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History was made Thursday as the Nevada Gaming Commission unanimously (four ‘yes’ votes and one abstention) approved the relationship between casino giant Caesars Entertainment and UK-based 888 Holdings. This is the first such approval granted to a Nevada gaming license holder seeking to do business with a foreign firm involved in online gambling. The approval upholds the decision made by the Nevada Gaming Control Board two weeks ago.
In justifying the Commission’s decision, Chairman Peter Bernhard said he was satisfied that the relationship wouldn’t violate state policies or regulations. The decision changes little in terms of enabling Nevada residents to gamble online with government blessing, but by identifying a foreign online gaming firm – especially one that has never made a PartyGaming-style immunity deal with the US Dept. of Justice – as a suitable partner for a US-based gaming licensee, Nevada’s gaming regulators might have just got America a little bit pregnant. No, thank you, ma’am.
While Nevada’s regulators were deciding 888’s fate, Nevada politicians in Carson City were discussing AB 258, the PokerStars-sponsored online poker legislation recently introduced by Assemblyman William Horne. The Assembly Judiciary Committee endured three hours of arguments on Thursday, both pro and con. Testifying on behalf of PokerStars, economist Jeremy Aguero claimed the bill’s passage would create 1,180 jobs for Nevada residents, who would stand to earn $7.7m in wages. Aguero also claimed that the state would collect taxes ranging from $2-3.4m annually, and up to $37-65m per year if Nevada’s system drew liquidity from beyond state borders.
READ MORE AT CALVINAYRE.COM
In justifying the Commission’s decision, Chairman Peter Bernhard said he was satisfied that the relationship wouldn’t violate state policies or regulations. The decision changes little in terms of enabling Nevada residents to gamble online with government blessing, but by identifying a foreign online gaming firm – especially one that has never made a PartyGaming-style immunity deal with the US Dept. of Justice – as a suitable partner for a US-based gaming licensee, Nevada’s gaming regulators might have just got America a little bit pregnant. No, thank you, ma’am.
While Nevada’s regulators were deciding 888’s fate, Nevada politicians in Carson City were discussing AB 258, the PokerStars-sponsored online poker legislation recently introduced by Assemblyman William Horne. The Assembly Judiciary Committee endured three hours of arguments on Thursday, both pro and con. Testifying on behalf of PokerStars, economist Jeremy Aguero claimed the bill’s passage would create 1,180 jobs for Nevada residents, who would stand to earn $7.7m in wages. Aguero also claimed that the state would collect taxes ranging from $2-3.4m annually, and up to $37-65m per year if Nevada’s system drew liquidity from beyond state borders.
READ MORE AT CALVINAYRE.COM
