I already got out of the game.
"Adelson won’t seek a casino in Mass." May 22, 2012|Mark Arsenault, Globe Staff
Forbes pegs billionaire Boston native Sheldon Adelson’s net worth at $24.9 billion, ranking him the
world’s 14th-richest person. Adelson’s Venetian hotel is a top
attraction for sightseers on the Las Vegas Strip, incorporating canals
and gondolas, and an indoor shopping and dining plaza designed to
recreate Venice at dusk. He has spent billions developing resorts in
Macao, China, and Singapore, which have become huge gambling markets.
Back
in 2007, as Massachusetts was giving serious consideration to
legalizing casinos, Adelson expressed interest in developing a casino
around Marlborough, near the intersection of the Mass. Pike and
Interstate 495. But more recently he hinted he had lost interest in his
native state.
He cares more about Israel anyway.
In a call with investors late last year, Adelson talked up
the potential of Asian expansion and admitted he was less enthusiastic
about emerging domestic markets, which he sees as far less lucrative.
Meaning you have no money, American.
Stephen
Crosby, chairman of the Massachusetts Gaming Commission, said the panel
is thinking carefully about how much casino gambling the Massachusetts
market can handle. The commission will tackle the question at a forum it
is hosting in June.
“One
of the things we have to do is re-look at what the market could bear,
and see what is the economic prognosis for the model in the legislation
[three resorts and a slot parlor] in today’s environment,’’ said Crosby.
“We’re going to reconvene all of the people who have done projections
and we’re going to say, ‘What do you think of your projections now?’ I
think the casino legislation gives us the room to think carefully about
the competitive environment and the size of the market and to act
accordingly.’’
In late February, Adelson terminated his
Massachusetts lobbying firm, Donoghue Barrett & Singal, after
spending more than $470,000 on lobbying in the Bay State from 2009 to
2011, according to records in Secretary of State William Galvin’s
office.
Professor Clyde Barrow, a casino specialist at the
University of Massachusetts Dartmouth, said Adelson has been consistent,
having recommended five years ago that Massachusetts limit the state to
one casino.
Since then, he said, Adelson has focused on markets overseas.
“A
lot of Wall Street investors have criticized him for getting involved
in Sands Bethlehem [a casino in Pennsylvania] even though it has been a
profitable facility,’’ said Barrow. “The view has been, ‘Why are you
wasting your time on something that small when you have all the stuff
going on in Macao?’ ’’
'Cuz that's where the action is.
And why am I wasting my time?
--more--"
Also see: Foxborough Voters Make Wynn Fold
