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MGM Cautious On Nevada Online Poker

State may be too small to provide a lucrative online market on a standalone basis.
Whilst Ultimate Gaming has jumped right in to online poker operational activity in Nevada this week , land gambling giant MGM Resorts International is taking a more cautious line.
On Thursday the group's chief financial officer, Dan D'Arrigo, told the Reuters news agency that his company was still undecided on whether to launch an internet poker site in Nevada amid concerns that the state may be too small to provide a lucrative online market on a standalone basis.
"We have to make an assessment on the cost to operate that space. We haven't ruled it out, but we haven't given it a green light either," said D'Arrigo. "We're not going to be the first or a pioneer from the state's perspective."
Along with other land gambling industry majors, MGM has achieved online gambling licensed status in both Nevada and New Jersey, despite holding the conviction that either federal legalisation or interstate compacts are necessary to create the sort of player liquidity that will generate large enough revenues.
Reuters reports that some analysts project Nevada's online gambling market will yield only $50 million to $250 million in annual revenues. The larger and more populated New Jersey is pegged to generate $500 million to $1 billion yearly.
"Our preference is for something to be done at the federal level," said D'Arrigo. "We're focused on these state by state initiatives, but it makes (operating) more challenging and more complicated. The opportunities are different in each state," he said. "Hopefully states will compact with one another and that will create liquidity and critical mass."
MGM and Boyd Gaming have partnered with internet poker firms like Bwin.Party to provide software and other services to their online gaming efforts across the U.S., including in both New Jersey and Nevada .

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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.”

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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.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

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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