterly earnings conference call to blame Caesars Entertainment Corp. and MGM Resorts for driving down hotel room rates along the Strip, thus, diminishing Adelson’s earnings in Las Vegas.

Adelson claimed the industry-leading long-term debt carried by Caesars ($23.7 billion) and MGM Resorts ($13.1 billion) affects the way they do business, such as lowered room rates to drive up occupancy.

“I don’t necessarily blame them,” Adelson said. “I suppose if I were in that position, I might do the same thing.”

In an interview following MGM Resorts’ quarterly earnings conference call last week, Murren, MGM’s chairman and CEO, said his company and Caesars have a better understanding of how Las Vegas works these days than Adelson does. Las Vegas Sands drew 86 percent of its quarterly revenue from Asia.


Cleaning up or Cleaning out?

@OPReport's Online Poker Bulletin

by , Jul 2, 2013 | 6:30 am

Weekly bulletin from for the week of July 1st …



#1. Bet Raise Fold – Sunday was the worldwide release of the much-anticipated online poker documentary that has – so far – garnered an overwhelmingly positive response from advance viewers. Buy your copy here. If you supported the KickStarter campaign, you should have already received your link to view the movie via email.

#2. Kentucky – After successfully extracting a cool $15mm from, Kentucky looks set to continue their litigious ways against other operators that took online bets from the state (and have some resources to target). I’ve been told to expect a significant legal filing related to Kentucky’s actions this week.

#3. PokerStars vs ACC – The ACC filed their response last week to Stars’ application for interlocutory appeal. While we don’t have a firm deadline for a ruling, I can’t imagine the courts are interested in letting this battle drag on much longer, especially given that it clouds the ability of the ACC to pursue an alternative sale. The holiday may result in a delay, but a decision could still be forthcoming in the next few days.




On this week’s Rabbit Hunt, Mark and I cover the One Drop action at the WSOP, debate the best way of responding to Adelson and try our best to read the tea leaves of PokerStars’s battle with the ACC.

QuadJacks ran an article of mine imploring people to Stop Writing Responses to Sheldon Adelson. Finally, I offered up some thoughts on the Online Poker Compact Conundrum in the regulated U.S. market.



#GoodRead – Brad Polizzano penned an informative and concise rundown of the 2013 NCLGS at QuadJacks.


Get in touch

Chris Grove / / @OPReport / Google + / Skype: chrisgrove404

New Jersey for Sale?

@OPReport's Online Poker Bulletin

by , Jun 24, 2013 | 10:00 pm

Weekly bulletin from for June 24th …



#1. New Jersey – With a weekend deadline for potential licensees to announce partnerships, expect a flurry of activity – and possibly even the announcement of a casino sale agreement – in the next few days. Keep a close eye on Station / Ultimate Gaming, who have hinted they’ll be live in New Jersey at launch, and also the Trump properties.

#2. DiCristina – The general sense of observers is that the DiCristina hearing went well for poker players. Read a synopsis of the hearing at TwoPlusTwo (start at post #18) and at Diamond Flush, and then read Grange’s sober assessment of exactly what impact a favorable ruling would have on the legal status of online poker in the United States. There is no firm timeline for a decision, which could come as early as this week.

#3. Sheldon Adelson – The LVS CEO raised the hackles of online poker players with an opinion piece at Forbes  slamming online gambling regulation and a follow up interview with Bloomberg. Expect more information / insight in the days to come into why Adelson is choosing to publicly attack an industry he once embraced at this particular point in time – and perhaps another blast from Adelson.




On this week’s Rabbit Hunt, Mark and I cover Adelson’s slam of online poker, WSOP happenings of note and the DiCristina hearing.

And here’s the latest installment of OPR’s comprehensive Online Poker in the States, providing regulatory updates for all relevant states in the U.S..



#GoodRead – Kim Lund articulates the Migratory Patterns of Online Poker Players in an interesting piece over at QuadJacks.

@Follow – Great land-based casino coverage from David McKee over at @StiffsGeorges.


Get in touch

Chris Grove / / @OPReport / Google + / Skype: chrisgrove404

Las Vegas Sands Sees Record Q1 Profit of $572 million

Singapore, China dominance key in Adelson's latest win

by , May 14, 2013 | 2:00 pm

SheldonAdelsonLas Vegas Sands Corp., the gaming company controlled by billionaire Sheldon Adelson, reported first-quarter earnings Wednesday that easily surpassed analysts’ estimates as growth at its Macau properties accelerated.

The casino company last year increased its share of the Macau market with the opening of Sands Cotai Central, its fourth casino in the Chinese gambling enclave. Las Vegas Sands is building The Parisian, its second Cotai Strip resort at a cost of $3 billion.

