Sheldon Adelson to Invest $35B Into Spain Casinos
Online Poker Opponent Continues Casino Development Overseas
Online poker adversary Sheldon Adelson is sticking to his brick-and-mortar business in a big way. On Tuesday, Reuters reported that the casino boss announced plans to spend $35 billion to develop properties in Spain.
Adelson was reportedly speaking at a press conference in anticipation of the opening of a $4 billion casino in Macau. The billionaire is also interested in a handful of other Asian countries.
The 78-year-old CEO of Las Vegas Sands Corp. is one of the richest men in the world and most successful casino developers, but has remained opposed to gaming in cyberspace.
Late in 2011, the Las Vegas Review-Journal reported that Adelson is morally opposed to the federal legalization of online poker and doesn’t believe technology exists to prevent underage gambling.
His views are in stark contrast to those of his U.S. peers, such as the leaders of Caesars Entertainment Corp. and MGM Resorts International.
While Adelson is making news overseas, Nevada is on the verge of making U.S. gaming history by licensing its first companies to run web poker. More than 20 entities have submitted paperwork to regulators, and Sands hasn’t been one of them.
Follow Brian Pempus on Twitter — @brianpempus
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