This week at the Global Gaming Expo in Las Vegas, casino tycoons Sheldon Adelson and Steve Wynn each took to the stage, giving keynote addresses during which they reiterated their objection and disdain for online gambling.

Wynn (pictured), CEO of Wynn Resorts, was first up on Tuesday, speaking for 45 minutes and answering a variety of audience questions. When asked what he thought about Internet gambling, he simply responded, “not much.” He explained that for years his advisors had pushed for the company to establish an Internet presence, but an investment of $30-$40 million would be needed to stay competitive and not be “left behind.”

For Wynn, spending such a massive amount to build up an online casino simply isn’t worth it. “Where’s the business opportunity?,” he asked. “You got all these states miserably hungry for revenue, and they all have lotteries… you think they’re going to let private enterprise get this money?”

He also predicted that the IRS would have a field day with the precise data which the online gambling business provides. “Uncle Sam allows some form of Internet gaming and they can see every transaction in Technicolor, every dime you’re making,” he said hypothetically. “How long before that is recognized as the single most unsympathetic tax target on the planet.”

But Wynn’s objection to the industry isn’t solely based on profit potential; he also stated that he “shares Sheldon Adelson’s conviction” that “some kid would get his parent’s credit card, or some guy will pull some baloney and cause havoc in his community.”

Just what he means by “baloney” is unclear, but he went on to claim that for lawmakers, voting in favor of online gambling is a lose lose situation. “If he votes for it and anything goes wrong in that community, he is going to get blamed for it. That’s why there’s no support for it in the House of Representatives.”

But things weren’t always this way; in 2011, Wynn flirted with the idea of partnering with online poker giant PokerStars. At the time, the billionaire worried that online, underage gambling could become an issue, but later admitted that online poker sites “have more control about young people playing then we do.” He also called himself a nonbeliever who was “convinced by the logic of the argument” in favor of the industry and held the “naïve notion that other people might be enlightened by the facts themselves.”

While Wynn’s recent comments against the industry were somewhat unexpected, his friend Sheldon Adelson (pictured) surprised no one with his own. Sitting down with Global Gaming Business publisher Roger Gros, Adelson reiterated his belief that online gambling sites would take advantage of the poor and underage. “You cannot know your customer on the Internet,” he told the audience.

Not letting him off the hook so easily, Gros pushed back, saying, “You know your customer better on the Internet than you do in person.” Adelson, of course, disagreed passionately, and suggested that anyone could simply sign in to their account then hand their phone off to a minor who would do the actual playing.

But with no cases of underage online gambling yet reported in Nevada, Delaware or New Jersey, that argument is starting to become a tough sell. On top of that, Adelson’s own Sands Bethlehem casino in Pennsylvania was fined just this June for allowing underage patrons to drink and gamble. The casino was forced to pay $85,000 for not one, but six instances in which they were caught allowing players under the age of 21 to bet and drink alcohol.

Even so, the Sands CEO continues his fight against the industry through his Coalition to Stop Internet Gambling and mega-donations to friendly politicians. He is currently betting on a bill introduced by South Carolina Sen. Lindsey Graham which aims to ban online gambling by rolling back the interpretation of The Wire Act.

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