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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 :

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

Jack Lam denies bribe allegations - Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.

Fonbet Gets Russian Betting License - #Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.

New Attempts to Restore the Wire act - In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.

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