Sheldon steps in it; Tomato King to the rescue

Las Vegas Sands‘ CEO Sheldon Adelson’s pet piece of legislation, “Restoring America’s Wire Act” turns out to have a raft of unintended Sheldon-Adelsonconsequences, several of which would kneecap the casino industry. For one, it would ban mobile gambling, which is a headline amenity at — you guessed it — Venetian and Palazzo, last known to be owned by one Sheldon Gary Adelson. Local attorney Greg Gemignani also found that RAWA could interfere with server-based gaming. Howard Stutz has the full analysis but suffice it to say it would be very costly for the industry, especially in Nevada and Adelson’s colleagues would not thank him if he’s successful. Old Sheldon is an errant shot on a good day and this time he seems to have nailed himself square in the foot. Maybe it’s time to tell domesticated legislator Rep. Jason Chaffetz (R) to call off the dogs, or at least pull his bill from the hopper and give it a thorough rewrite.

* An odd bill, also believed to be the handiwork of Adelson, quietly expired in the Nevada Lege. What’s bizarre about the proposed law is that would outlaw Internet gambling other than poker in the Silver State … where only Internet poker is legal to begin with. Strange.

* A new poll in Pennsylvania refuted an Adelson-funded push poll that showed most Pennsylvanians opposing online gambling. The new survey, conducted by Omega Group, showed 58% of respondents in support of ‘Net bets. At present, the Keystone State is the likeliest state to dip its toe in online-gaming waters.

* You may recall that Penn National Gaming left Endeka Entertainment in the lurch in the matter of a Lawrence County racino. Endeka received partial clemency from the Pennsylvania Gaming Control Board, in the form of an extension until November 20 to come up with the $225 million it was expecting from Penn. However, new lead investor Joseph “Tomato King” Procacci and his partners are being held to a June application deadline. It is believed that Penn abandoned Lawrence Downs Casino & Racing Resort rather than imperil the strong performance of its nearby racinos in Ohio.

This entry was posted in International, Penn National, Pennsylvania, Politics, Racinos, Regulation, Sheldon Adelson, Sports, Technology, Tomato King Procacci. Bookmark the permalink.