Although casino magnate, Sheldon Adelson probably makes 150 million a day in casino revenues, to the average person, that is a huge sum of money to spend supporting a candidate…
Casino magnate Sheldon Adelson vowed to spend as much as $100 million to defeat President Barack Obama and help the GOP take control of Congress. According to two GOP fundraisers with close ties to the Las Vegas billionaire, he made good on that promise — and then some. Adelson ultimately upped the ante, spending closer to a previously unreported $150 million, the fundraisers said.
Adelson, a fierce critic of Obama’s foreign and domestic policies, has said that his humongous spending was spurred chiefly by his fear that a second Obama term would bring “vilification of people that were against him.” As that second term begins, Adelson’s international casino empire faces a rough road, with two federal criminal investigations into his business.
This coming week, Adelson plans to visit Washington, according to three separate GOP sources familiar with his travel schedule. While here, he’s arranged Hill meetings with at least one House GOP leader in which he is expected to discuss key issues, including possible changes to the Foreign Corrupt Practices Act, the anti-bribery law that undergirds one federal probe into his casino network, according to a Republican attorney with knowledge of his plans.
During the election, Adelson told Politico that the Justice Department investigation, and the way he felt treated by prosecutors, was a primary motivation for his investment in Republican presidential nominee Mitt Romney and other GOP candidates. He put his money where his mouth was. The two GOP fundraisers, both with strong ties to Adelson, said that the casino mogul dished out close to $150 million, including between $30 million and $40 million to the Karl Rove-founded Crossroads GPS and at least $15 million to grassroots efforts with financial links to Charles and David Koch. Among other major beneficiaries of Adelson’s largess were the U.S. Chamber of Commerce, which received almost $5 million from Adelson, and the Republican Jewish Coalition, which got the bulk of its $6.5 million budget from him, the fundraisers said.
All of these are non-profit groups, which — unlike the super PACs that raked in $54 million in funds from Adelson and his wife — are not currently required to disclose their donors. Adelson’s public spending spree, larger than any other donor’s in the last election, was made possible by two high court rulings in early 2010 that allowed corporations, unions and individuals to write unlimited checks to outside groups for political ads and other activities backing candidates
The two fundraisers who provided information to The Huffington Post represented separate groups that each received seven-figure checks this year from Adelson. The fundraisers learned details of Adelson’s spending plans about a month prior to the election: one heard of them in a talk with the casino owner himself, while the other didn’t indicate if his information came from Adelson or a top aide to the billionaire. Both requested anonymity to protect their ties to Adelson and because they were not authorized to speak publicly about his giving.
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