Sheldon Adelson firmly against legalization of online gambling in the U.S.

Online Casino

Sheldon Adelson firmly against legalization of online gambling in the U.S.


Sheldon Adelson, chairman and CEO of Las Vegas Sands is against legalization of online gambling in the U.S.

Several state legislatures are considering proposals to allow the legalization of online gaming in the US while Nevada, New Jersay and Delaware already approved. Sheldon Adelson claimed is opposition to the “legalization and proliferation of online casino gaming”. According to him, online gambling is “fool’s gold”. “With the expansion of Internet gaming now taking place at a state level, I strongly urge Congress to either rewrite the Federal Wire Act, or pass new legislation making Internet gaming illegal nationwide, said Adelson. Additionally, I encourage greater enforcement of the laws currently prohibiting offshore Internet gaming companies from engaging in transactions with U.S. citizens”. Before adding: “Critics will clam I have ulterior motives in taking such a strong stand on this issue. They will say I am just afraid to compete for this business or that I am worried about the impact on my land-based casinos in Nevada and Pennsylvania. First, with our popular brands, we would be very effective competitors in this market place. Having started more than 50 different successful businesses over the course of my nearly seven decades, I am not afraid of competing with anyone. Second, our company makes twice as much money from our non-gaming attractions in the United States than we do from our casino operations. Finally, almost all our casino profits come from Asia, where online gambling doesn’t exist and won’t be legalized soon, if ever”. According to him, the impact on his business would be limited but could hit harder other commercial casinos. “Recent research from a number of European countries shows that the proliferation of Internet gaming has, as a start, resulted in a 20 percent decrease in visitation the land-based casinos in those countries. That number is bound to worsen as Internet gaming dependency grows, argued Adelson. The research also shows that over the past ten years, Internet gambling revenue in Europe has gone up on average 26 to 28 percent. Meanwhile, land-based casino revenue has been flat or even contracted during that same period of time, even though it was expected to increase at five to ten percent per year. In short, the rise of Internet gaming has clearly come at cost of land-based casinos in Europe”. According to him, a loss of 200,000 direct gaming industry jobs and 200,000 indirect could occur across America.

Adelson said that online gambling could be the source of other problems. “Online gambling makes it possible for bets to be placed by anyone at any time. When gambling is available in every bedroom, every dorm room and every office space, there will be no way to fully determine that each wager has been placed in a rational and consensual manner. For example, the possibility of underage children finding ways to place online wagers and the possibility of people betting under the influence of drugs or being coerced are all scenarios that can happen when the person is only monitored by their own computer screen. On the other hand, when a person makes an effort to get dressed, join some friends and head to the local casino for a night of entertainment they must show themselves as adults, and their behavior can be observed and ultimately managed by security and other staff if needed”.

Source: Forbes


Other news of online casino

€70,243 Won from a deposit of just €50 at Vera&John Casino

One lucky player has won a grand total of €70,243 from a deposit of just €50 with online casino, Vera&John. Jonathan's journey began when his initial deposit was doubled as a result of him being a new member to the site, ... Read more


Widespread legal online gambling in USA is just around the corner

News reports suggest that widespread legal online poker in USA is just around the corner. New Jersey is the first state to allow people to gamble online. Many of the casinos, including Borgata and Caesars, have opened up online sites. If you are a resident of New Jersey, then you can even play on Party Poker. This was one of the first online poker sites. They ... Read more


Vera&John first regulated online casino to accept Bitcoin

Vera&John Casino, which offers a wide range of online gambling products and games, becomes the first regulated and licensed online casino to accept the cyber currency bitcoin. “One of our key company values is innovation... Read more


The VIP Club at City Club Casino

City Club Casino30/01/2014
Why join the VIP Club at City Club Casino? If you’re a fan of online casinos, then not only do you get one of the best gambling experiences with City Club Casino, but just by joining the VIP club you earn a free welcome ... Read more


Egaming market goes live in New Jersey

The Division of Gaming Enforcement of New Jersey has given the green light to The Borgata, Tropicana, Trump Plaza, Trump Taj Mahal, Caesars Atlantic City and Bally Park Place to launch in the Garden State after the required five-day test period. New Jersey is the third state to launch regulated online gambling, after Nevada and Delaware. 888 has launched,... Read more


Online Casino