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New Mexico re-thinks its legislation on internet gambling

New Mexico re-thinks its legislation on internet gambling.
Legislators in New Mexico appear to be taking a more progressive approach to online gambling...or are at least hedging their bets, according to a report in the Albuquerque Journal this week.
The report covers state compacts to be addressed by the Legislature that formerly declared New Mexico would not authorise online gambling, but the Journal notes that this potential ban has since been removed from the proposed compact.
"Online gaming is now authorized in three states, the most recent being New Jersey. This tool for revenue raising is being considered in eight other states, and many experts expect it to spread across the country," the Albuquerque Journal observes, speculating that it could also be used as leverage by the state in negotiating compacts with the state's prickly and not always cooperative land casino operators.
Some state politicians are also concerned at a proposal that says New Mexico agrees not to authorise any non-Indian competitive slot machine gaming.
The former draft limited the number of Class II gaming machines but that has been dropped despite the fact that Class II machines are now almost identical to Class III machines (slots and video poker).
The problem is that tribes share their revenues from Class III machines but not from Class II machines, the Journal reports.
Interested parties are concerned that the lawmakers get this one right, because the compact runs until 2037, a lengthy period that some feel should shortened.

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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.

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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.

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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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