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US States Combine For Legal Online Poker

Thursday November 1,  2012 :  U.S. STATES TALK ABOUT COMBINING IN A LEGAL ONLINE POKER MARKET
 
MGM exec says some US states are discussing alliances with each other to create a more viable internet gambling environment
 
MGM chief executive Jim Murren discussed the evolving probability of legalised online gambling in the United States in an interview with the Reuters news agency Wednesday, asserting that some American states are talking with each other to forge alliances to create a viable interactive gambling market.
 
Murren was also optimistic that his company's application for a Nevada online poker licence would be successful, enabling MGM to compete in a market that could be worth around $10 billion a year just five years from now.
 
Reuters says that Nevada, Delaware and New Jersey are among the leading states that have moved or are moving toward interactive gaming, although the United States as a whole lags behind other nations, with the American Gaming Association advising that 85 countries have legalised online gambling.
 
Around $35 billion is being bet worldwide online each year, including by millions of people in the United States despite its anti-online gambling political stance.
 
"We are encouraged to know that states are talking to one another. They are crafting their own legislation and legal frameworks but are talking with other states in anticipation of compacting with multiple states," Murren told the news agency.
 
"We feel strongly that if it is in fact state by state, the states themselves need to compact with one another to create a more viable business model. Any one state going on its own presents an economic challenge, particularly in a small state like Nevada."
 
An interstate compact is an agreement between two or more states for the purpose of improving some shared resource, and generally requires the consent of Congress.
 
Murren said officials from New Jersey and Nevada are among those who have had discussions, whilst MGM spokesman Alan Feldman said at least a dozen states are talking to each other on the issue.
 
The MGM exec pointed out that technology and financial safeguards against under-aged and problem gamblers, along with measures to verify the location of online gamblers could easily be implemented for broader markets if states reached compacts.
 
MGM itself has signed a partnership agreement with established and competent online gambling firm Bwin.party Digital Entertainment to further its plans should online poker be legalised.
 
Reuters notes that whilst Murren and other land casino leaders prefer a federal legalisation solution, the chances of such an initiative passing in the current Congress are decreasing by the day, and the Reid-Kyl bill is running short on time for this session.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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