An aggressive $1 million advertising campaign backed by Sheldon Adelson, chairman and CEO of Las Vegas Sands, is trying to block legislation in Pennsylvania that would allow movie video gaming terminals (VGTs) in truck stops, restaurants, pubs, and off-track betting facilities.
Billionaire casino magnate Sheldon Adelson is funding team to fight proposed legislation that threatens his hold on gambling activity into the Keystone State.
Adelson’s Sands Casino Resort Bethlehem is leading the battle against home Bill 1010, which would permit certain establishments to install VGTs real-money that is offering, poker, as well as other casino games.
There are presently nearly 27,000 VGTs in Pennsylvania, most of them in the state’s 12 casinos. If HB 1010 passes, the number could more than double.
John Cunnane, a Wall Street video gaming and leisure analyst for Stifel Investment Services, told the Allentown Morning Call that such an expansion of VGTs and authorized VGT locations certainly could hurt established gaming facilities.
‘That’s an insane number of vgts, and we’ve seen the impact that’s had on gambling enterprises in places like Iowa and Illinois,’ Cunnane said. ‘It will not cause a mass exodus from gambling enterprises, but they will feel the pain, no doubt.’
Through Sands Casino Resort Bethlehem, Adeslon offered $1 million to Pennsylvanians For accountable Government (PRG), a newly created organizat Continue reading