Sheldon Adelson: Online Gaming is “Fool’s Gold”

Sheldon Adelson: Online Gaming is “Fool’s Gold”

Friday, 21 June 2013

Sheldon Adelson has made his dislike of online gaming very public over the last few years and in a recent article on he launched another verbal attack on the industry.

Despite the Las Vegas Sands CEO once looking forward to the potential of online gaming (seen here in this 2001 article ), he recently stated that he is "adamantly opposed to the legalization and proliferation" of the industry in the US.

Moreover, he urged the US government to either “rewrite the Federal Wire Act” or “pass new legislation that makes internet gaming illegal nationwide”.

While Adelson’s views are somewhat self-serving, there’s no doubt that they will have some sway with members of the gambling industry. Indeed, because Adelson is a powerful figure in the casino industry it’s possible he could form an important part of the lobbying effort against the online world.

In response to Adelson’s article, the PPA's John Pappas penned his own piece, stating that it was a “whiff of epic proportions” and “completely missed the ball”.

Aside from offering his own views, Pappas suggests that Adelson is failing to see the synergy between the online and offline gambling world, pointing out that: “The gross gaming yield of the offline casino industry has risen from £597.7 million in 2001 to £803.4 million in 2011.”

Tags: Sheldon Adelson, USA, regulation, John Pappas