Sheldon Adelson is throwing a lot of money at various members of Congress doing everything he can to get anti-onling gaming legislation passed. Of course this is completely transparent on Adelson's part. He owns several large brick and mortar casinos which he worries will lose revenue if online gaming becomes legal.
There was once hope a couple of years ago that Congress would legalize all or at least some forms of online gaming. That hope has now faded. Pala Interactive's CEO Jim Ryan thinks there's a good chance anti-online gaming legislation can pass through Congress.
Pala Interactive’s Jim Ryan Says Federal Ban of iGaming Has “A Good Shot of Passing”
By Steve Larson
Pala Interactive CEO Jim Ryan recently expressed strong concerns that the Restoration of the Wire Act legislation could pass in 2015. Mr. Ryan, who is the former CEO of Party Gaming, said that the RAWA has a much better chance of passing in 2015 than it did in 2014.
The gaming executive spoke on a number of subjects, including his own company’s plans for 2015 and the chances of state-level online gaming legislation passing this year. The quotes seized upon by the online gambling community were those involving legislation introduced to the U.S. House of Representatives by Jason Chaffetz of Utah last week.
Jim Ryan Online Gambling Quotes Quotes
Jim Ryan spoke to the website Pocket Fives recently. He said, “I think Adelson’s legislation has a good shot of passing. We have a Republican-controlled Congress and a well-financed political effort to amend the Wire Act. This is the most significant threat we’ve had post-Black Friday.”
Mr. Ryan says that Sheldon Adelson and his congressional allies’ arguments are simply wrong. Ryan said, “They’re worried about underage gambling and terrorism. Why push it into the black market as opposed to regulating it? I would love to get involved in the debate when that point is discussed.”
Read Full Article Here-->Pala Interactive’s Jim Ryan Says Federal Ban of iGaming Has “A Good Shot of Passing”
Showing posts with label Sheldon Adelson. Show all posts
Showing posts with label Sheldon Adelson. Show all posts
Friday, February 20, 2015
Monday, February 9, 2015
Sheldon Adelson Continues Push to Stop Online Gambling
National Journal - Congress Revives Sheldon Adelson-backed Plot to Kill Online Gambling
Is the billionaire casino magnate already exerting his influence over the new Congress?
BY DUSTIN VOLZ
House lawmakers Wednesday are reintroducing a bill that would effectively ban betting sites in the U.S.
The Restoration of America's Wire Act, spearheaded by Rep. Jason Chaffetz, would "restore" a decades-old federal ban on some gambling operations by extending it to include Internet gaming. Chaffetz, a Utah Republican, is introducing the bill with six GOP cosponsors and the backing of one Democrat, Rep. Tulsi Gabbard of Hawaii. The three-page measure is the same as the one Chaffetz introduced last year.
An aide for Sen. Lindsey Graham confirmed that the South Carolina Republican also intends to reintroduce a version of the bill, though he said a timetable was unclear. The companion bills debuted last spring but never gained much traction.
The House reintroduction renews a long-standing fight between Internet gambling sites, brick-and-mortar casino owners, and family-values advocates.
Chaffetz told reporters Wednesday that online gambling presents a troubling family-values threat because of the ease with which players can sign up and start betting.
Read Full Article Here ->National Journal - Congress Revives Sheldon Adelson-backed Plot to Kill Online Gambling
Is the billionaire casino magnate already exerting his influence over the new Congress?
BY DUSTIN VOLZ
House lawmakers Wednesday are reintroducing a bill that would effectively ban betting sites in the U.S.
The Restoration of America's Wire Act, spearheaded by Rep. Jason Chaffetz, would "restore" a decades-old federal ban on some gambling operations by extending it to include Internet gaming. Chaffetz, a Utah Republican, is introducing the bill with six GOP cosponsors and the backing of one Democrat, Rep. Tulsi Gabbard of Hawaii. The three-page measure is the same as the one Chaffetz introduced last year.
An aide for Sen. Lindsey Graham confirmed that the South Carolina Republican also intends to reintroduce a version of the bill, though he said a timetable was unclear. The companion bills debuted last spring but never gained much traction.
The House reintroduction renews a long-standing fight between Internet gambling sites, brick-and-mortar casino owners, and family-values advocates.
