Las Vegas Global Gaming Expo
The last 10 years online gambling has been an ever present thorn-in-the-side of land-based casinos. Since it has the ability to snatch millions of dollars from its land-based counterparts.
This is one of the issues that will top the list at the next annual Global Gaming Expo to be held at the Las Vegas Convention centre from the 16 to the 18 November. Introducing the inaugural iGaming Congress, it’s tailor-made for professionals within the industry in the hope of finding solutions to current problems especially within the internet gambling segment.
The aim of the new partnerships involves the Innovation Group, BolaVerde Media Group, Lewis and Roca and iGaming Business Magazine. They will function as a networking unit designed to endow land-based casinos with information concerning the global Internet gambling business.
In 2008, American punters spent approximately $5.9 billion at offshore gaming vendors reported The American Gaming Association. This amount is seen as encouraging and the world’s biggest casino vendors are ready to exploit this lucrative market.
In 2008 Strip casinos has yielded $15.6 billion in gambling revenues in comparison this was made public in a statement by the Nevada’s Gaming Control Board. This figure has declined significantly to almost $2 billion the previous year to $13.7 billion.
“Experts within the internet gambling fraternity estimate that it will increase by 50% within the next five years. Therefore, it’s important to gain proper insight and understanding on how this sector will mould the future of our industry,” Frank Fahrenkopf Jr., president and CEO of the Washington-based American Gaming Association said. “For the last decade the expo has been a platform to discuss and dissect the latest intricate global trends that could potentially impact the casino industry of late the establishment of the new iGaming Congress … will ensure that the legacy continues. This is particularly important in the event internet casino gambling is decriminalized in the United States again.”
Internet gambling at present is a bone of contention to lawmakers in the US. The Senate Majority Leader Harry Reid (D-Nev.) has disappointed those in favour of internet gambling when he aired his concerns about legalizing and taxing Internet gaming; he said he’s concerned about the danger it might present to Nevada casinos. Those who are against gambling have argued that it is a potential grey area and can lead to an increase in problem gamblers, because it offers addicts virtual secrecy.
The two largest gaming companies in the world; Harrah’s Entertainment and MGM Resorts International are seriously campaigning for the legalization of online gambling again. Assuming it is regulated in the U.S., Harrah’s mentioned that it will seek to parlay the popularity of its World Series of Poker brand.
The 2010 World Series of Poker tournament entrants has set a new record of 63,706 entrants signifying more than 115 countries and prize money valued at more than $100 million. In an interview with the Las Vegas Review Journal, CEO Gary Loveman said it is chiefly focused on the legalization of internet poker and not on internet gambling.
Harrah’s supports the legislation as propagated by Rep. Barney Frank (D-Mass.) to permit operators to impose federal protocols that will enable Americans to wagers online Technically speaking this will open the door for internet poker. MGM Resorts is in favour of Internet poker regulation in the United states.
The sole aim of the iGaming Congress is to assist gaming executives to fully comprehend the possible impact of Internet gambling regulation. It aims to equip them with the necessary information concerning players, resources and legislative framework.[addtoany]