An aggressive $1 million marketing campaign backed by Sheldon Adelson, chairman and CEO of Las Vegas Sands, is attempting to block legislation in Pennsylvania that would allow movie video gaming terminals (VGTs) in truck stops, restaurants, bars, and off-track betting facilities.
Billionaire casino magnate Sheldon Adelson is funding team to fight proposed legislation that threatens his hold on gambling task into the Keystone State.
Adelson’s Sands Casino Resort Bethlehem is leading the fight against House Bill 1010, which will permit certain establishments to install VGTs offering real-money blackjack, poker, along with other casino games.
There are currently almost 27,000 VGTs in Pennsylvania, all of them in the state’s 12 casinos. The number could more than double if HB 1010 passes.
John Cunnane, a Wall Street video gaming and leisure analyst for Stifel Investment Services, told the Allentown Morning Call that this kind of expansion of VGTs and authorized VGT locations certainly could hurt established gaming facilities.
‘That’s an insane wide range of vgts, and we’ve heard of impact that’s had on gambling enterprises in places like Iowa and Illinois,’ Cunnane said. ‘It won’t cause a mass exodus from casinos, but they shall have the pain, no doubt.’
Through Sands Casino Resort Bethlehem, Adeslon gave $1 million to Pennsylvanians For Responsible federal Government (PRG), a newly created lobbying organ [Read more…]