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Adelson Nixes New Casino Plan

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Chairman and CEO of Las Vegas Sands Corporation Sheldon Adelson

Sheldon Adelson photo by Aaron Tam/AFP/Getty Images)

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BOSTON (AP) — Billionaire gambling mogul and Boston native Sheldon Adelson says he is no longer interested in opening a casino in his home state.

A spokesman for Adelson’s company, Las Vegas Sands Corp., said Monday that Adelson will bypass the chance to build a casino in Massachusetts because the state’s plan to license up to three casinos and a slot parlor is going to dilute the market.

Adelson’s decision comes two weeks after another major name in the industry pulled back from plans to expand into Massachusetts. Steve Wynn abandoned plans to build a resort in Foxborough near Gillette Stadium because of local opposition.

Stephen Crosby, chairman of the Massachusetts Gaming Commission, did not comment directly on Adelson’s decision, but told The Boston Globe that “competition is good.”

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Information from: The Boston Globe, http://www.boston.com/globe

Copyright 2012 The Associated Press.

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