Adelsons give Gingrich super PAC another $5 million

at 08:26 AM ET, 04/23/2012

The Adelson family gave a super PAC supporting Newt Gingrich another $5 million in March, bringing the family’s total investment in the lagging GOP presidential candidate’s campaign to more than $20 million.

Miriam Adelson’s latest donation to the Winning Our Future super PAC, recorded on March 21, shows up in a report filed Friday with the Federal Election Commission and comes as a bit of a surprise. Not only is it a surprise because Gingrich’s campaign has no momentum, but also because the super PAC basically hasn’t spent any of the money in the month since she gave it, and because her husband, billionaire casino mogul Sheldon Adelson, said a week after the donation that Gingrich was “at the end of his line.”

Thus, many assumed the Adelsons had stopped funding the former House speaker’s campaign.

The super PAC spent just $1.5 million in March, even though the month featured several Southern primaries in which Gingrich ostensibly could have performed well. But the fresh infusion of Adelson money came in after Super Tuesday on March 6, after primaries a week later in Alabama and Mississippi (where Gingrich placed a respectable second and the super PAC spent about $1 million combined) and just a few days before Louisiana, where the super PAC did spend some money.

Because of the late nature of the donation, Winning Our Future still had $5.8 million cash on hand at the end of March. And since then, the super PAC has not spent any of it on specific primaries, meaning it is likely still sitting on several million dollars that can be used in future contests.

That will be about the only thing keeping Gingrich on TV. His campaign showed more than $4 million in debt in its campaign finance filing on Friday, compared to just $1.2 million cash on hand.

 
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