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MGM Cautious On Nevada Online Poker
Thursday May 2,2013 : MGM TAKING A CAUTIOUS LINE ON INTERNET POKER IN NEVADA
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 .
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.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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