An aggressive $1 million advertising campaign backed by Sheldon Adelson, chairman and CEO of Las Vegas Sands, is trying to block legislation in Pennsylvania that would enable video video gaming terminals (VGTs) in truck stops, restaurants, bars, and off-track betting facilities.
Billionaire casino magnate Sheldon Adelson is funding team to fight proposed legislation that threatens his hold on gambling activity within the Keystone State.
Adelson’s Sands Casino Resort Bethlehem is leading the fight against home Bill 1010, which may permit certain establishments to install VGTs offering real-money blackjack, poker, along with other casino games.
You can find currently almost 27,000 VGTs in Pennsylvania, every one of them in the state’s 12 casinos. The number could more than double if HB 1010 passes.
John Cunnane, a Wall Street video gaming and leisure analyst for Stifel Investment Services, told the Allentown Morning Call that such an expansion of VGTs and authorized locations that are VGT could harm founded gaming facilities.
‘That’s a number that is insane of, and we’ve heard of impact that’s had on casinos in places like Iowa and Illinois,’ Cunnane said. ‘It will not cause a mass exodus from gambling enterprises, but they shall feel the pain, no doubt.’
Through Sands Casino Resort Bethlehem, Adeslon provided $1 million to Pennsylvanians For Responsible Government (PRG), a newly formed organization th Read More