Posted on: October 5, 2024, 09:52h.
Last updated on: October 5, 2024, 09:54h.
Dr. Miriam Adelson, the controlling shareholder of Las Vegas Sands, helped the Republican Party put on its 2024 Convention in Milwaukee.
Adelson, 78, has seen her fortune grow in recent days as Sands’ stock soared on news that China would be issuing one-time cash payments to most citizens to ignite its feeble economy. On Friday alone, Sands’ stock climbed over 1% to push Adelson’s estimated net worth up by $236 million. Her fortune is again upwards of $35 billion.
The LVS stock gains will provide Adelson with more than enough money to pay back the money she’s spent this 2024 election cycle. Newly disclosed campaign finance records reveal that Adelson helped pay for the July Republican National Convention where Donald Trump formally accepted the party’s nomination for president for a third time.
Federal Election Commission records show Adelson contributed $3 million to the party gathering. The billionaire cut two checks, one for $1 million and another for $2 million two weeks later to the 170 Freedom Milwaukee 2024 Host Committee, Inc.
Trump and Vice President Kamala Harris are in a dead heat with just a month remaining before the Nov. 5 election. The betting odds and polls suggest either candidate could come out the victor to become the 47th president of the United States.
Convention Contributors
170 Freedom Milwaukee saw several other gaming industry entities contribute to its hosting of the 2024 Republican Convention.
DraftKings and FanDuel each gave $500K. Both companies operate daily fantasy sports in Wisconsin. DraftKings also runs a retail sportsbook at the Lake of the Torches Casino, a resort owned by the Lac Du Flambeau Band Of Lake Superior Chippewa Indians.
Hard Rock International, which is partnered with the Ho-Chunk Nation on a casino proposal for Kenosha, gave $250K to 170 Freedom Milwaukee. Blackstone, the private equity behemoth that has ownership in the physical real estate of Las Vegas’ Bellagio, The Cosmopolitan, Aria, and Vdara, contributed $750K.
The gaming industry’s magnates tend to favor Republicans. Along with Adelson and Blackstone founder Stephen Schwarzman, notable billionaires engaged in the business of casino gambling who are Republican stalwarts include Lorenzo and Frank Fertitta, Steve Wynn, Tilman Fertitta, and Phil Ruffin.
The Democrats raised even more money for its August convention in Chicago than did the Republicans. Billionaire Neil Bluhm, a Chicago native who founded Rush Street Gaming and the Rivers casino brand, contributed $371,700 to the Dems’ convention.
Team Trump, Team Harris
Along with her convention funding, Adelson in May gave $5 million to Preserve America, the super PAC committed to electing Trump back into the White House. She also gave $844,600 to the Trump 47 Committee.
While Adelson is expected to be Trump’s largest donor again, several other casino tycoons are donating heavily to the Republican’s effort.
In April, Tilman Fertitta and Ruffin each gave $814,600 to the Trump 47 Committee. Wynn gave $806,300. Ruffin also gave $2 million to the Make America Great PAC.
For Harris, Bluhm cut the Democrat’s campaign a check for $929,600. MGM Resorts CEO Bill Hornbuckle and his wife Wendy gave the Harris campaign about $20,000.
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