World’s Richest Casino Exec Opposes Online Betting

The world’s richest casino executive and chief of the Gambling Industry’s largest publicly traded company has decided to come out publicly against online gambling.

Sheldon Adelson, the chairman of the billion dollar casino chain, the Las Vegas Sands Corporation, has revealed that he is totally opposed to online gambling due to the fact that he believes that available technology is not yet secure enough to stop young people from wagering on the Internet.

Sheldon met with Republican leaders last week in an attempt to convince them not to support the introduction of a legalized and regulated online gambling industry in the United States.

A spokesperson for Adelson, Ron Reese, reported that the 16th richest man in the world’s viewpoint did not reflect the opinion of the Las Vegas Sands Corporation but is his own observation of concerns about technology.

Chief Executive Officer of the American Gaming Association, Frank Fahrenkopf, revealed that he had met with Adelson recently and was told by him that he would oppose any legislation to legalize online poker in the United States. Fahrenkopf added that Sheldon was perfectly within his right to make such a decision as he has had concerns about this issue for a long time.

The American Gaming Association, at the discretion of their board of directors, will carry on supporting federal legislation for states to be allowed to license and regulate online poker.

According to Fahrenkopf, the association would like federal legislation that permits states to make the decision whether or not to offer poker to its residents and prevents children from gambling online.