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MGM Boss Jim Murren speaks out for gambling regulation
Friday August 28,2015 : REGULATION BETTER THAN PROHIBITION, SAYS GAMBLING CHIEF.
MGM Resorts and AGA boss Jim Murren speaks out for regulation.
MGM Resorts chief and American Gaming Association chair Jim Murren continued to make the media columns this week as further quotes from his News3LV interview surfaced.
After suggesting that daily fantasy sports is undoubtedly gambling and should consequently be regulated Murren went on to tackle the Restoration of America's Wire Act, a federal proposal to ban many forms of online gambling and widely believed to be authored, driven and funded by land casino baron Sheldon Adelson.
Murren said that in his view prohibition was not an effective route to handle the issue of US online gambling, observing:
“People are gambling illegally online - Americans - right now. We don’t know how old they are; we don’t if they can afford to do it; we don’t know where they are. We don’t know if they are actually going to get paid if they win something. We don’t know anything. And to think we can just ban this and that the problem goes away is ridiculous, it flies in the face of common sense. So what I think we should do is regulate it, bring it out in the open."
Murren went on to warn that banning online gambling would simply drive it underground, not solve the problem.
"That’s why I am an advocate of legalizing, regulating, taxing and holding companies accountable to outcomes, just as we are in the brick-and-mortar business,” he said. "It’s incredible to me that we have this discussion, it really is. It’s more incredible to my 20-year-old, who is going to be 21 soon, or my 17-year-old that live on their smart devices, that wouldn’t consider doing anything - they wouldn’t book a room, they wouldn’t check out anything - without checking their smart devices. We know where the world is going from a social media perspective, from a social gaming perspective.
"We also know that the experiences we create here in Las Vegas cannot be replicated on an iPhone, or on an iPad, or on a laptop, or on a home computer, and we shouldn’t be intimidated by that."
Murren opined that properly regulated and licensed online gambling is the best way to protect both the consumer and the industry.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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