The Parisian is scheduled to open in late 2015. Adelson told analysts in a conference Wednesday the company is seeking government approval to build its Tropical Garden retail mall in Cotai, a development with 900,000 square feet of “value oriented retail.”

Las Vegas Sands net income for the quarter was $572 million, or 69 cents per share, compared with $498.9 million, or 61 cents per shares, in the first quarter of 2012. Analysts surveyed by Yahoo Finance expected earnings of 67 cents.


Las Vegas Sands Disputes Chinese Bribery Allegations

DOJ, SEC investigations ongoing, along with anti-Adelson media bias?

by , Mar 7, 2013 | 2:00 pm

SheldonAdelsonLas Vegas Sands Corp. called media accounts of the company’s self-reporting that it may have violated federal law that bans the bribing of foreign public officials “misleading and sensationalistic.”

In a statement released Sunday night, the casino operator, which is more than 53 percent owned by billionaire Sheldon Adelson, said it did not violate the anti-bribery provisions of the Foreign Corrupt Practices Act.

On Friday, Las Vegas Sands, in a one-sentence statement within the company’s annual report filing with the Securities and Exchange Commission, said its audit committee found possible violations of the Foreign Corrupt Practices Act.

“As part of the annual audit of the company’s financial statements, the Audit Committee advised the company and its independent accountants that it had reached certain preliminary findings, including that there were likely violations of the books and records and internal controls provisions of the FCPA,” Las Vegas Sands said in its Form 10-K filing.


Crotchety Billionaire Problems: Adelson Sues Reporter for Libel

WSJ poker writer assisted with offending article

by , Feb 28, 2013 | 4:00 pm

SheldonAdelsonLas Vegas Sands Corp. Chairman Sheldon Adelson has sued a Wall Street Journal reporter for alleged libel over the way he was described in a December article concerning his company’s legal battle with its former Macau operations chief executive.

According to the newspaper, Adelson filed the lawsuit Feb. 22 in Hong Kong’s Court of First Instance and is seeking “damages, including aggravated, exemplary and special damages.”

The article ran under the headline “Fired Executive Rankles Casino Industry” in the U.S. edition of the newspaper and appeared in overseas editions as well as online.

The article compared Steven Jacobs as “a 6-foot-5-inch-tall Ivy League graduate who colleagues say rarely curses,” with Adelson, described as “a scrappy, foul-mouthed billionaire from working-class Dorchester, Mass.”


Adelson’s Political Bankroll, Table Image to Grow

Casino billionaire vows to double his push to shape Washington DC

by , Dec 14, 2012 | 10:00 am

SheldonAdelsonAfter contributing as much as $150 million to Republican campaigns and causes to become the top GOP political donor this year, Las Vegas Sands Corp. Chairman Sheldon Adelson isn’t putting away his checkbook.

Instead, the billionaire casino magnate has vowed to double his contributions during the 2016 wide-open White House contest, becoming an unparalleled political power broker courted by Republican leaders on Capitol Hill and presidential hopefuls alike.

Adelson’s millions also may help rebuild the Republican Party in Nevada and finance efforts to reach out to Hispanics, a key voting bloc, GOP insiders and fundraisers say.

“By the time 2015 rolls around, Adelson will probably be on a first-name basis with every Republican candidate serious about pursuing the nomination,” said Jennifer Duffy, an analyst with The Cook Political Report.


Piles of Cash, Torrents of Tweets, and a Whole Lotta Crazy

Inside Gaming: Industry loonies emerge from political fray

by , Nov 17, 2012 | 1:00 pm

Hard as it seems, Peter Carlino and the folks at Penn National Gaming outdid Sheldon Adelson, Steve Wynn and Donald Trump in terms of political lunacy this year.

And it only cost the regional gaming giant $42 million to embarrass itself.

Adelson, chairman and chief executive officer of Las Vegas Sands Corp., dumped at least $53 million of his own money into a variety of super PACs that supported Republican candidates around the country, including GOP presidential nominee Mitt Romney. Other than U.S. Sen. Dean Heller, R-Nev., all his picks fell flat.

Wynn, chairman and CEO of Wynn Resorts Ltd., seemed to spend more time appearing on Fox News than in his company’s boardroom. Wynn used any and every occasion to attack President Barack Obama’s policies.

“It would be a complete disaster if Obama wins, which is why I’m urging my employees to vote for Romney,” Wynn told the Huffington Post the week before the election.

Obama beat Romney in Nevada by more than 66,000 votes.


