An aggressive $1 million marketing 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 group to fight proposed legislation that threatens his hold on gambling task into the Keystone State.
Adelson’s Sands Casino Resort Bethlehem is leading the battle against House Bill 1010, which will permit certain establishments to install VGTs offering real-money blackjack, poker, and other casino games.
You will find presently almost 27,000 VGTs in Pennsylvania, every one of them in the state’s 12 casinos. If HB 1010 passes, the number could more than double.
John Cunnane, a Wall Street 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 seen the impact that’s had on gambling enterprises in places like Iowa and Illinois,’ Cunnane said. ‘It won’t cause a mass exodus from gambling enterprises, but they will have the pain, no doubt.’
Through Sands Casino Resort Bethlehem, Adeslon gave $1 million to Pennsylvanians For Responsible Government (PRG), a newly created lobbying company produc (more…)