Sheldon Adelson Opposes Online Gambling

Sheldon Adelson is best known for his role as chairman and CEO of Las Vegas Sands Corp. Earlier this week, he spoke out as an opponent to the legalization of online gambling. As you can imagine, this upset many people, including those interested in playing online, affiliate marketers, and rival companies.
Recently, Adelson met with American Gaming Association (AGA) CEO Frank Fahrenkopf to speak about the potential downfalls of the legalization of online poker. More specifically, he is worried about the lack of available technology to prevent underage players from gambling online.
Much to Adelson’s dismay, the AGA has been a strong backer of regulating online poker. In fact, Fahrenkopf was one of the witnesses in the recent hearing on online regulation.
Soon after jumping into the fray, Adelson was met with criticism from rival companies that are planning to get involved if Congress approves online poker legislation. For example, MGM Resorts International has signed a deal with Boyd Gaming Corporation and BwinParty Digital Entertainment Plc to bring online poker to the US if the market becomes regulated.
Jan Jones, Senior Vice President of Caesars Entertainment Corp, had this to say:
“Sheldon has long been concerned about underage gaming on the Internet, but it’s happening now and it’s totally uncontrolled.”
Over the past few years, Caesars Entertainment has been at the forefront of the fight for legalizing online poker.
Time and time again, Adelson has made it clear that he is “morally opposed” to the legalization of online gambling. However, it appears that he is in the minority as far as Las Vegas casino operators are concerned. Most casinos in the heart of Sin City are excited at the prospects of Congress legalizing internet poker.
One thing is for sure: Adelson is not making any friends in the online gambling space.
What are your thoughts on Adelson’s opposition to the legalization of online gambling? Leave a comment below!