When money talks, few are deaf

When addressing the subject of Sheldon Adelson (must we?), the extent to which he has stolen Wynn’s thunder and lightning was made manifest by a lengthy Politico.com profile. Adelson (right, ca. 1998), who can often behave like a colicky infant, was on his best and most statesman-like behavior. Although his assertion that “I do whatever it takes, as long as it’s moral, ethical, principled, legal” should cause the Las Vegas Valley to resound with gales of laughter — partly because of how Adelson’s conducted himself in the past, and partly since it’s coming from a man who’s under scrutiny for possible Foreign Corrupt Practices Act violations. Need I remind anyone that this is the man who considers it immoral to gamble on the Internet … but not in his casinos? He should have simply said, “I do whatever it takes.” Nobody would dispute that, not least in a year when he’s spending $100 million to purchase the White House and a tranche of Congress into the bargain. (According to Politico, Adelson “is rarely seen or heard.” Hahahaha! That’ll be the day!)

And what a bargain it is: A potential $2 billion in tax cuts for Adelson, including a tax holiday on all of Las Vegas Sands‘ overseas profits … compared to which, his stateside earnings are chicken feed, 10% of total revenue. That’s a 2,000% ROI — potentially the highest-return investment Sheldon has ever made. (Since Macao-centric Wynn Resorts and MGM Resorts International also stand to gain, you can easily see why Wall Street is willing to extend unsecured credit to MGM while Caesars Entertainment is looking under Gary Loveman‘s sofa cushions for spare change.)

Rather candidly for him, Adelson’s #1 reason for his campaign largesse is staying out of jail (or “self-defense,” as he calls it). Since the consistently more strident Steve Wynn has not been under federal investigation for alleged jiggery-pokery in China … well, it wouldn’t be an Adelson interview without a large side order of paranoia, would it? To hear Sheldon tell it, he is the axis upon which the world spins.

Adelson’s also been putting pen to paper (or having someone do it for him) on matters of foreign policy. However, since he had to do it on a Web site he owns, score a point for Wynn, who can at least get air time on other companies’ media. But “robber baron” Adelson did notch five pages of largely respectful coverage from Politco, which nails the salient phenomenon on page two: “a party animated by revulsion at the looseness and vulgarity of modern life, and the lapse of traditional values, now depends on a huge funding stream from America’s capital of sin.”

In value-neutral terms, six years ago, being bankrolled by a casino mogul was an issue in itself. (Some Adelson-backed congressional candidates learned this the hard way.) It certainly wasn’t something that politicians proudly touted. Whether or not the chattering classes have matured, the casino industry has come so far up in the industry that the newsworthiest aspect of Adelson’s electoral involvement this year is the amount of money, not how he made it or where. “Casino” has ceased to be a euphemism for “dirty money.” So if Sheldon Adelson (above, present day) is a walking, talking laundromat of the industry’s image and standing as a political player, his colleagues ought to be sending him thank-you notes. (He also seems to have accomplished that miracle of miracles, cost-efficient campaign spending.)

Incidentally, Adelson claims to have gone through 50 jobs in 67 years (less than that, once you subtract his Las Vegas Sands tenure). Makes you wonder what kind of employee he was. Sheldon must have the world’s only resumé that could be published in hardcover.

Don’t mess with Area 51! A conspiracy-minded British film crew infiltrated Nevada‘s worst-kept secret and were so busted. Considering the circumstances — and the tinfoil-hat mentality of the TV crew — my sympathies are entirely with Area 51 and think that the Sneaky Petes from Britannia got off easy.