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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.
NBA Odds: Warriors Big Favorites to Beat Cleveland -
The Warriors didn’t take last year’s NBA Finals collapse lying down. They added Kevin Durant to the starting rotation; Durant is +220 to win this year’s Finals MVP award, while Cleveland superstar LeBron James is all by himself – also at +220. Kyrie Irving is the next closest Cavalier at +1000.
$400k Winner at Bodog Casino -
To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
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