..

Small Vegas Casinos Balk At Reid Plan To Allow Online Poker

Written by:
Aaron Goldstein
Published on:
Dec/08/2010
Small Vegas Casinos Online Poker

While the big name casino properties in Vegas have mostly been supportive of Senate Majority Leader Harry Reid’s efforts to pass a measure legalizing online poker in the United States, the smaller casinos believe they are being left out of the equation.   Such plans can ultimately hurt their businesses, these smaller properties contend.

Reid’s plan calls for licensing only to casinos with 500 or more rooms.

Ryan Sheltra, general manager of the Bonanza Casino in Reno, said legalizing poker will "open Pandora's box" to other online gambling and "to think otherwise is ridiculous."

Speaking to the Associated Press, Sheltra said:  "It's like a Gold Rush for the stockholders of the international corporate casinos based on the Las Vegas Strip, but the other 16 counties in Nevada will not get to cash in on any of it.”

Jonathan Halkyard, senior vice president and chief financial officer for Caesars Entertainment Corp, does not buy into the argument that already established online poker businesses will steal away market share from existing Vegas brick and mortar casinos, both big and small.

He made the valid point that Internet poker was legal in the United States from 2003 to 2006 "and our Nevada location-based poker business was growing by leaps and bounds also."

And while it is technically considered an “illegal” activity, online poker continues to take in over a billion dollars per year from US residents while boosting tourism in Las Vegas during the World Series of Poker.  Most of those who participate in that even hone their skills via the Web while many poker sites send online qualifiers to the mega tournament.  Close to 9000 participated in the main event this year.

- Aaron Goldstein, Gambling911.com 

Gambling News

Odds Released on Meghan Markle Attending Prince Philip's Funeral

Odds Released on Meghan Markle Attending Prince Philip's Funeral

It's a sad day for the world as it was revealed Friday that Prince Edward, husband of Queen Elizabeth II, had passed away.  He was 99 and lived an otherwise amazing life.

New York's Path to Mobile Sports Betting Questionable

New York is expected to allow for two mobile sports betting master licensees with a minimum of four skins, a model many view as least competitive.

Florida Gambling Bills Don't Include Sports Betting

Florida Gambling Bills Don't Include Sports Betting

One of three bills introduced would allow for gambling at former US President Donald Trump's golf resort in Doral just outside Miami

Maryland Sports Betting Would Have No Cap

Maryland Sports Betting Would Have No Cap

Maryland is on its way to becoming the first state with an unlimited (uncapped) number of online sports betting operators, both online and retail.  This means, in theory at least, that the Old Line State could host just about any current legal operator. Wyoming and Tennessee allow unlimited sports betting licensees online.

New York Approves Online Sports Betting: But What Model?

New York Governor Andrew Cuomo has given his blessing to legalized online sports betting in the state as part of the 2022 fiscal year budget.

Syndicate