Billionaire Vegas Boss Against Legal US Online Poker

Written by Alex N. on 2011-12-08 at 16:14
American gambling laws - GamingZion
Previous rumors that Las Vegas Sands billionaire boss Sheldon Adelson is against legalization of online poker sites in United States have been now confirmed.

The news is troubling for legislative efforts, since Sheldon Adelson wields enough power to derail the budding efforts and with a net worth of over 25 billion dollars he is a force to be reckoned with. The company spokesman, Ron Reese, told media that his boss doesn’t believe that any available technology can prevent young people from gambling online.

Sheldon Adelson is the world’s richest casino executive and the head of the largest publicly traded company in the industry. Adelson is also a member of American Gaming Association, which strongly supports the legalization move in general.

Sands spokesman, Ron Reese, also told United States gambling news that Adelson’s opposition is a personal stand, and not an official position of the company. Reese said: "It's a personal observation of concerns about technology."

American Gaming Association (AGA) is now supporting the change in American gambling laws, which will eventually make online poker legal in the country. CEO of AGA, Frank Fahrenkopf, told media that he met Adelson this week and was told that the gambling mogul is opposing the move.

Fahrenkopf said: "Sheldon has long had concerns about this issue, and it is perfectly within his right to make this decision. However, the AGA, at the direction of our board of directors, will continue to support federal legislation to allow states to license and regulate online poker."

Ever since the events of Black Friday, which saw the biggest online poker operators leave the US market, the AGA has become increasingly vocal in rushing lawmakers to come up with the needed regulations as soon as possible.

Fahrenkopf opined that the association expects federal legislation that will allow states to decide if they want to offer poker to residents, keeps youngsters from gambling online and allows law enforcement offices to shut down illegal operators.

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