Sheldon Adelson suffers political setback
Thursday June 12,2014 : POLITICAL SETBACK FOR ADELSON
Could Virginia victory have online gambling legalization consequences?
Anti-online gambling crusader and land casino mogul Sheldon Adelson may have suffered a political setback this week with the defeat of his favoured candidate in Virginia's Republican primary elections.
The publication Investors Business Daily reports that House Majority Leader Eric Cantor was defeated by Tea Party challenger David Brat in the contest for political power.
IBD quotes a report written by Union Gaming analyst Robert Shore, who noted:
"Cantor counted Sheldon Adelson, who publicly sank at least $10 million into Cantor-backed super-PACs through 2012, among his staunch backers."
Other analysts told the publication that while the implications for Adelson's anti-online gambling initiative are not yet clear, with Cantor out of the picture the odds could change for legalising online gaming nationally.
On the other hand, Adelson will be encouraged by the news that another ally in his internet gambling banning efforts, Senator Lindsey Graham, defeated challengers in South Carolina to gain his party's nomination Tuesday.
Graham's name came to prominence in the industry earlier this year when he introduced an Adelson-inspired bill to Congress seeking to impose a ban on US internet gambling by resurrecting and strengthening the old Wire Act