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Sheldon Adelson criticizes Internet gambling

By WTOP Staff

KIMBERLY PIERCEALL
Associated Press

LAS VEGAS (AP) — Billionaire Sheldon Adelson repeated his distaste for Internet gambling during a talk Wednesday night at the G2E Global Gaming Expo in Las Vegas, saying there was no reason casinos should be in the pockets of every single American.

“You cannot know your customer on the Internet,” he said. He posed a hypothetical situation involving a person of legal age signed in on a mobile device to an online game who then passed the device off to a minor.

Adelson is the CEO and chairman of the Sands Corp.

His harsh rebuke of legalized Internet gambling prompted scattered applause in the crowd of casino industry members. Sitting in the front row was fellow billionaire and casino mogul Steve Wynn who spoke the night before.

Throughout the talk that touched on topics such as international gambling destination Macau and New Jersey’s troubled casino industry, Adelson explained why he wasn’t interested in vying for a casino license in Boston like Wynn who won the chance to build a hotel-casino downtown.

Adelson said his business model which includes massive hotel-casinos and meeting spaces wouldn’t work in Boston. As for New Jersey, Adelson said he would be interested in revamping the Meadowlands Sports Complex in northern New Jersey depending on what the government there was looking to do.

As a significant fundraiser for the Republican Party, Adelson has been considered a polarizing figure.

Lately he’s been been vocal about his distaste for online gambling and desire for the federal government to ban it.

Critics have said it’s because Internet gambling could be steep competition for Adelson’s physical casinos. Adelson reasoned Wednesday that it was because there’s no knowing who was gambling and no way to keep people who shouldn’t, from doing so. He said he didn’t want other families to suffer the “scourges” of gambling like his family did. He said his father was a gambler.

The annual expo held this year at Adelson’s Sands Expo and Convention Center has been known to attract 26,000 people in the casino business.

Adelson recently dropped a spot to 12th on the Forbes list of the richest people in the U.S. despite being worth nearly $3 billion more than the year before. Forbes places his worth at $31.4 billion.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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