Moves in Nevada to pass online gaming threaten to shut Atlantic City out of the Internet market.
Wynn
Much has been happening in the fight to legalize online gaming in the U.S. since Gov. Chris Christie vetoed New Jersey’s attempt to be the first state to regulate Internet betting.
Mostly, the activity has centered around other states — California, Florida, Hawaii, etc. — trying to enact the same type of legislation, though few of the proposals have been gaining traction.
But now, the move for a federal law to allow online gaming has gotten a valuable ally in casino mogul Steve Wynn.
The Wall Street Journal reports that Wynn’s Nevada-based company, Wynn Resorts Ltd., has formed a partnership with the Isle of Man-based, and super popular PokerStars online poker site.
Basically, the companies will push for a change in the federal legislation and then form a new site PokerStarsWynn.com, if such legislation passes.
It’s not clear if the companies will do business before such a change in legislation, according to the Journal.
Wynn said is a statement, "After much study, we are convinced that the lack of regulation of Internet gaming within the U.S. must change. We must recognize that this activity is occurring and that law enforcement does not have the tools to stop it."
Meanwhile, Caesars Entertainment, which owns four Atlantic City Casinos, was approved Thursday, March 24, by Nevada gaming regulators to enter into a marketing agreement with 888 Holdings PLC, an Israeli company that offers online poker, sports betting and casino games in Italy, France and the United Kingdom. The contract allows the company to extend its World Series of Poker brand abroad, according to reports.
It’s believed to be the first time a U.S. casino company has been approved to do business with a foreign company offering online gaming.
Nevada legislators are also considering a bill to allow the Nevada gaming commission to adopt rules for governing online gambling, a move that could also lead to Nevada passing legislation to allow online gambling only in the state.
Caesars has opposed state efforts to circumvent the federal ban on Internet gaming, including New Jersey’s and a Nevada-only law, instead pushing for a change in the federal law.
Still, this seems to be another indication that Las Vegas and Nevada, not Atlantic City, will benefit the most if online gambling is ever legalized in the United States.
The new bill, however, restricts online gaming to residences, which would be seen as making a bet in Atlantic City where the computer servers would be located.
Gov. Chris Christie says the bill could have expanded gambling in the state outside of Atlantic City and opposed a provision for a subsidy to the horse-racing industry
A bill to allow New Jersey to become the first state to allow Internet gaming was approved by a State Senate committee this week.
Democratic state legislators today held a second gaming conference to explore ways to save both the state's racing industry and Atlantic City's casino industry.
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1. Kickyourace said... on Mar 26, 2011 at 09:15AM
“Another example of the casino industry controlling Trenton. There is so much money sitting there waiting to be taxed. The gaming is going on regardless. It has become the only game in town. Now it's just a matter of who benefits from it. Nevada or New Jersey. Christie needs to sht or get off the pot on this one and signing off would be the best idea.”