(Update: The Adelson-influenced meddling has already begun.)
Now that Sheldon Adelson owns the Las Vegas Review-Journal, the paper’s prime topic of coverage has become … itself. There’s no shortage of entrail-reading, as pundits try to parse the casino mogul’s intentions. In a sense, Adelson has already won a key battle: One of today’s lead stories features everyone from Sen. Harry Reid (D) to Caesars Entertainment‘s Jan Jones Blackhurst going out of their way to say nice things about Sheldon. We’re also given a foretaste of the nouveau regime when Publisher Jason Taylor lectures one of his own reporters for daring to ask questions about Adelson’s ownership, sniffing, “My recommendation is focus your energy on making the brand stronger.” As though to demonstrate its editorial independence, the R-J ran an unflattering photo of Adelson in which he appears to be wearing a mohair beanie. (Smoke ’em while you got ’em.)
Such gestures may be all fun and games but the real question is whether and how soon we’ll see Adelson’s personal agenda showing up on the editorial page and in how coverage is skewed. Will the R-J start editorializing against online gambling? Will it start pimping the political career of Utah congressman — and Adelson errand boy — Jason Chaffetz? Will Adelson antagonists Richard Suen and Steven Jacobs get a fair hearing? Will Howard Stutz have to start writing happy-talk stories about the economic depression in Macao? Adelson has positioned his interest in the R-J as a community service, but he’s not good at keeping his feelings to himself. How long before he reaches for his big, new megaphone? The tycoon says cryptically, “We may take some of the positive characteristics of our Israeli newspaper and add them.” Can’t wait to see how that manifests itself.
* Speaking of Adelson amplifiers, Las Vegas Sands spokesman Ron Reese was the primary source today for a story concerning three casino companies’ about-face on their declaration of independence from Nevada Power Co. Faced with a collective $126.5 million in exit fees (plus unquantified additional penalties) — the vast majority of them incurred by MGM Resorts International — MGM and Wynn Resorts, as well as Sands, are trying to scurry back under the Nevada Power umbrella while they still can. Their fate lies with the Public Utility Commission, which has little over a month to ponder the change of heart.
* Full House Resorts has become a great deal more newsworthy — and active — since Dan Lee became CEO. Its next move will be a revamp of Hyatt Regency Lake Tahoe‘s Grand Lodge Casino. Lee has negotiated a lease extension through 2023 and will reciprocate with $1.5 million in new gaming equipment. This fixer-upper plan should keep Lee busy until Full House’s $30 million purchase of Bronco Billy’s Casino & Hotel, in Colorado, closes.
Agreed on Full House. Lee is bringing some fresh ideas to that company. Hopefully they can make something of it.