Casino Mogul Sheldon Adelson Says Online Gambling Is Bad For Society

Casino Mogul Sheldon Adelson Says Online Gambling Is Bad For Society

Casino mogul Sheldon Adelson says that online gambling is bad for society.

In a recent interview, Adelson said that the government should not legalize online gambling because it is bad for society. He also said that it would be difficult to prevent minors from gambling online.

Adelson is a major opponent of online gambling, and he has been lobbying lawmakers to ban it. In 2011, he launched the Coalition to Stop Internet Gambling, which is a group of religious organizations, casino owners, and law enforcement officials who are opposed to online gambling.

Adelson has donated millions of dollars to the group in an effort to ban online gambling. In addition, he has also given money to politicians who support his cause.

So far, his efforts have been unsuccessful. In December 2013, the Department of Justice overturned a ban on online gambling that was put into place by the Bush administration in 2006.

However, Adelson remains hopeful that he can eventually get the government to outlaw online gambling.

Sheldon Adelson: I’m Fighting Against Gambling Addiction

Sheldon Adelson, the billionaire casino magnate, is trying to stop online gambling because of its potential for addiction.

“There’s no question in my mind that a proliferation of online gaming is going to create even more addicts,” said Adelson in an interview with The Financial Times.

Adelson has made it his personal mission to fight the growth of online gambling, and he has already contributed $92 million to the effort. So far, the campaign has been successful in shutting down three out of four bills introduced in Congress that would have legalized some form of online gambling.

Adelson is specifically worried about the impact of online gambling on children and teenagers. “It’s a father or mother’s worst nightmare,” he said. “They think their kids are playing games in their room, but they’re not.”

Adelson isn’t the only one concerned about the potential for addiction with online gambling. Many experts point to the ease with which people can access gambling websites, as well as the lack of social cues that can prevent people from spending too much money on gambling.

“The thing about Internet gambling is it’s just so available all hours of the day and night,” said David Oslin, a psychiatry professor at University of Pennsylvania who has studied problem gambling. “You can lose your job, your house and your marriage without leaving your bedroom.”

Why Sheldon Adelson Doesn’t Like Online Gambling

Sheldon Adelson is a business magnate and the founder, chairman and CEO of Las Vegas Sands Corporation. He is also known for his support of Israel and entrepreneurialism. In early 2017, Adelson made headlines when he revealed that he doesn’t like online gambling and believes it’s a threat to brick-and-mortar casinos.

Adelson has spoken out against online gambling on numerous occasions. In a 2015 interview with the Financial Times, he said that he didn’t believe online gambling was “morally right”, adding that it was bad for society and posed a threat to casino jobs. In a separate interview with CNBC in early 2017, he said that he saw online gambling as a “huge danger” to the casino industry.

There are several reasons why Adelson doesn’t like online gambling. Firstly, he believes that it’s morally wrong and can be addictive for players. Secondly, he fears that it will cannibalize revenues from brick-and-mortar casinos, which is his main source of income. Finally, he believes that it’s too easy for minors to gamble online, which could lead to addiction and other negative consequences.

Adelson isn’t the only one who feels this way about online gambling. Many lawmakers and casino owners share his concerns about its potential negative effects on the industry. However, there are also some people who argue that online gambling can be safely regulated and shouldn’t be banned.

Billionaire Casino Owner Sheldon Adelson Opposes Gambling Online

Casino magnate Sheldon Adelson is fighting a proposed federal ban on online gambling, but his reasons may not be what you expect.

Adelson owns the Venetian and Palazzo casinos in Las Vegas, and he’s vehemently opposed to any kind of gambling expansion – whether it be brick-and-mortar casinos or online gaming.

“It’s immoral,” says Adelson. “It’s a moral issue.”

He’s convinced that online gambling will cannibalize the profits of traditional casinos, and he’s not afraid to put his money where his mouth is.

Earlier this year, Adelson donated $5 million to a PAC opposing expanded online gaming. And he’s pledged to spend millions more in the coming months and years to keep online gambling out of reach of American players.

Adelson has been called the “king of casino moguls” and with a net worth estimated at over $25 billion, he certainly has the resources to make his voice heard.

But not everyone agrees with him. Many industry experts believe that online gambling can be safely regulated and that it would provide much-needed revenue for state governments struggling with budget deficits.

Others argue that it’s simply hypocritical for Adelson – who built his fortune on casino gambling – to now oppose it.

Casino Magnate Sheldon Adelson bets against online gambling

Sheldon Adelson, the casino magnate and one of the world’s richest men, has come out against online gambling, describing it as a “form of addiction”.

In a speech at the University of Pennsylvania’s Wharton School of Business, Mr Adelson said: “Allowing people to gamble online is a form of addiction that I don’t want to see spread. It’s not good for society.”

The comments are surprising given that Mr Adelson’s Las Vegas Sands Corporation is one of the biggest casino operators in the world. However, he argued that the evils of online gambling were worse than those of traditional casinos.

“With online gambling, all you need is a smartphone or computer and you can lose everything within minutes,” he said. “You don’t even have to leave your home.”

Mr Adelson also claimed that online gambling would be a target for terrorists, as it would be easy to launder money through the platforms.

He added: “It’s going to be socialised addiction. It will be open to young people, addictive personalities, people on welfare and people who can least afford it.”

The casino tycoon has already spent over $140 million campaigning against legalising online gambling in the US. This week he announced he was setting up a new organisation called the Coalition to Stop Internet Gambling (CSIG), which will push for a federal ban on the practice.