The Nevada Gaming Control Board has been watching closely the sale of the Las Vegas Review-Journal to casino mogul Sheldon Adelson and his family, local media reported.
Citing state gaming regulations, A.G. Burnett, Chairman of the regulator, explained that the Board has the right to investigate the transaction, given the fact that the name of a prominent gambling figure is involved in it. Mr. Adelson being involved in the purchase of the news outlet is not a precedent for a gaming license holder to also be the owner of a publication. Up until 2014, Brian Greenspun, publisher of the Las Vegas Sun, owned certain small casinos across the state.
The Las Vegas Review-Journal’s sale attracted quite a lot of attention even before it became clear that Mr. Adelson was somewhat involved in it. The $140-million transaction was closed and announced on December 10 and Delaware-based corporation News + Media LLC was listed as the publication’s new owner. A week later, the Las Vegas Review-Journal revealed that Patrick Dumont, who is, by chance, Mr. Adelson’s son-in-law, was behind the multi-million-dollar deal.
It is still unclear what the newspaper’s new owner would do with it but many suggested that the casino mogul may use it to influence the gambling industry. Mr. Adelson, Chairman of casino giant Las Vegas Sands, is known to be a staunch opponent of the legalization of online gambling in the States. The casino executive has repeatedly pointed out that he would do his best to prevent Internet gaming options from being further legalized. His stance on the matter has event put him at odds with other major gambling companies, with MGM Resorts International and Caesars Entertainment Corp. being among those.
Commenting on his involvement in the purchase of the Las Vegas newspaper, Mr. Adelson told media that he and his family would not hire its new editor and would leave such matters to its current management. Las Vegas Review-Journal will soon have to find a new editor as Michael Hengel, who has taken the post since 2010, announced his departure last week.
Mr. Adelson further pointed out that he does not have any financial interest in the publication and that he has nothing to do with its purchase. The casino executive also said that neither he nor his family would be operating the Las Vegas Review-Journal as under the terms of the acquisition deal, it is to be managed by its former owner GateHouse Media.
