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Caesars Entertainment CEO Gary Loveman Supports Online Poker
Sunday August 7,2011 : Good prospects for legalised online poker in the United States, says Loveman
In an interview with Josh Wolfe in the Forbes/Wolfe Emerging Tech Report this week, Caesars Entertainment CEO Gary Loveman again voices his support for legalised online poker, and gives his views on the likelihood of the concept becoming reality.
The views of this former associate professor at the Harvard University Graduate School of Business Administration, who has been at the helm of Harrah's-Caesars for the past 13 years, makes for interesting reading, covering his philosophies on promotion on merit, fact-based decision making and real time interaction with gamblers at his venues.
Loveman is one of the most influential chief executives in the business, and was recognised as the gaming and lodging industry’s best CEO by Institutional Investor magazine for four consecutive years. He is the past chairman of the American Gaming Association and serves as a director of Coach (COH) and FedEx (FDX).
During the interview, Loveman talks about his company's interest in online gambling, saying that it is important to distinguish between online poker, online casino games, and the broader world of online gaming.
"In the younger crowd, online gaming may not refer to gambling at all," he points out. "We are increasingly active in social gaming, where the underlying game is casino-related (such as the Texas Hold’em games on Zynga), but our company focuses on online poker—we own the World Series of Poker.
"When online poker was legal in this country, it was a huge and very profitable business. We are pressing very aggressively for the US Congress to legalize online poker, and I think we have a very good shot."
However, Loveman is not so sanguine about online casino games and online sports betting, which he does not feel are likely to be legal in the United States in the foreseeable future.
Later in the interview, Loveman talks in more general terms about specific games, noting that poker is a great game because it has an element of fortune, but it’s principally a game of skill, combining a behavioural element with an analytic element.
"I think interactive games have a very bright future," he adds. "A few slot manufacturers are creating episodic slot machines with games like World of Warcraft or even Farmville.
"While the game has the same random monetary results of a slot machine, the context of the game advances like an online game. These use high-definition visuals, compelling audio, and multi-player schematics."
Loveman singles out one new game about to launch in the land sector, based on the board game Clue. He reveals that this will be played on large high-definition screens and is destined to be a hit.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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