Boston, MA 04/02/2014 (wallstreetpr) – Las Vegas Sands Corp. (NYSE:LVS) owned by Mr. Adelson is all set to support the bill, which seeks to impose a ban on online betting. If that is what it takes for the company to be able to multiply it’s profits then it is clearly up for the show.
Expected Ban on Online Betting
The bill has been introduced in South Carolina that seeks to put a ban on online betting. Sheldon G. Adelson is the owner of Las Vegas Sands Corp. (NYSE:LVS), according to whom online betting has been and will always bad for gamblers and casinos, has advocated the Bill. Mr. Adelson also threatened the American Gaming Association that he would quit the same if they continued to support the expansion and growth of the online gambling industry. He has also initiated the Coalition for Consumer and Online protection, which is pursuing his efforts to outlaw online gambling.
Some online poker companies and casinos are trying to counterattack this group’s efforts. The head of Government Relations at Caesars Entertainment, Jan L. Jones says that this incident is unfortunate as the gambling industry is trying to sabotage itself through this bill. She clearly stands with those opposing the bill. Companies like Caesars Entertainment and MGM Resorts International (NYSE:MGM) are in complete support of the online gambling business as they see it as a lucrative new market. While, on the other side of the coin is the Lase Vegas Sands, one of the world’s biggest casino resort companies is advertising the ban.
Company’s History in Online Gambling
Few people might know that Las Vegas Sands Corp. (NYSE:LVS) itself had tries to explore the online gambling platform by launching its site there. The company had invested somewhere around $1.3 million in the process. But the vice president of the Company, Andy Abboud says that the company has no remaining interests in the field of online gambling, at least not of the kind that would be outlawed by the bill.
