Politics

What Did Sheldon Adelson Get for His $200 Million?

The casino owner is still looking for a return on his big political donations.

Sheldon Adelson, chairman and chief executive officer of Las Vegas Sands Corp.

Photographer: Kiyoshi Ota/Bloomberg

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By Christopher Palmeri

July 12, 2017 at 10:00 AM UTC

This article is part of the July 17, 2017 issue of businessweek.

Sheldon Adelson, the billionaire casino magnate, has spent more than $200 million in the past few years championing GOP candidates and conservative causes. With Republicans controlling Congress and a former casino owner in the White House, Adelson, the founder of Las Vegas Sands Corp., should be getting everything he wants. But things aren’t working out that way.

The son of a cab driver, Adelson, who’s worth $33 billion, campaigned for an NFL stadium in his hometown, Las Vegas, only to be squeezed out of the deal by the owners of the Oakland Raiders in January. He spent $12 million fighting marijuana legalization in the past year but lost in three of the four states where he campaigned, including Nevada.