Casino magnate identified as Vegas paper’s mystery owner

The casino is owned by Adelson’s Las Vegas Sands Corp.

Las Vegas Sands Owner Sheldon Adelson, who is still trying to see a federal online gaming ban pushed through Congress, had his son-in-law lead the $140 million purchase, the Review-Journal reported this week.

Late Wednesday afternoon, the business magazine Fortune cited “multiple sources familiar with the situation” to identify the 82-year-old Adelson-a cagey billionaire not known for his love of journalists, especially those who have investigated his far-flung casino enterprises-as the newspaper’s latest steward, having purchased the media property from Gatehouse Media, which paid only $102 million in March. Last week, the newspaper was purchased by News + Media Capital Group LLC. Shortly afterward, CNN Money reported the details of an interview with Adelson, in which he said he had “no personal interest in The Review-Journal” – a statement that appeared to leave plenty of wiggle room for other forms of ownership.

Others have been more skeptical of the family’s involvement, since Adelson is a major player in Nevada politics who has donated millions of dollars to Republican candidates across the country. On Tuesday evening, the Republican presidential primary debate was held at one of his hotels, the Venetian Resort Hotel Casino. Adelson previously tried to acquire the LVRJ in February of this year, but its former owner, Stephens Media Group, sold the newspaper to New Media instead.

The Adelson statement said the paper was purchased through a wholly owned fund as an investment both financially and in the Las Vegas community.

News + Media’s manager, Michael Schroeder, said Thursday that he couldn’t immediately provide more information. The agreement means the new owners are also subject to scrutiny from the Justice Department, which could publish documents with further details.

Speculation focusing on Adelson has pundits theorizing that the deep-pocketed GOP kingmaker could be planning to use the paper to sway the presidential race. Israeli political commentators allege that the newspapers, under his ownership, don’t confine their political leanings to the op-ed pages, but have allowed them to influence their editorial coverage as well.

“You don’t say “no comment” all the time”.

The Society of Professional Journalists urged the new owners to come forward, saying the group is “very disappointed and concerned by the owners’ lack of transparency”.

The confusion reached even the newspaper’s leadership, where Editor Mike Hengel said in an email to The Times that “no one has confirmed [Adelson’s ownership] to us”.