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INTERNET GAMBLING COULD BENEFIT, NOT PAIN, LAND CASINOS
Thursday, May 10,2012 : INTERNET GAMBLING COULD BENEFIT, NOT PAIN, LAND CASINOS
Top land gambling exec Frank Fahrenkopf see online gambling as a feeder for land casinos
Frank Fahrenkopf, the chief executive of the US land gambling trade body the American Gaming Association, has spoken out in favour of internet gambling, reassuring interested parties that it is more likely to benefit land casinos than hurt them.
Speaking to reporters after presenting the AGA's annual “State of the States: The AGA Survey of Casino Entertainment” report Wednesday, Fahrenkopf referenced the current drive for federal legalisation of online poker, saying that the approval of Internet gambling would expand existing operations, and explaining that a younger player demographic would graduate from online gambling to land gambling establishments over time.
Fahrenkopf said that his Association had spent a "significant" amount of time and resources on researching the impact of the internet on land venues, and that it had concluded that there would be little significant change.
On the wider land industry picture, the trade association chief said that the gambling business appears to be emerging from a long and painful recession, growing healthier nationwide with gross gaming and tax revenues up at the 492 commercial casinos and 517 card rooms in the United States.
The AGA report shows that gross gaming revenue in 2011 was up 3 percent over 2010 to $35.6 billion. In the previous year, revenue increased by less than 1 percent. In 2007 and 2008, revenue declined as a result of the economic depression.
Tax revenue climbed 4.5 percent to $7.93 billion in 2011, and the industry directly employed 339,000 people who earned $12.9 billion in wages, tips and benefits. But the total number of jobs in 2011 was down 0.4 percent from the previous year.
When it comes to land casinos and gambling, operations on the Las Vegas Strip were tops, generating $6.07 billion in gross gaming revenue.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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