No, Gingrich isn't dropping out

Newt Gingrich has a press conference lined up for later tonight after the Nevada caucuses have probably wrapped up.  Speculation is circling that maybe he's dropping out.  I don't think so.

Instead of the traditional election night party, former House Speaker Newt Gingrich will hold a press conference after the Nevada Caucus on Saturday, raising new speculation about his future in the race.

An e-mail sent to reporters on Saturday morning set the Las Vegas press conference for 11 p.m. to midnight Eastern time. It will be held at the Venetian, a hotel run by Sheldon Adelson, who has donated millions of dollars to the pro-Gingrich super PAC Winning Our Future.

Aldeson is the billionaire who has been bankrolling the Super PAC backing Gingrich.  That would seem an odd place to admit defeat.  It would also see an odd time to admit defeat.  Yes Romney is likely to win Nevada handily.  But the delegates will be proportionally assigned.  Gingrich has also said that he plans to be in it for the long haul.

What's more likely is that he's going to announce his new Contract With America to compete with the Romney win in the news cycle tomorrow.  That's my speculation on the announcement, for what it's worth.  The entire race in Nevada probably gets lost in the Superbowl hype for tomorrow anyway - that is unless Romney or Obama ends up singing the National Anthem at the game.