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Casino owner pumps $5M into pro-Gingrich group

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CCasino owner pumps $5M into pro-Gingrich group asino mogul Sheldon Adelson is investing $5 million in a "super PAC" trying to boost Republican Newt Gingrich's presidential campaign.

Adelson, chairman and CEO of the Las Vegas Sands Corp., is prepared to contribute as much or more to the eventual GOP nominee -- even if it's not Gingrich, according to the Associated Press. The AP cited an unnamed source who requested anonymity because he was not authorized to discuss the matter publicly.

STORY:  Super PACs flow into early states

Gingrich was the target of attack ads paid for by Restore Our Future, a political action committee supporting Mitt Romney. Super PACs can raise and spend unlimited amounts of money from wealthy individuals, corporations and unions, but they cannot coordinate with the candidate they support.

The anti-Gingrich ads contributed to his tumble from the top of the public opinion polls in Iowa, where he eventually finished fourth last week's caucuses.

Adelson's $5 million donation to Winning Our Future, the independent group supporting Gingrich, was made Friday and first reported by The Washington Post. His company owns The Venetian casino and resort on the Vegas strip.

Rick Tyler, a spokesman for Winning Our Future, told USA TODAY's Fredreka Schouten recently that the group intends to "rise to the occasion" to support Gingrich.

Read more http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFxjTCDwGdclJEi8PXsNesas_H9gg&url=http://content.usatoday.com/communities/onpolitics/post/2012/01/newt-gingrich-super-pac-sheldon-adelson-/1

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William Hill

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