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Sheldon Adelson reportedly has said he will donate "whatever it takes" to defeat President Obama.

Forbes Magazine reported Thursday that a source close to the casino magnate said that Adelson is willing to donate more than the $10 million he gave this week to Restore Our Future, a pro-Mitt Romney political action committee. Such PACs generally run negative attacks on a candidate's opponent. The source told Forbes that Adelson believes "no price is too high" to defeat Obama.

Adelson had said previously that he was ready to spend as much as $100 million to help Newt Gingrich, his old friend and the former speaker of the U.S. House of Representatives, win the Republican nomination.

After Gingrich withdrew, Adelson said he would switch allegiances to Romney, the former Massachusetts governor and the presumptive nominee.

Romney and Adelson met late last month. Adelson, a major donor to Jewish and right-wing pro-Israel causes, says Israel is a critical element in how he determines political support.