Sheldon Adelson takes over Sands China
In a surprising announcement, it was revealed earlier this week that following the retirement of Edward Tracy, Sheldon Adelson will take over as the chief executive of Sands China in March. Robert Goldstein, current president and chief operating officer of Las Vegas Sands, will be the interim president of Sands China.
Normally, this wouldn’t even be newsworthy. As the saying goes, the rich get richer. The move comes at a very interesting time at an even more interesting location.
You see, Sands China is located in Macau. Gambling is huge in Macau. It’s been legal to gamble in Macau for well over a century, and the huge gambling industry is undoubtedly enticing for Sheldon Adelson. The one thing that he may not expect in Macau, however, is Internet gambling.
In Macau, online gambling, technically, is legal. Players are free to gamble online, and they do so to take advantage of the no deposit bonuses that sites run. However, officially, these sites aren’t licensed, and as such, are completely unregulated. Casino operators can’t open their gambling sites because there’s no supporting framework to regulate online gambling, nor is there any sort of licensing system.
It’s interesting because Sheldon Adelson is so anti-online gambling. It’s unknown how much revenue online gambling brings in in Macau, but it’s likely a large sum. Once Sheldon Adelson takes over, that could change.
As you’re aware, Sheldon Adelson has made it his personal mission to destroy online gambling in the United States, and it now appears that he’s willing to take his mission internationally. He’s going to face an uphill battle there, just as he is facing here in the United States.
He’ll also have some stiff competition in Macau by Galaxy Entertainment Group, who announced that they plan to open two brand new casino complexes later this year. It will double Galaxy’s space and workforce, and they’re looking to add 8,000 employees by the end of the year.
With Sheldon’s attention focused on his endeavor in Macau, now may be the chance that supporters of online gambling are looking for. It’s not a sign that he’s giving up the fight by any means, but with his attention elsewhere, lawmakers may be able to gather support or pass bills to support online gambling.
It’s still expected that Sheldon Adelson will relaunch the Restoration of America’s Wire Act bill that failed in 2014 later this year. He’s already sought support of lawmakers such as Harry Reid, so when the bill does come back, it’ll come back with the support of a lot of new faces. However, that may not be enough. Online gambling continues to gather support, as well as post huge gains, as evidenced by the numbers that New Jersey posted for December. In addition, more states are considering legalizing online gambling. 2015 could be the year that the tides turn in favor of legalized online gambling.