The election’s biggest loser

12 Nov

It wasn’t a politician.

It was a man with deep pockets who picked the wrong side.

Sheldon Adelson gambled more than $54 million on last week’s elections.

And he lost.

The chairman of the Las Vegas Sands gaming company stood at the top of campaign giving for 2012.

He almost single-handedly backed the campaign of Republican Newt Gingrich and when it folded, he went on to throw millions more to GOP nominee Mitt Romney and two superPACs supporting his run for office.

In addition to backing Gingrich and Romney, Adelson and his relatives donated to the House campaigns of Allan West of Florida and New Jersey Rabbi Shmuley Boteach.

He also threw money at the Senate runs of Virginia’s George Allen, Florida’s Connie Mack, and Texas’s David Dewhurst.

All lost.

It probably isn’t much of a dent on his checking account – the guy is worth over $20 billion.

$54 million is pocket-money to someone like that.

But all that money isn’t buying him much peace.

It’s been reported that Adelson’s company has been the target of a criminal investigation by the Department of Justice and the Securities Exchange Commission for alleged bribery of foreign officials.

A separate civil lawsuit filed by a former executive further alleges that Adelson ordered him to keep quiet about the casinos’ supposed “involvement with Chinese organized crime groups.”

There’s an old saying that people donate to campaigns, especially extremely large amounts of money, because they want access to the winner.

They want an appointment or an ambassadorship.

They want the ability to pick up the phone and call the White House.

Adelson won’t get that.

He has cut himself off by coming out so strongly on the Republican side.

There’s another old saying – especially in Vegas – you roll the dice and take your chances.

Craps for Mr. Adelson.

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