Some Casinos in Nevada Oppose to Online Gambling
Ever since 2006 when the UIGEA was enacted, several proponents of online gambling have been working non-stop in favor of the legalization and regulation of online casinos that offer games ranging from poker to free slots with bonus games. When these efforts started in the state of Nevada, the land casinos in the area were strongly against the legalization of online gambling. However, over most of 2010 they have been simply waiting to see what happens with this issue, with their association and the Senator from Nevada being non-committal. Nevertheless, the largest land-based casino group in Nevada, Caesars Entertainment, has been the only one to support the online gambling issue all through this period.
It doesn’t come as surprise for many since those who are in favor online gambling and maintain a tactical silence are the very large land casino groups who can ultimately benefit from this move. In contrast, the smaller land casinos located in Reno and other rural parts of Nevada have begun to speak out about their concerns and the huge financial losses they will have to face if online casinos become legal. Their fear is based on the fact that the larger corporately owned Las Vegas casinos will secure the limited licenses for online gambling operations and cash in only. With the legalization of online casinos customers would immediately move away from land based venues. Those casinos who already have the online gambling licenses will profit in huge ways and make up for this loss, however those casinos who do own licenses will be pushed further in the red.
Two of the representatives of smaller casinos in Nevada have said that legalization of online gambling would hurt every brick-and-mortar casino in the state. Some of the casinos in the area have suffered deeply with revenues having declined in 37 of the past 39 months. Recent numbers revealed that gambling revenue has declined by 29% in the Reno-Lake Tahoe area since 2000 from about $1 billion to about $700 million.
November 12th, 2009
Slots Gambling for US Casino Players
Gambling News – Nov. 12th, Colorado by Jean Real
The Bush administration motioned a law in 2006 called UIGEA (Unlawful Internet Gambling Enforcement Act) to make illegal certain types of online gambling for US citizens. This law is less than 3 weeks away from coming into full effect and all financial institutions that accept transactions for [...]