Much like Steve Wynn, who owns the Wynn casino in Las Vegas and Macao, Sheldon Adelson wants a Republican in the White House next year. Adelson, chairman and CEO of Las Vegas Sands Corp., which has properties on the strip and also in Macau, has investing $5 million in a "super PAC" trying to boost Republican Newt Gingrich's presidential campaign. According to the Associated Press (citing an unnamed source), Adelson is ready to contribute even more to try to win the White House for a GOP nominee.
At the same time, Las Vegas (and statewide Nevada casinos) properties are reporting their income is still lagging and the recession has not abated when it comes to gaming income. Both Adelson and Wynn have seen their Las Vegas resort income dwarfed by that made at their casinos in Macau. That's more a reflection of the great strides mainland China has made in the past few years economically, as the money flowing through Macau's 12 casinos is more than all Las Vegas casinos combined.
Wynn stated earlier this year that a change was needed in current US Government policies to ease the availability of loans and to give confidence to business owners/builders - both of which would help expansion in Las Vegas.
Meanwhile, expansion in other states continues, with Wynn considering a new casino venture in Massachusetts. Regardless of the impact of casinos in Mass. and Ohio, it is Florida that should have Las Vegas the most worried. Las Vegas may be "VEGAS" and the Bellagio may have its fountains and lake, but beautiful casinos along the shore of Florida will be a huge draw for casino goers.
Comments
If he is so concerned about the White House, why didn’t he take care of the U.S. Senate when he had a chance last year. Harry Reid is STILL the senior senator from Nevada. A lot of Blow but no Go! He could have produced results long ago — he’s lame.