Las Vegas Sands Chief raises concerns over the state of internet gambling in US

On Wednesday, executive from a top casino and heads of a number of gambling machine makers have all agreed upon the fact that the presence of online gambling is inevitable in US. They also believe that signs of vulnerability are there for overseas online gambling operations amongst the customers and US companies.

However, the CEO of Las Vegas Sands Corp, based in Las Vegas, differed with other leaders from the gambling industry during a panel discussion at the Global Gaming Expo. They were discussing on the fact whether the federal government or the states are going to be able to provide the oversight on the matter of online gambling in US.

Michael Leven, chief of Las Vegas Sands, outlined a few doubts raised by Sheldon Adelson, a company magnate. Adelson fears that there is going to be an impact on the profitability from internet gambling for operators providing online gambling in the country, in case several operators start getting involved. He also bought about a fact that internet gambling is going to attract college students, who will be losing a lot of money in the process.

After sharing fears of Adelson, Leven said, “Even though his concerns are something, which we should keep in mind, but we know that it is coming. I agree with Adelson on the point that individual states, and not federal government, should make the final decision on adopting gambling regulations. All of us have concerns with regards to any bill, which will be adding more to the strength of the federal government. Most of us believe in the right of the state and we would not wish to see the government get any bigger.”

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