Land-Based Casinos Mixed on Internet Sports Betting
November 13, 2009 (CAP Newswire) – Once almost universally opposed to the idea of legalized and regulated online sports betting in the U.S., land-based casinos in the United States are increasingly warming up to the idea.
In a recent article in the Las Vegas Sun, Richard N. