Online Casino Transfer: News - Reid Issue

08/27/2010		Online Casino Style: News Reid Issue - 2
Home History Games News Dictionary		continued from Reid Issue - 1 The fact that most of the representatives out of Nevada support HR 2267 is significant in and of itself, as they represent the constituents and associated businesses of their region, including Las Vegas. Most land-based casinos have adamantly opposed online gambling as it would create additional competition to their betting services. Surprisingly, the American Gaming Association has recently adopted a more neutral position on the topic. Now, though casinos still have the concerns of losing business to internet casinos, they are considering the possibility that allowing for HR 2267 would create for them the opportunity to launch their own internet-based casinos, linked to the land-based resorts. Currently, they are unable to do so, even on an intrastate basis, as the UIGEA bans all transactions with online gambling companies, in state, local or otherwise. Also, HR 2267 is written to favor domestic companies, and outlines for the exclusion of online gambling companies who illegally continue to cater to American gamblers. The UIGEA is still intact, and the government is not going to reward those online casinos that ignore it by awarding them licenses to operate when legalization happens. These exclusionary clauses will help level the playing field for land-based casinos looking to launch internet ventures, while keeping a tight market, well regulated for players’ safety. One of the companies looking to be well positioned to take advantage of legalization, from both a land- and online based perspective would be that of Harrah’s Entertainment. They rule the Strip in Las Vegas, are the brand name behind the World Series of Poker, and last year, launched an online division that has solely operated in Europe. For the record, Harrah’s supports HR 2267. And all of it may rely on one vote, one opinion: that of Congressman Reid. Berkley said that although he was one to vote for the institution of the UIGEA four years ago, that’s not necessarily an indicator that he won’t go for legalization in 2010. "I think his position has softened dramatically, but he's going to need to be convinced," she said. "I don't want to put words in his mouth, but I know he's been moving to a positive position.”

08/27/2010

Online Casino Style: News
Reid Issue - 2

continued from Reid Issue - 1

The fact that most of the representatives out of Nevada support HR 2267 is significant in and of itself, as they represent the constituents and associated businesses of their region, including Las Vegas. Most land-based casinos have adamantly opposed online gambling as it would create additional competition to their betting services. Surprisingly, the American Gaming Association has recently adopted a more neutral position on the topic. Now, though casinos still have the concerns of losing business to internet casinos, they are considering the possibility that allowing for HR 2267 would create for them the opportunity to launch their own internet-based casinos, linked to the land-based resorts. Currently, they are unable to do so, even on an intrastate basis, as the UIGEA bans all transactions with online gambling companies, in state, local or otherwise.

Also, HR 2267 is written to favor domestic companies, and outlines for the exclusion of online gambling companies who illegally continue to cater to American gamblers. The UIGEA is still intact, and the government is not going to reward those online casinos that ignore it by awarding them licenses to operate when legalization happens. These exclusionary clauses will help level the playing field for land-based casinos looking to launch internet ventures, while keeping a tight market, well regulated for players’ safety.

One of the companies looking to be well positioned to take advantage of legalization, from both a land- and online based perspective would be that of Harrah’s Entertainment. They rule the Strip in Las Vegas, are the brand name behind the World Series of Poker, and last year, launched an online division that has solely operated in Europe. For the record, Harrah’s supports HR 2267.

And all of it may rely on one vote, one opinion: that of Congressman Reid. Berkley said that although he was one to vote for the institution of the UIGEA four years ago, that’s not necessarily an indicator that he won’t go for legalization in 2010. "I think his position has softened dramatically, but he's going to need to be convinced," she said. "I don't want to put words in his mouth, but I know he's been moving to a positive position.”