While billionaire casino mogul Sheldon Adelson may have rescued Newt Gingrich’s campaign in its early days, today, he may have just buried it.
Bloomberg News reports that Adelson, who has donated $11 million to Gingrich’s Super PAC, does not plan to send any more money Gingrich’s way. Bloomberg is citing an anonymous source “familiar with their deliberations,” though an Adelson spokesman declined to comment.
The move seems to be weeks in the making. After poor showings by Gingrich in the last several races and the re-resurgence of Rick Santorum, the former House speaker has once again been pushed to the back of the Republican field. And Adelson may be shifting his focus. According to CNN, Adelson met with Mitt Romney in Nevada last week and “assured Romney that he will be behind him 100 percent should he become the nominee.”
Newt Gingrich offered something for everyone as he struggled to revive his floundering presidential campaign at the Conservative Political Action Conference (CPAC) on Friday.
But for Gingrich, it may have been too little, too late.
The former House Speaker hit every strong note he could, railing against President Obama and Democrats on the economy, foreign policy, entitlements, energy, taxes and religion.
The audience offered Gingrich polite applause and even a standing ovation or two, but his address had none of the rabid energy enjoyed by Rick Santorum earlier in the day.
Even Mitt Romney, in a perennial struggle to appease conservatives, had lines of activists snaking around a Washington hotel hoping to get into his speech. For Gingrich, the room barely filled at this convention of Republican Party faithful.
...equals the end of the line for Newt. That is, unless he thinks one can fuel a campaign with the insanity of people on conservative message boards. In a week or two they will have gone nearly full circle, from Bachmann to Perry to Cain to Gingrich and finally to Santorum.
Hard to convince people your cause is principled when you've whored out your support to virtually every candidate that set foot in the contest.