Online Gambling News Live Blog; Nevada Would Benefit big from Legal Online Gambling
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March 25, 2011 6:51 pm ET: An economist tells the Associated Press that the state of Nevada would benefit financially from legalized online gambling, specifically Web poker. A number of Las Vegas casinos have called a bill being backed by the world’s largest Internet poker room, PokerStars, premature.
The economist said that Nevada stands to gain millions in tax revenue if it regulates and develops the multibillion-dollar online poker industry.
From The Associated Press:
Economist Jeremy Aguero estimated the state could collect between $2 million and $3.4 million in taxes annually if online poker is legalized in Nevada, and up to $65 million if it captured a quarter of the international market.
The economic possibilities go beyond tax revenue, Aguero said. If the state sets up a structure requiring licensed online poker operators to be headquartered in Nevada, an estimated 1,200 direct jobs and $77 million in direct wages could result.
In another scenario, Nevada could require all online poker operators to make a minimum capital investment in Nevada, Aguero said. That projection shows 3,400 direct new jobs, $200 million in direct wages and about $1.3 billion in total economic activity.
March 25, 2011 6:40 pm ET: Poker Players Alliance suddenly does an about face and backs the Nevada State online gambling bill. The reason: Probably because PokerStars, which is lobbying for the bill (AB258) is one of the PPA’s biggest (paying) members and – well – they probably don’t have much of a choice.
Up until Thursday, the PPA pledged only to support federal legislation that was introduced two weeks ago.
A lawyer representing the Poker Players Alliance said the Department of Justice has issued a press release condemning online poker, but is ambiguous in the law and would likely not prosecute Nevada for developing the gambling rules.