Chaffetz told reporters Wednesday that online gambling presents a troubling family-values threat because of the ease with which players can sign up and start betting.
Read Full Article Here ->National Journal - Congress Revives Sheldon Adelson-backed Plot to Kill Online Gambling
Monday, August 4, 2014
The Fight Against Online Gaming Continues
Efforts to legalize online poker in California seem to have stalled a bit though most are still optimistic of getting a bill past in the next year or two. The forces against online gaming, namely Sheldon Adelson and the Senators he has bought, continue their efforts to make online gambling illegal at the Federal Level. The article below outlines the current tack Adelson's Senators are taking:
casino.org - Senators Appeal to DoJ for Reinterpretation of Wire Act
AUGUST 03, 2014 BY SAMANTHA BECKETT
Excerpt:
Three US senators have written to Attorney General Eric Holder, appealing to him to support the Restoration of America’s Wire Act. The bill, introduced earlier this year, seeks to outlaw all forms of online gambling at a federal level by adopting a previous interpretation of US gambling law. The Federal Wire Act of 1961, which was created as a means to stop organized crime from trafficking, failed to predict of the advent of the Internet age, and so leaves a lot to interpretation as to how it relates to online gambling.
#
Senator Lindsey Graham, along with Diane Feinstein and Kelly Ayotte, believe that online poker is “bound to” prey on children and society’s most vulnerable.
Read More Here -->casino.org - Senators Appeal to DoJ for Reinterpretation of Wire Act
Also in the news:
Amaya Gaming Officially Completes Acquisition of Pokerstars and Full Tilt
The Buzz: Dianne Feinstein continues push against Internet poker
I guess the tribes better start throwing money at Graham, Feinstein, and Ayotte or else online gambling may become illegal across the entire United States. Or does Tribal Sovereignty Trump the Federal Government's Sovereignty? Be interesting to watch what happens at Santa Ysabel now that they have started offering Online Poker. What will the government do if anything?
Santa Ysabel Tribe Answers Queries Regarding PrivateTable.com
Californian Online Poker A Catalyst For US Expansion
casino.org - Senators Appeal to DoJ for Reinterpretation of Wire Act
AUGUST 03, 2014 BY SAMANTHA BECKETT
Excerpt:
Three US senators have written to Attorney General Eric Holder, appealing to him to support the Restoration of America’s Wire Act. The bill, introduced earlier this year, seeks to outlaw all forms of online gambling at a federal level by adopting a previous interpretation of US gambling law. The Federal Wire Act of 1961, which was created as a means to stop organized crime from trafficking, failed to predict of the advent of the Internet age, and so leaves a lot to interpretation as to how it relates to online gambling.
#
Senator Lindsey Graham, along with Diane Feinstein and Kelly Ayotte, believe that online poker is “bound to” prey on children and society’s most vulnerable.
Read More Here -->casino.org - Senators Appeal to DoJ for Reinterpretation of Wire Act
Also in the news:
Amaya Gaming Officially Completes Acquisition of Pokerstars and Full Tilt
The Buzz: Dianne Feinstein continues push against Internet poker
I guess the tribes better start throwing money at Graham, Feinstein, and Ayotte or else online gambling may become illegal across the entire United States. Or does Tribal Sovereignty Trump the Federal Government's Sovereignty? Be interesting to watch what happens at Santa Ysabel now that they have started offering Online Poker. What will the government do if anything?
Santa Ysabel Tribe Answers Queries Regarding PrivateTable.com
Californian Online Poker A Catalyst For US Expansion
***WARNING***
Chairman Robert Smith, Chairman of the Pala Band of Mission Indians, Pala Band of Luiseno Indians, Pala Band of Luiseno Mission Indians of the Pala Reservation, is monitoring your comments. He is going to track your IP address and "take action" against any tribal member posting comments he does not like.
