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Adelson’s Casino Empire Grows

Profit

We all know him already as the famous face who speaks out frequently in support of land based gambling and against sites such as Rushmore online which operate from the internet, but it seems that whatever Sheldon Adelson is doing is working like a charm. The Republican supporter took a hit to his personal wealth last year after spending a lot of money in support of Mitt Romney and other candidates, but during 2013 he saw a huge amount of profit – with his wealth rising to the tune of $15 billion, at an astonishing rate of $41 million per day.

That is the kind of statistic that most of us can only dream of, but for the casino mogul it is a reality based on good business decisions and a casino empire which only continues to grow. As the CEO of the Las Vegas Sands Corporation, he is behind plenty of famous casinos around the world, including the Venetians in Las Vegas and Macau. He recently cancelled plans to build a large casino resort in Madrid, Spain, but has no qualms about making new plans elsewhere: the only thing that he is most certainly not in favour of when it comes to gambling is the move to put it online. The eighty-year-old has spoken out frequently against online gambling and has now begun forming a coalition to fight the legalisation of online gambling in the US, but we can be absolutely certain that his interest in the matter is not based on the idea of saving US citizens from falling into debt or any of the other claims that are often made by those who are in opposition to online gambling. Indeed, it is quite clear already that Adelson simply wants to make sure that he can continue raking in that massive fortune rather than seeing his casinos give way to online competition.

His current wealth is now listed by Forbes at $37 billion which means that he gained 68% more wealth during 2013. This means that he is now the fifth wealthiest US citizen, having moved up from only eleventh in September. He recently penned an open piece in the Las Vegas Review Journal in which he claimed that 70% of Americans are opposed to online poker, but it is not clear where he got these results from when a similar Reason-Rupe public opinion survey taken last month found that 65% of US citizens are in favour of it. It may well be that he is simply clutching at straws in a desperate attempt to prevent online gambling from taking profits away from his own businesses, though confidence cannot be held that he will see any success when one takes into consideration his previous attempts to influence politics. He has donated millions to Republican causes in the past, only to see Obama take two consecutive terms as President of the United States in spite of every effort that he had made to prevent this from happening.

Published by of Online Casino Club.


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