Latest Gaming Control Commission proposals are awaiting Commission's vote
The Nevada Gaming Control Commission have made their consultation and drafting targets on time and therefore presented the final version of proposed regulations for the legislation of intrastate poker to the Nevada Gaming Commission. The approval will create an environment for interested parties to apply for licensing.
An extensive article in Associated Press discussed the advent of internet poker in the US premier gambling state, noting that the new rules were designed to put it in a position to move quickly to become the center of a lucrative new revenue stream if/when Congress pass one of several proposed measures for online poker or internet gambling legislation.
"In the meantime, Nevada's new regulations could allow the state's casino companies to operate gambling websites limited to players within Nevada's borders," said Mark Lipparelli, chairman of the Nevada Gaming Control Board.
He also said that websites limited to Nevada's borders could be up and running before the end of next year provided the gaming commission gives its approval.
As Nevada is trying to become the first state in the US to practically regulate internet poker, it is seizing the initiative from other states - California, Iowa, Washington DC - considering similar moves.
Land and online gambling companies are already making maneuvers for positioning themselves in the new market, forming partnerships and actively lobbying. To mention a few: MGM Resorts International, recent partnership with Bwin.Party Digital Entertainment plc (a major European online gambling company), Caesars Entertainment and Gibraltar's 888 Holdings, or Station Casinos owners the Fertitta family which recently acquired online poker software developer Cyberarts.
On the other hand, not all land-based companies prefer intrastate legislation: both Caesars Entertainment and MGM prefer federal legalization, concerned that intrastate-focused initiatives may not deliver sufficient player liquidity for a thriving business, and that some states may be tempted to pass "sub par" regulatory regimes.
As MGM spokesman Alan Feldman said: "There's an imperative for the federal government to act."
According to U.S. Digital Gaming, a software and turnkey industry provider, a network of online poker sites would need at least 70,000 active users to be viable and would be able to get to that size within 18 months, producing about $180 million in revenue.
"Gaming Control Board Chairman Mark Lipparelli and others argue that under the new regulations, online poker is likely to be legal within Nevada borders as long as operators prove they limit the bets geographically. Bolstering that position, he said, is the fact that the state has already allowed several companies to offer web or mobile sites inside the state for sports betting without opposition from the federal government," the same article observes.
Michael Gaughan of the South Point land casino, one of the local companies which is now creating new internet poker strategies, revealed he has hired experts to give him an effective online presence, and said that he wanted to ensure not to be left behind in a new regulatory scenario full of promises for the fresh revenue opportunities.
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