Monday, June 30, 2014
Online Gambling
Good article about Online Gambling. Here is an excerpt:
calvinayre.com IGAMING DEVELOPMENTS – CHRIS CHRISTIE AND SHELDON ADELSON
BY RAFI FARBER
The news out of New Jersey hasn’t been stellar of late, and Chris Christie is taking the heat for it. He famously, or rather infamously, predicted last May that New Jersey would earn $180M a year from a 15% internet gambling tax. He ended up with only $12M, about 7% of what he expected. If Christie had understood basic economics, he wouldn’t have made such a prediction. But Christie doesn’t understand basic economics, just like most politicians and government bureaucrats who make their living interfering with the economy.
iGaming Developments - Chris Christie and Sheldon AdelsonThe first crucial thing to grasp about the gambling industry is that it is not productive on net, meaning it does not produce tangible wealth. Rather it is essentially consumptive of wealth. This is not to badmouth gambling, but just to explain the nature of the industry in that it is a consumer industry. Producer industries are farming, construction, technology, that sort of thing. It’s the same with the restaurant industry, supermarkets, and the entire entertainment industry. These are consumer services that consume wealth, not produce it. The only thing gambling produces on net is consumer satisfaction, which is not tangible wealth.
Understanding that, Christie’s woes stem from the fact that the only way a consumer entertainment industry can bring in net revenue to a given territory is by attracting foreign wealth from outside its jurisdiction. Otherwise you are only dealing with the same pot of money, and just dividing it differently between industries.
The reason Nevada and Atlantic City earn money for their state governments is not because gambling in those states magically increases revenue from within. It is because Las Vegas and Atlantic City attract capital from areas outside of Nevada and New Jersey, and a percentage of that capital goes to tax revenue. If theoretically Nevada and New Jersey were to outlaw gambling for non-Nevada and New Jersey residents, there would be no net gain from the gaming industry in those states.
Read More Here --> calvinayre.com IGAMING DEVELOPMENTS – CHRIS CHRISTIE AND SHELDON ADELSON
calvinayre.com IGAMING DEVELOPMENTS – CHRIS CHRISTIE AND SHELDON ADELSON
BY RAFI FARBER
The news out of New Jersey hasn’t been stellar of late, and Chris Christie is taking the heat for it. He famously, or rather infamously, predicted last May that New Jersey would earn $180M a year from a 15% internet gambling tax. He ended up with only $12M, about 7% of what he expected. If Christie had understood basic economics, he wouldn’t have made such a prediction. But Christie doesn’t understand basic economics, just like most politicians and government bureaucrats who make their living interfering with the economy.
iGaming Developments - Chris Christie and Sheldon AdelsonThe first crucial thing to grasp about the gambling industry is that it is not productive on net, meaning it does not produce tangible wealth. Rather it is essentially consumptive of wealth. This is not to badmouth gambling, but just to explain the nature of the industry in that it is a consumer industry. Producer industries are farming, construction, technology, that sort of thing. It’s the same with the restaurant industry, supermarkets, and the entire entertainment industry. These are consumer services that consume wealth, not produce it. The only thing gambling produces on net is consumer satisfaction, which is not tangible wealth.
Understanding that, Christie’s woes stem from the fact that the only way a consumer entertainment industry can bring in net revenue to a given territory is by attracting foreign wealth from outside its jurisdiction. Otherwise you are only dealing with the same pot of money, and just dividing it differently between industries.
The reason Nevada and Atlantic City earn money for their state governments is not because gambling in those states magically increases revenue from within. It is because Las Vegas and Atlantic City attract capital from areas outside of Nevada and New Jersey, and a percentage of that capital goes to tax revenue. If theoretically Nevada and New Jersey were to outlaw gambling for non-Nevada and New Jersey residents, there would be no net gain from the gaming industry in those states.
Read More Here --> calvinayre.com IGAMING DEVELOPMENTS – CHRIS CHRISTIE AND SHELDON ADELSON
***WARNING***
Chairman Robert Smith, Chairman of the Pala Band of Mission Indians, Pala Band of Luiseno Indians, Pala Band of Luiseno Mission Indians of the Pala Reservation, is monitoring your comments. He is going to track your IP address and "take action" against any tribal member posting comments he does not like.
Tuesday, June 3, 2014
Sheldon Adelson
Forbes - Sheldon Adelson Is Winning His War Against Online Gambling
By Nathan Vardi, Forbes Staff
When Sheldon Adelson’s campaign against online gambling in America emerged last fall, some Internet gambling supporters dismissed his effort as misguided and confused. They pointed to the fact that the entire gambling industry except for Adelson was united in its support of extending gambling to the Internet. Some felt that few would take objections to online gambling on moral grounds seriously from a man who had made a huge fortune off of land-based casinos. Even Adelson’s comment that he was ‘willing to spend whatever it takes,”‘ to stop online gambling was seen by some as a hollow threat given his inability to push his man into the White House by spending tens of millions of dollars.
