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Online Poker Will Not Hurt Land Casino Business
Wednesday May 8,2013 : ONLINE POKER WILL NOT CANNIBALISE LAND CASINO BUSINESS
Outgoing AGA chief says the Association has studied the consequences of online poker legalisation
Ultimate Poker's launch of the first legal online poker website in Nevada last week came as the American Gaming Association published its State of the States annual report on land gambling, which carries within it the news that the Association has been quietly studying the implications of legalised online poker for some time.
The outgoing chief of the AGA, Frank Fahrenkopf, writes in the report that next year's annual assessment will include online poker for the first time.
How much that will add to Nevada's 2013 revenue total is uncertain, Fahrenkopf notes, but what is generated likely will not take from other gaming revenue streams.
"We did studies on Internet poker and if it were legal in Nevada, would it cannibalize land-based casinos," Fahrenkopf advises. "We concluded that looking at the demographic, young men with higher income, most of whom don't go to casinos, it could be viewed as a new profit center."
Fahrenkopf points to the widely known fact that to be a serious money-maker online poker has to have lots of players, a concern for states with a smaller population like Nevada.
That implies the need for agreements on shared player pools between legalising states, he observes, commenting that such arrangements would need the approval of a Congress that has not moved on legalisation despite several attempts by both political parties.
That raises the always sensitive issue of states' rights, and InfoPowa readers will recall that the Nevada Legislature recently passed a law that permits the governor to negotiate inter-state compacts on online poker, something that could result in an interesting reaction from the federal government if it is applied.
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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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