Inside Gaming: As Feds Investigate Big Casino Biz Practices,
Steve Wynn Goes Mute with Obama Opposition

by , Sep 4, 2012 | 12:12 pm

Until recently, it appeared Steve Wynn had abandoned politics.

Wynn spent three years as the de facto voice of the gaming industry’s unofficial anti-Obama coalition, a high-profile membership of two than included Las Vegas Sands Corp. Chairman Sheldon Adelson.

Wynn provided the rhetoric. Adelson provided the money.

The chairman and chief executive officer of Wynn Resorts Ltd., never missed an opportunity to appear on Fox News or other conservative media outlets to bash President Barack Obama’s administration for what he considers its failings in handling the economy.

Wynn often peppered his remarks with bombastic comments.


Investors Weary of Adelson’s Romney-Love

Focus on politics coincides with downgraded LV Sands stock

by , Aug 6, 2012 | 10:10 am

A few days after Las Vegas Sands Corp. disappointed investors with quarterly earnings declines that sent the company’s share price tumbling and had analysts breaking out in a cold sweat, Chairman and CEO Sheldon Adelson jetted to Israel to watch presumptive Republican presidential nominee Mitt Romney deliver a speech in Jerusalem.

“It was a great speech. Loved it,” Adelson told Bloomberg News.

In Israel, he was treated like a rock star. Adelson, 78, was swarmed by Israeli citizens, Romney donors, and the press as he slowly made his way to his wheelchair after the speech.

Back in the U.S., Argus Research downgraded its view of Las Vegas Sands stock. The firm placed a Hold recommendation on the shares, a change from its previous Buy rating.

The weaker outlook reflected Argus’ concerns that revenues and profits from Las Vegas Sands’ four Macau casino developments were in trouble. During the quarter, net income from Macau declined 40 percent. Argus said the Chinese economy seems to be slowing. Also, results from the first phase of the company’s $4.4 billion Sands Cotai Central were lower than expected.


The People (of Macau) vs. Sheldon Adelson

Big Trouble in Little China?

by , Jul 19, 2012 | 10:31 am

We hear a lot about Sheldon Adelson. Poker players love to hate on the cranky old billionaire because how dare the primary beneficiary of the Venetian’s awesome Deep Stack Extravaganza be against online poker! Wasn’t the Venetian its biggest supporter when they welcomed PokerStars and the NAPT into the USA to someday maybe challenge the supremacy of the WSOP? OK, I’m editorializing and asking you to connect dots here that we haven’t even connected yet on paper. But regardless, Adelson seems to have more problems these days than opposition to online gambling.

Here’s Rachel Maddow (the Vanessa Selbst of cable News?) laying out why the GOP’s big sugardaddy — originally a Newt Gingrich guy — is finding himself in some liberal (and government) crosshairs over the appearance of less than ethical behavior in Macau.

And here is NPR on that same story of Adelson possibly facing legal heat for criminal violations of the Foreign Corrupt Practices Act.

Get the sense the liberal media elite ain’t gonna let this one go?

Venetian Deep Stack Moves to Palazzo

Replaces April DSE with new "Bounty Festival" amid talks of expansion

by , Mar 8, 2012 | 4:23 pm

Venetian has moved its Deep Stacks Extravaganza tournament series to the Palazzo and replaced one of the quarterly events with a new “Spring Big Bounty Festival.”

The casino just released the schedule for its next Deep Stack series, set to run May 24 to July 15.

There’s no DSE next month, however, meaning there will be only three this year. Instead, they will host the Spring Big Bounty Festival from April 12-22, also at Palazzo.

Since 2009, there have been four Deep Stacks a year inside the Venetian Poker Room, with events starting in January, April, May and October.

That changed in January and February, when players battled in this year’s first Deep Stack Extravaganza in the main casino area of the Palazzo.

With the Venetian being home to the largest poker room in Las Vegas, there’s no word on creating a permanent poker room inside the neighboring tower.

But the tournament shift to the Palazzo — because of already crowded Venetian poker room — appears to coincide with rumblings about expansion.

For at least a couple of years, there’s been talk about making the Venetian, currently 52 tables, even bigger. Already, a roped off area outside the main poker room handles the daily tournaments.

Now, word on The Strip is that work on Venetian’s poker room could start as early as August.

The plan supposedly calls for upwards of 90 tables, new chairs, bigger and better TVs, and tearing down the high-limit wall for better space.

Several attempts to reach casino officials about tournament and poker room changes were unsuccessful.

But it looks like Las Vegas Sands Chairman and CEO Sheldon Adelson might start throwing some money at more than just Newt Gingrich.