Casino Magnate Doubles Down On GOP

by InvestorPlace Staff | June 18, 2012 11:39 am

[1]Sheldon Adelson appears to be further hedging his bets on the Republican party.

Having already given $36 million to super PACs supporting Newt Gingrich and Mitt Romney[2] (with some help from his family), Adelson has reportedly forked over more cash in support of the GOP: at least $35 million[3], according to fundraisers familiar with his plans.

The groups benefitting from these donations include Karl Rove-affiliated Crossroads GPS, a nonprofit linked to the Koch brothers, and an organization linked to House Majority Leader Eric Cantor, R-Va.

Adelson has apparently told friends that he may donate as much as $100 million to conservative causes and Republican candidates. With a grand total of $71 million donated to date, he appears well on the way to matching or surpassing that total.

For more information on this story, check out this Huffington Post article[4].

— Benjamin Nanamaker, InvestorPlace Money & Politics Editor

The opinions contained in this column are solely those of the writer.

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