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Gaming regulators Keeping an eye on Sheldon Adelson
Thursday December 31,2015 : U.S. GAMING REGULATORS KEEPING AN EYE ON ADELSON TAKEOVER OF NEVADA NEWSPAPER (Update)
Las Vegas Review-Journal acquisition will also be watched by gaming regulators in Pennsylvania.
Gaming regulators in Nevada and Pennsylvania, where multi-billionaire casino tycoon Sheldon Adelson has gambling interests, will be monitoring his family's $140 million acquisition of the Las Vegas Review-Journal, the publication reported this week.
Nevada Gaming Control Board chairman A.G. Burnett told Journal reporter Howard Stutz that Nevada gaming regulations and the state's public policy covering gaming licence holders give regulators the right to look into the transaction, in which the Adelson family's News + Media LLC company paid a premium price for the newspaper.
Burnett said the agency was following the coverage by the RJ, the Los Angeles Times, New York Times and numerous other publications and websites.
"We are watching all of these developments very closely," Burnett said. "Of course, it's incumbent upon all gaming license holders to avoid actions that go against the morals, good order and general welfare of the people of the state of Nevada, and to avoid doing anything that reflects or tends to reflect discredit on the state.
"I'm sure Mr. Adelson and his team are doing their utmost to do that."
Gaming regulators in Pennsylvania have also confirmed that they are watching developments closely. Doug Harbach, a spokesman for the Pennsylvania Gaming Control Board, said that the board is aware of the purchase of the newspaper by the Adelson family.
Stutz reports that the regulators will be watching to ensure that Adelson does not use the Review-Journal to influence gaming industry public policy.
"Adelson is opposed to the further legalization of online gaming, which puts him at odds with other gaming companies, including Caesars Entertainment Corp. and MGM Resorts International," Stutz observes.
Adelson has declined Journal requests for an interview and his Las Vegas Sands spokesman has declined to comment on the acquisition, although Adelson has told the Reuters news agency that his family will largely be "hands-off" on the newspaper's editorial decisions.
Journal editor Michael Hengel recently accepted a package to bow out
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