Categorized | Casino Gambling News

Nevada to Possibly Regulate Online Casino Games

The Nevada Gaming Policy Committee recently showed great enthusiasm with regard to the regulation of online casino games during a meeting on Friday, 13th May 2016.

The state currently only allows online poker and ever since Ultimate Poker decided that the market was not commercially viable, the World Series of Online Poker almost has a monopoly position in the state. It is felt that providers could possibly reconsider their view at the prospect of being able to offer casino games in addition to poker.

Evidence was brought before the Policy Committee during Friday’s meeting that 84 percent of online gambling revenues in New Jersey over the past year have been generated by casino games.

Nevada became the first state in the United States to offer regulated online poker and at the time there was great apprehension that existing land-based casino revenues could be stripped due to online casino games.

However, the committee was informed by Michael Cohen, Senior Vice President, Corporate Development, General Counsel and Corporate Secretary of Caesars Acquisition Company, that his company was already reaping the benefits of having an online as well as a bricks and mortar presence in regulated markets.

The sight of New Jersey’s substantial tax revenues from online casino games and the enthusiasm that Caesars showed for the mutual benefits between online and live casino, provided a good reason for the governor and committee to be enthusiastic about allowing online casino games.

It is anticipated that any proposals to add online casino games to the Nevada regulatory slate will, however, meet with active opposition from Las Vegas Sands owner Sheldon Adelson.

 

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