Online Casino Industry Wary of Land-Based Casinos
According to several industry analysts, if the online casino industry has anything to worry about, it isn’t legislation – it should be regulation. The interest many land-based casinos have expressed in joining the lucrative online casino industry has concerned analysts due to the increased competition traditional gambling operators would bring to the market. When it comes to budget, branding, credibility and loyalty, online casino firms have a long way to go if they want to be on a level playing field with land-based casinos and gambling giants like Mirage and Harrahs.
While operators of land-based casinos were once prominent spokespeople for the entire gambling industry in opposition to online casino gambling, several have been forced to change their tune following the United Kingdom’s decision to regulate online casino gaming in 2007. Instead of lobbying for legislation against online casino firms, many land-based firms are now opting to show full support for imminent legislation with the aim of guiding law-makers towards regulating the future of internet gaming.
In the U.S., the new change of attitude has become most apparent following the American Gaming Association’s (AGA) request for a Congress committee to study online casino gambling before proceeding with an outright ban. Lobbyists for land-based casino operators like MGM Mirage and Harrah’s Entertainment Inc. have been quoted as saying that in their view, the best way to control the $12 billion dollar online casino industry is to fully regulate and tax it.