Nevada Casinos Oppose Gambling Online
Those who are in favour of internet gambling have championed its cause to legalize it again, since the inception of the UIGEA in 2006. Initially brick-and-mortar casinos in Nevada were strongly opposed to it.
The last year and a half has seen no action and Nevada’s senator was not committed to the cause. On the contrary Caesars Entertainment has come out in full support for internet gambling the last year or so. The last month many Nevada land-based casinos are in support of legalizing internet poker again. To add on to this Atlantic City casinos have made considerable headway pertaining to legalizing internet gambling in New Jersey.
However, according to the latest reports there might be a division within Nevada’s land casino lobby stable. Those who support online gambling are esteemed land casinos. The lesser land-based casinos in Reno have voiced their concerns over the possible implementation of internet gambling stating that they might incur huge financial losses, they fear that larger land-based casinos will monetize internet gambling and reap the benefits of it. In essence many players who currently wager at land-based casinos in Nevada might be drawn to its internet format.
Smaller land-based casino representatives that are not in favour of internet gambling are Ryan Sheltra, general manager of the Bonanza Casino in Reno and co-chairman John Farahi, co-chairman who is also the CEO of the Monarch Casino Resort Inc. Sheltra said that regulation and permitting of internet gambling would have dire financial ramifications on the majority brick-and-mortar casinos within the state. He stated casinos in Washoe Country have experienced a financial “drought” profits dropped significantly the last 39 months. Farahi also stipulated that overall gambling profits have dropped by as much as 29% in the Reno-Lake Tahoe region since 2000 from approximately $1 billion to $700 million.
The smaller land-based casinos definitely have reason to be concerned; since they lack the financial means to effectively contend in opposition to larger land-based casinos. Caesars Entertainment already has an online casino and poker site operating in the UK. Having no registered players in the U.S as yet the company has launched a series of very aggressive advertising campaigns in the U.S, spending vast amounts of cash campaigning for the legalization of internet gambling. Assuming internet gambling receives the green light in the U.S again it is without a doubt that Caesars Entertainment will reap the most income from it.[addtoany]