But half a year later, Adelson appears to be winning his war against online gambling. In the fall of 2013, proponents of online gambling felt the wind at their back with states like New Jersey, Delaware and Nevada launching regulated online gambling and high expectations that big revenues and tax receipts generated in New Jersey would push other states to embrace online gambling. But as of June, online gambling efforts in key states like California appear to be stalled and the best that online gambling supporters can say about the federal level is that Adelson is no closer to implementing a federal online gambling ban than they are to pushing through a federal regulatory regime for online gambling.
Read Full Article Hear Forbes - Sheldon Adelson Is Winning His War Against Online Gambling
Other News:
New California Online Poker Bill Likely Ready Next Week
Pennsylvania Online Poker Bill Details
Jamaica Seeks Online Gambling Regulation
Early Bird discounts set to close on North America's leading iGaming events
Friday, May 9, 2014
Pushing Online Gambling Is Going to Get Even More Expensive
Sheldon Adelson is a billionaire - worth about $40 Billion. He is the owner of the Las Vegas Sands Corporation which in turn owns the Venetian Macao Limited which operates The Venetian Resort Hotel Casino and the Sands Expo and Convention Center...among other things.
Up to this point in time Tribes have been throwing money at California's State Legislature hoping to get online poker legalized for themselves. I am not sure how much money has been spent to date to legalize online poker in California but I am sure it is in the many millions.
Well tribes better be ready to open up that check book. Oh, and don't forget to get General Council approval for the tens of millions you will need to spend to get online poker passed. Even after that heavy lift if online poker succeeds in California the Feds could very well end up making online gambling illegal.
The reason? Sheldon Adelson. He has decided to basically go all in against online gambling. He says he is doing it for the children. In reality it's probably just good business since online gambling is considered a threat to brick and mortar casinos.
You can read more about it here:
Washington Post - Adelson’s political beneficiaries adopt casino magnate’s cause to ban Internet gambling
Here is one of Sheldon Adelson's first ads against online gambling:
Up to this point in time Tribes have been throwing money at California's State Legislature hoping to get online poker legalized for themselves. I am not sure how much money has been spent to date to legalize online poker in California but I am sure it is in the many millions.
Well tribes better be ready to open up that check book. Oh, and don't forget to get General Council approval for the tens of millions you will need to spend to get online poker passed. Even after that heavy lift if online poker succeeds in California the Feds could very well end up making online gambling illegal.
The reason? Sheldon Adelson. He has decided to basically go all in against online gambling. He says he is doing it for the children. In reality it's probably just good business since online gambling is considered a threat to brick and mortar casinos.
You can read more about it here:
Washington Post - Adelson’s political beneficiaries adopt casino magnate’s cause to ban Internet gambling
Here is one of Sheldon Adelson's first ads against online gambling:
Wednesday, April 16, 2014
The Politics of Online Gambling
The politics surrounding online gambling in the United States is getting a bit more interesting lately. It's no secret big money gets legislation passed at the State level as well as at the Federal level. Initially several tribes including Pala, Pechanga, Agua Caliente, United Auburn, Morongo, Rincon as well as many others began throwing money at State legislators in hopes of getting legislation passed that would legalize Online Poker. There's been some in-fighting and disputes about what this legislation should look like. But for the most part things keep moving forward.
Initially many tribes took a stance against online gambling or tried to carve out exceptions so that only tribes could have online gambling. This tactic has seemed to have failed and so it's now become if you can't beat them join them.
Currently there are two pending bills each supported by rival factions to try to legalize online poker in California. There seems to be some consensus that perhaps with enough time and money for the politicians the two bills could perhaps be merged if the rival factions can come to some agreements on key aspects of the bills. Most still seems to think online poker in California is still at least 1 to 2 years away from becoming a reality.
In the meantime some States like New Jersey and Delaware have already legalized internet gambling leading some to speculate perhaps the Federal Government would also eventually legalize internet gambling.
