Adelson actually says that online gaming won't hurt his businesses, but it will affect other land based casinos. Which is bad somehow.
What a douchebag.
http://www.forbes.com/sites/stevenbertoni/2013/06/19/sheldon-adelson-online-gambling-is-fools-gold/1/
“Click your mouse and lose your house” isn’t a marketing slogan for advocates of legalized online gambling. But it should be.
Right now, several state legislatures, including the populous states of California and Pennsylvania, are considering proposals to allow the legalization of online gaming. Nevada, New Jersey and Delaware have already approved it. Congress is also interested in the issue as multiple pieces of legislation, both limiting and expanding online gaming, have recently been introduced.
As an industry leader, and more importantly as a father, grandfather, citizen and patriot of this great country, I am adamantly opposed to the legalization and proliferation of online casino gaming.
You would think the chairman of the world’s largest gaming company would pursue any aspect of gaming which could increase profits, right?
Ordinarily that is true—but online gambling is ‘fool’s gold.’
Whether it is full casino gaming, poker only, or anything in between -this is a societal train wreck waiting to happen.
With the expansion of internet gaming now taking place at the state level, I strongly urge Congress to either rewrite the Federal Wire Act, or pass new legislation making internet gaming illegal nationwide.
Additionally, I encourage greater enforcement of the laws currently prohibiting off-shore internet gaming companies from engaging in transactions with U.S. citizens.
Critics will claim I have ulterior motives in taking such a strong stand on this issue. They’ll say I’m just afraid to compete for this business or that I’m worried about the impact on my land-based casinos in Nevada and Pennsylvania.
First, with our popular brands – like The Venetian – 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- long business career, I’m 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.
So while the impact on my company’s business would be limited, the hit on other commercial casinos, Native American casinos, and racetrack-casinos across the land could be substantial and even lead to their eventual demise.
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 to the land-based casinos in those countries. That number is bound to worsen as internet gaming dependency grows.
What a douchebag.
http://www.forbes.com/sites/stevenbertoni/2013/06/19/sheldon-adelson-online-gambling-is-fools-gold/1/
“Click your mouse and lose your house” isn’t a marketing slogan for advocates of legalized online gambling. But it should be.
Right now, several state legislatures, including the populous states of California and Pennsylvania, are considering proposals to allow the legalization of online gaming. Nevada, New Jersey and Delaware have already approved it. Congress is also interested in the issue as multiple pieces of legislation, both limiting and expanding online gaming, have recently been introduced.
As an industry leader, and more importantly as a father, grandfather, citizen and patriot of this great country, I am adamantly opposed to the legalization and proliferation of online casino gaming.
You would think the chairman of the world’s largest gaming company would pursue any aspect of gaming which could increase profits, right?
Ordinarily that is true—but online gambling is ‘fool’s gold.’
Whether it is full casino gaming, poker only, or anything in between -this is a societal train wreck waiting to happen.
With the expansion of internet gaming now taking place at the state level, I strongly urge Congress to either rewrite the Federal Wire Act, or pass new legislation making internet gaming illegal nationwide.
Additionally, I encourage greater enforcement of the laws currently prohibiting off-shore internet gaming companies from engaging in transactions with U.S. citizens.
Critics will claim I have ulterior motives in taking such a strong stand on this issue. They’ll say I’m just afraid to compete for this business or that I’m worried about the impact on my land-based casinos in Nevada and Pennsylvania.
First, with our popular brands – like The Venetian – 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- long business career, I’m 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.
So while the impact on my company’s business would be limited, the hit on other commercial casinos, Native American casinos, and racetrack-casinos across the land could be substantial and even lead to their eventual demise.
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 to the land-based casinos in those countries. That number is bound to worsen as internet gaming dependency grows.
