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Nevada Resorts to Benefit from Online Gambling Bill

Nevada Resorts to Benefit from Online Gambling Bill

The big resort hotels in Nevada look to be best positioned to benefit from the online gambling bill which was signed last month.

Nevada Resorts to Benefit from Online Gambling Bill

Due to restrictions in the law, it is mainly the large resorts hotels that will benefit from online gambling in Nevada.

This is because licenses may only be granted to resort hotel and casino operators. These hotels and casinos can then partner with a tech company in order to use its online gambling technology.

According to law a resort hotel must have 200+ rooms, a 24/7 restaurant, a bar and a casino area. One of the reasons that this restriction was put in place was to ensure that only trusted and experienced brand casinos were able to operate online and therefore a credible standard would be established in the new market.

Obviously the restrictions have met with some opposition, Geoffrey Lawrence from the Nevada Policy Research Institute said “It would have been ridiculous if government restrictions prohibited the entrepreneurs who founded eBay from doing so unless they first constructed physical department stores. The entire premise of the Internet is that this physical space isn’t necessary and that the most innovative entrepreneurs can succeed.”

So far there have been over 20 applications for online gambling licenses and the first online casino is expected to launch in just a few months.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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