Sheldon Adelson Could Give $100 Million to Super PACs

Published on 2012-06-19 22:44:00

Sheldon Adelson is not a fan of legalized and regulated online poker in the United States.

As a matter of fact, Adelson has said that he is "morally opposed" to online poker.

When online poker legislation in the United States seemed to be gaining momentum in 2011, Adelson helped to throw cold water on the legislation by informing Senator Jon Kyl and the American Gaming Association that he was opposed to it.

Many people were surprised at Adelson's stance, and figured that he would support online poker legislation as many of his counterparts do.

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Who is Sheldon Adelson?

Adelson is the Chairman and CEO of the Las Vegas Sands Corporation, which owns and operates the Venetian Resort Hotel Casino, the Palazzo and other properties.

Adelson is one of the richest men in America, with an estimated total net worth of $24.9 billion.

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As mentioned, Sheldon Adelson is planning on making a big splash in the 2012 US Presidential campaign.

Adelson has pledged a significant amount of money to ensure that President Barack Obama is a one-term President.

Adelson has donated tens of millions of dollars to "Super PACs" in recent months, and has pledged to continue to donate. When all is said and done, Adelson may donate as much as $100 million to "Super PACs" this election cycle.

A "Super PAC" can raise unlimited amounts of money to support or oppose a candidate. The only stipulation is that a Super PAC can't co-ordinate directly with a candidate.

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It's hard to imagine Mitt Romney ever supporting online gambling legislation in the United States. The prospects of Romney ever signing such legislation seem downright impossible given the amount of money that Adelson is shelling out to ensure that President Obama doesn't win his re-election bid.

Given Adelson's outrageous spending this election campaign, you would be foolish to think that Adelson wouldn't have the ear of Mitt Romney, if Romney is elected President in November. That would likely be bad news for federal online poker legislation in the United States.

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Filed Under: Poker Legislation