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The casino industry is full of contradictions. Steve Wynn's father was a degenerate gambler who died with serious gambling debts. Sheldon Adelson, who has mad
by downandout 10y ago
The casino industry is full of contradictions. Steve Wynn's father was a degenerate gambler who died with serious gambling debts. Sheldon Adelson, who has made billions from gambling addiction, has spent millions fighting online gambling. Why? Here's a direct quote [1]:
"[My father] was poor, but he loved to gamble. I saw the cost of a family immersion into losing money on gaming. When I look at people like that, I see the faces of my parents."
Yet he has no issues with taking money from such families on an unprecedented scale - as long as it's in person. You have to be very...."morally flexible"......to work anywhere near the gaming industry. It is built specifically to create and exploit gambling addiction - roughly 50% of revenue comes from 2% of players.
[1] http://www.fool.com/investing/high-growth/2014/10/20/g2e-2014-why-las-vegas-sands-sheldon-adelson-is-fi.aspx http://www.fool.com/investing/high-growth/2014/10/20/g2e-201...
- beggi 10y agoSame thing from most in-app purchase based games.
- alasdair_ 10y ago>Sheldon Adelson, who has made billions from gambling addiction, has spent millions fighting online gambling. Why? Here's a direct quote I would venture that the main reason he fights against online gambling is so that people that wish to gamble legally need to come to his physical casinos instead. It's the same reason that online poker is specifically outlined in Washington State - the native American casinos in the state (especially Puyallup) donated a LOT of money to candidates to make that happen.