Enormous enthusiasm was recently shown by the Nevada Gaming Policy Committee regarding the regulation of online casino games during a meeting that was held on Friday, 13th May 2016.
Only online poker is currently allowed by the state and since Ultimate Poker made the decision that the market was not commercially viable, the World Series of Online Poker gained a monopoly position in the state. However, providers may reconsider their decision at the prospect of being allowed to offer casino games in addition to poker.
During Friday’s meeting the Policy Committee was handed evidence that showed that 84 percent of online gambling revenues in New Jersey has been generated by online casino games over the past year.
At the time that Nevada became the first state in the US to offer regulated online poker there were serious concerns that revenues from existing land-based casinos could be stripped due to online casino games.
However, Michael Cohen, Senior Vice President, Corporate Development, General Counsel and Corporate Secretary of Caesars Acquisition Company, informed the committee that his company was already seeing the benefits of having a bricks and mortar as well as an online presence in regulated markets.
The governor and committee appeared to be enthusiastic about allowing online casino games after seeing New Jersey’s massive tax revenues from online casino games as well as the enthusiasm shown by Caesars for the mutual benefits between online and live casinos.