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Sheldon Adelson Behind Las Vegas Review Journal Acquisition

Thursday December 17,2015 : ADELSON ALLEGEDLY THE MAN BEHIND LAS VEGAS REVIEW-JOURNAL ACQUISITION (Update)
 
Rumours earlier this week appear to be accurate despite Adelson's denial of "personal" involvement.
 
It appears that the rumours earlier this week that multi-billionaire land gambling mogul Sheldon Adelson is the man and the money behind the recent $140 million acquisition of the Las Vegas Review-Journal  are true.
 
Breaking the story of Adelson’s involvement late Wednesday, Forbes magazine, citing “multiple sources familiar with the situation,” named the 82-year-old tycoon - said to be worth $23.7 billion, as the presence behind buyer News + Media Capital Group, LLC, which acquired the Review-Journal and several smaller Nevada newspapers last week from New Media Investment Corp.
 
The Journal followed the Fortune expose with its own lengthy report on Adelson's involvement following several days of anger and frustration over the lack of ownership transparency in the deal, a particularly important ethical requirement in media deals of this nature.
 
Some reports suggest that Adelson was prepared to pay a premium of $57 million in the generous consideration agreed on to acquire the Journal.
 
In the past Adelson has allegedly been uncooperative when approached by the Journal in past gambling industry issues.
 
Less than two hours after the Fortune report, Adelson told CNN he had “no personal interest” in the R-J, although journalists immediately locked on to the qualification "personal" in the statement. Previously, Adelson's Las Vegas Sands company had not responded to requests for clarification as the rumour gained traction.
 
The Las Vegas Review-Journal's report claims that Adelson's 41-year-old son-in-law Patrick Dumont (LVS exec for finance and strategy) arranged the $140 million purchase on Adelson's behalf.
 
Dumont is married to Sivan Ochshorn (40), a daughter of Adelson's wife, Dr. Miriam Adelson, from a prior marriage.
 
Sivan is listed as owner/agent of Israel Hayom, a free newspaper which is owned by her step-father. Fortune magazine described Israel HaYom as "stridently" supportive of Israeli Prime Minister Benjamin Netanyahu and his center-right Likud party.
 
One source claimed that Patrick Dumont handles the Adelson family investments, and created News + Media Capital Group, LLC specifically to accomplish the acquisition.
 
Another alleged that Dumont was also behind a previous attempt to acquire the Journal which failed.
 
Dumont has so far not commented on either issue, and his wife Sivan hung up when telephoned for clarity by reporters.

Michael Reed, CEO of the company that has sold the LVRJ, New Media Investment Corp., did not respond to repeated calls for comment.
 
The lack of transparency spilled over into politics Wednesday when Rep. Dina Titus took to the Nevada House floor to demand that the buyers identify themselves, associating herself with similar calls from the Society of Professional Journalists and the American Society of News Editors who are demanding transparency.
 
News + Media manager Michael Schroeder has already declined to disclose the acquiring company's investors, as has Review-Journal Publisher Jason Taylor.
 
Frustrating attempts to uncover the people behind the acquisition, News + Media Capital Group, LLC is a Delaware limited liability corporation, and is not required to list its owners in any public document.

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Gambling News :

Pokerstars Now Lead Sponsor of Global Poker League - Alex Dreyfuss Global Poker League has received a significant boost from the announcement by Dreyfuss Mediarex Sports and Entertainment company Friday that online pokers biggest operator, Pokerstars, has signed on as lead and exclusive GPL sponsor.

Betconstruch invests in Ucrafts - BetConstruct may have also been attracted by the obvious interest in Ucrafts business - the start-up has already gained 5,000 subscribers in just a few months of commercial activity.

Plus500 Founders Selling Off Shares - Alon Gonen and Gal Haber respectively sold 7.2 million shares, retaining a 10.4 percent interest in the company; and 2.6 million shares, retaining a smaller stake of just 3.6 percent.

Rush Golf Live Launches - Virtual sports provider Inspired Gaming has announced the launch of its latest product - Rush Golf Live - with Betfred the first operator to carry the game.

British Basketball League in Deal With Perform - The British Basketball League has agreed a six-year deal with Perform, a digital sports content and media group, for the distribution and sale of all global media-related rights.

Ashley Sandyford Sykes Sharing Slot Expertise - Sandyford-Sykes has experience in the development of over a hundred popular online slot titles and led the Quickfire development team at Microgaming.

2016 WPT National Marrakech High Roller Results - Spanish poker pro Nabil Cordoso boosted his career earnings by a useful $66,873 this week when he was awarded the first prize in the PMU.fr WPT National Marrakech High Roller event in Marrakech.

GreenTube and Chopsticks In Partnership - Novomatic Interactive subsidiary Greentube has announced that it has signed a partnership deal with the Gibraltar-based mobile app developer Chopsticks In The Apps Ltd through which it will organize distribution of Chopsticks games through its online, mobile, social and land-based channels.

DraftKings Investigating Collusion Complaint - The stigma of cheating has surfaced again in the daily fantasy sports sector following allegations that two players colluded in a million dollar contest at DraftKings.

Singapore Gambling Exemptions Granted - The issue of certain state-linked commercial organisations being granted exemptions from Singapores tough anti-online gambling laws has been on the table for the past few months and has been the subject of opposition complaints; protest petitions and general argument.

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