Monthly Archives: January 2021

Sheldon Adelson Takes Medical Leave of Absence to Receive Cancer Treatment

Sheldon Adelson has taken a medical leave of absence from Sands Corp, the parent company of Las Vegas’ Venetian Resort and Casino, to undergo cancer treatment.

Sheldon Adelson is battling cancer. (Image: LA Times)

Adelson was diagnosed with non-Hodgkin’s lymphoma last year but remained in his role as the CEO of LV Sands, the company he founded in 1988. The multibillionaire is a top Republican megadonor who donated to President Trump’s campaign in 2016 and then his reelection effort in 2020.

He’s also the top opponent of online poker legalization in the US. The casino mogul has fought long and hard to ban all forms of internet gambling at the federal level for years. His efforts have been moderately successful. Although he hasn’t achieved his goal of completely banning online poker nationwide, his lengthy fight and lobbying efforts has made it difficult for online poker legislation to progress in the US.

Rough Finish Again for Negreanu, But He Still Books a Small Win

Daniel Negreanu booked yet another winning session against Doug Polk Friday afternoon. That makes it five out of the past six. But he’s been unable to finish strong recently, and it’s preventing him from putting a serious dent in the lofty deficit.

Daniel Negreanu is slowly chipping away at Doug Polk’s lead. (Image: YouTube)

In recent days, the sessions have gone in a similar fashion. Negreanu jumps out to an early lead and then coasts until late when Polk begins to take over the match and get most of the deficit back. Friday’s session was no different. With that said, it was still a winning session for Negreanu, which is obviously better than losing, as he attempts to climb out of a deep hole.

The day began at 2:30 pm on the WSOP.com poker site with Polk leading by $644,000 through 13,750 hands. That may seem like a massive lead, and it is, but it pales in comparison to the previous $950,000 lead. Still, Polk remains a heavy favorite despite the recent downfall.

Phil Galfond Starting to Run Away with Galfond Challenge vs. Chance Kornuth

The Galfond Challenge is starting to turn into a blowout as Phil Galfond is now running away with the match against Chance Kornuth. But this lengthy competition is far from over.

Phil Galfond is beginning to run away with the third Galfond Challenge. (Image: Twitter)

The third installment of the Galfond Challenge has taken fans on quite a roller coaster ride. And you should probably expect many more twists and turns before it concludes.

Galfond entered the match as a 4-1 favorite and laid those odds ($1 million to $250,000) on a side bet with Kornuth, the founder of Chip Leader Coaching. The favorite came out of the gates in the 35,000-hand pot-limit Omaha online competition guns a blazing. He busted out to a $180,000 lead early on a few months ago. Kornuth then took over the match, dominating for a two-month period. At one point, he led by as much as $350,000.

Las Vegas Sands throws hat into US sports betting ring

Casino operator Las Vegas Sands is belatedly tossing its hat into the US sports betting ring, upending the longstanding antagonism toward online gambling displayed by the company’s founder. 

On Friday, Bloomberg quoted sources who claimed Sands president Rob Goldstein – now acting CEO/chairman after Sheldon Adelson went on medical leave – was having early talks with an unspecified number of prospective sports betting technology partners. Sands shares enjoyed a brief spike on the news but closed Friday down 0.4%. 

Bloomberg didn’t identify any of Sands’ prospective partners, but suggested that the betting product that ultimately emerges could either be an existing platform with the Sands brand attached or a bespoke platform. Naturally, neither Sands nor Goldstein are saying anything to unmuddy these waters. 

There is of course no reason to expend any effort trying to gain market share in the US sports betting market if you don’t have an online component. New Jersey, which surpassed Nevada last year to become America’s top betting state, derived 93.6% of November’s record $931.6m betting handle from its digital sportsbooks.