Sheldon Adelson has been against the legalization of online poker in the US. He said that he is doing it to protect minors. However, most sportsbook reviews and news sites know that Adelson was doing it to protect his interests. At present, there are rumors that he will sell Las Vegas Sands and will retire soon after.
Adelson is a major supporter of Donald Trump’s presidential run in 2016. His political donations dated back to UIGEA 2006, when poker in the US started its disintegration. His company, Las Vegas Sands Corporation, owns Palazzo and Venetian. They also own Sands Expo Convention Center on the Vegas Strip. Their assets are worth around $6 billion.
However, the sale is just a rumor. It would be an exit of the most hated man by the poker community when that happens. According to a sports betting blog, Adelson’s crusade against online poker angered the community. Although most land-based casinos don’t like online gambling, they haven’t lobbied against web-based platforms as much as Adelson.
Adelson to Sell Las Vegas Sands
According to betting software reports, the Venetian has one of the most popular card rooms in Vegas. However, some professional card players wouldn’t step in it because of its owner. Despite that, Adelson’s gambling empire made him the 28th richest man in the world.
Most of his wealth came from the company he started in 1988. The company now has more than 50,000 workers from across the globe. According to online sportsbooks, Adelson might be selling only the US-based business. Thus, it is only 15 percent of the company’s assets.
According to reports, the company might focus on its Asian casinos. Sixty-three percent of Las Vegas Sands’ revenue came from its Macau casinos. Also, they have plans to build an integrated resort in Japan. However, that project is still up in the air due to the pandemic.
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