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Jim Murren Talks about MGM Internet Gambling

Saturday November 2, 2013 : LAND GAMBLING CHIEF ON INTERNET GAMBLING
 
Murren talks about MGM plans in social and internet gambling
 
MGM Resorts International chairman and CEO Jim Murren had some interesting comments on social and internet gambling during his media conference on the release of his company's Q3-2013 results this week.
 
Murren said that on the social gaming scene MGM had a partnership with former Wynn Resorts executive Andrew Pascal, for whom he had a high regard. The partnership has formed MyVegas, a Facebook site that had produced good results in terms of usage and players redeeming their virtual prizes for real bricks and mortar rewards.
 
A mobile app was in the final stages of preparation and would be launched soon, Murren revealed.
 
Turning to intrastate online poker in Nevada, Murren reiterated his company's view that such a business confined to Nevada alone was likely not a profitable prospect due to the lack of player liquidity, and for that reason MGM has held off launching a site.
 
In addition, MGM had always favoured a federal rather state-by-state solution in online poker, Murren said, admitting that his optimism for federal legalisation has substantially faded as Congress has failed to deliver.
 
"It looks to us that that’s all but a lost opportunity," he said.
 
Murren sounded more positive on the upcoming launch of New Jersey's wider online gambling market, saying:
 
"New Jersey is leading the charge for full-on games. That leads us to conclude that the best solution for our state is for Nevada to exert its rightful leadership as a regulatory jurisdiction; that it needs to have a full complement of games and be able to compact with other states to increase liquidity pools and increase overall visitation to all of the sites. I think that will happen."
 
MGM is well prepared for an entry into the New Jersey market through partnerships with Boyd Gaming and the experienced European online betting group Bwin.Party Digital Entertainment, and Murren said that the partners intend to be active in the state-by-state regulatory process.
 
In related news, the Press of Atlantic City reported Friday that more than four dozen companies have received New Jersey state approval to begin working with casino licensees and Internet gambling permit holders.
 
The New Jersey Division of Gaming Enforcement released a list Friday that featured 54 companies who will be allowed to enter into agreements to provide ancillary services or act as vendors for Internet gambling.
 
New Jersey is preparing for a November 26 launch of intrastate online gambling, following a five-day trial period.
 
To date, five casinos have received New Jersey Internet gambling permits.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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