The casino mogul Sands dedicated his last years of life to financing the campaign rather than jeopardizing the return of online poker to the United States at the state level.
His money gave him influence in the White House
Sheldon Adelson, the billionaire owner of Sands casinos and self-declared arch nemesis of online poker has passed away in Las Vegas at the age of 87, victim of lymphoma.
The news was made public through a statement signed by his wife Miriam Adelson in PRNewswire, in which she remembered her husband as a man of humble origins who obtained his remarkable wealth thanks to an entrepreneurial spirit, a profile that fits perfectly with him. myth of the american dream.
Adelson was a figure well known to poker fans due to its relevance in two very different areas.
As the owner of Sands casinos, Adelson converted the Venetian and Palazzo into the headquarters of one of the premier poker rooms in Las Vegas. It has also kept the poker tables in the Sands of Macau, within an industry that looks suspiciously at the square meters that are eaten by poker tables compared to more profitable games, especially for gaming consumption habits in Asia. .
By cons, Adelson was radicalizing his aversion to online gambling, and in his last years of life he dedicated enormous efforts and investments to prevent Americans from having access to any type of gaming offer on the Internet.
The entry into force of the UIGEA and the subsequent Black Friday brought online poker in the United States to an almost ideal situation in the eyes of Adelson, who took almost as a personal affront the initiative of the Department of Justice that reviewed the implications of the Wire Act and gave free rein to the return of online gambling managed at the state level.
The American political system allows millionaires to contribute funds and use influence to promote laws that favor their interests, and Adelson used his immense fortune to finance multiple initiatives that sought to pierce this new status quo inaugurated by the markets of New Jersey and, especially, Nevada , your state of residence and where you had your business headquarters. He attacked on all fronts, supporting the campaigns of politicians with more aggressive programs against online gambling and all kinds of reactionary platforms such as the one advocating new legislation, the Restoration of America’s Wire Act (RAWA).
The same Department of Justice, now under Trump’s orders, filed an appeal before the federal court against the interpretation of the Wire Act that allowed interstate liquidity in online gambling. Adelson was one of the top fundraisers for the controversial president’s campaign. It is expected that the administration that will succeed Trump in the White House, chaired by Democrat Biden, will eventually withdraw the appeal.
Still under his mandate, weakened by his delicate state of health, the Sands company was beginning to show a radical change in its business approach, which can mean a before and after in the gaming scene in the United States. Guided by the baton of the new CEO Rob GoldsteinSands casinos have started selling their properties on American soil.
In addition to focusing on the Asian market, and therefore stopping looking at US online gambling from the wrong or wrong prism of direct competition, the new direction has started to feel the market for online sports betting. Who would say, right?