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Capitol Hill Prepares for Adelson’s Anti-Gambling Bills

Capitol Hill Prepares for Adelson’s Anti-Gambling Bills

Capitol Hill is gearing up for a fight over online gambling. The fight is due to Sheldon Adelson’s determination to see a federal ban on online gambling. It will begin as soon as companion bills are filed in each chamber, this will happen before the end of this week thanks to Sen. Lindsey O. Graham and Rep. Jason Chaffetz.

Capitol Hill Prepares for Adelson’s Anti-Gambling Bills

This week will see bills filed in each chamber written by the Coalition to Stop Online Gambling.

Both bills have been written by the Coalition to Stop Online Gambling, the group funded by Adelson. The general feeling on Capitol Hill is that the bills won’t pass which could leave the Republicans in an awkward situation as he has donated hundreds of millions to the party.

A major problem with the bills is that they would prohibit the Powerball and Mega Millions lottery games.

A letter from the Democratic Governors Association (DGA) warns that the bills would “financially crush state funded government services.”

The DGA argues that the bills will expand the scope of the Wire Act to the point that multi-state lotteries are included. This could mean that state governments would lose up to $20 billion in lottery revenue.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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