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Private Equity Groups, Syndicates Won’t Be Permitted in Nevada

Written by:
Gilbert Horowitz
Published on:
May/21/2013
Private Equity Groups, Syndicates Won’t Be Permitted in Nevada

Nevada state Senate bill 346 that would have permitted large groups to place sports bets within the state has failed to pass the Assembly Judiciary Committee on Friday.

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Another bill that would have allowed bets on the outcome of federal elections also joined the scrap heap, the AP reported.

In some circles, the bill was highly popular but SB346, which was sponsored by Republican Sen. Greg Brower of Reno, worried state regulators.

New Jersey had also intended to cite any passage of such legislation in its court battle to legalize sports wagering in the Garden State.

- Gilbert Horowitz, Gambling911.com

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