And then something that may have been unexpected happened. Senator Lindsay Graham of South Carolina introduced legislation that would essentially make internet gambling illegal. Obviously this would derail efforts in California to make online poker legal. Senator Diane Feinstein of California is a co-sponsor of this legislation. This has ruffled the feathers of several Indian Tribes who have been throwing money at trying to make online poker legal.
So why this sudden interest from Lindsay Graham and Diane Feinstein in making online gambling illegal? Turns out Las Vegas Sands owner and Billionaire Sheldon Adelson who hopes to buy the next Republican President urged Lindsay to introduce the bill. Mr. Adelson is extremely concerned that internet gambling would cut into the profits of his brick and mortar casinos.
Feinstein is likely an opportunist in all this. She can probably sense that by supporting a ban on internet gambling she will soon receive contributions from Indian Tribes in California hoping they can get her to change her mind. On the other hand any time a billionaire wants something done it can be quite beneficial to one's political coffers to go along with it. No doubt Lindsay Graham will benefit from introducing the ban. For Feinstein it's a win-win. She will either get money from Mr. Adelson or from the Indians Tribes and most likely from both.
Indian Tribes in California are now going up against Billionaire Sheldon Adelson. Better open up those check books. But don't fret just yet. The bill would have to pass the Senate which is probably going to be difficult. If it manages to get out of the Senate it would then have to pass the House and be signed by the President in order to become law. This will take time.
It's turning into quite an interesting poker game with Sheldon Adelson now buying in and raising the ante. The question now is if the forces that support online gambling have enough money to go up against the big boys. Other big casino owners such as Steve Wynn also oppose online gambling.
Remember who tried to block Indian Gaming for a while? Las Vegas. What eventually happened? Vegas backed ventures ended up building and investing in many Indian Casinos. Who is trying to block online gambling now? Las Vegas.
Initially many tribes took a stance against online gambling or tried to carve out exceptions so that only tribes could have online gambling. This tactic has seemed to have failed and so it's now become if you can't beat them join them.
Currently there are two pending bills each supported by rival factions to try to legalize online poker in California. There seems to be some consensus that perhaps with enough time and money for the politicians the two bills could perhaps be merged if the rival factions can come to some agreements on key aspects of the bills. Most still seems to think online poker in California is still at least 1 to 2 years away from becoming a reality.
In the meantime some States like New Jersey and Delaware have already legalized internet gambling leading some to speculate perhaps the Federal Government would also eventually legalize internet gambling.
And then something that may have been unexpected happened. Senator Lindsay Graham of South Carolina introduced legislation that would essentially make internet gambling illegal. Obviously this would derail efforts in California to make online poker legal. Senator Diane Feinstein of California is a co-sponsor of this legislation. This has ruffled the feathers of several Indian Tribes who have been throwing money at trying to make online poker legal.
So why this sudden interest from Lindsay Graham and Diane Feinstein in making online gambling illegal? Turns out Las Vegas Sands owner and Billionaire Sheldon Adelson who hopes to buy the next Republican President urged Lindsay to introduce the bill. Mr. Adelson is extremely concerned that internet gambling would cut into the profits of his brick and mortar casinos.
Feinstein is likely an opportunist in all this. She can probably sense that by supporting a ban on internet gambling she will soon receive contributions from Indian Tribes in California hoping they can get her to change her mind. On the other hand any time a billionaire wants something done it can be quite beneficial to one's political coffers to go along with it. No doubt Lindsay Graham will benefit from introducing the ban. For Feinstein it's a win-win. She will either get money from Mr. Adelson or from the Indians Tribes and most likely from both.
Indian Tribes in California are now going up against Billionaire Sheldon Adelson. Better open up those check books. But don't fret just yet. The bill would have to pass the Senate which is probably going to be difficult. If it manages to get out of the Senate it would then have to pass the House and be signed by the President in order to become law. This will take time.
It's turning into quite an interesting poker game with Sheldon Adelson now buying in and raising the ante. The question now is if the forces that support online gambling have enough money to go up against the big boys. Other big casino owners such as Steve Wynn also oppose online gambling.
Remember who tried to block Indian Gaming for a while? Las Vegas. What eventually happened? Vegas backed ventures ended up building and investing in many Indian Casinos. Who is trying to block online gambling now? Las Vegas.
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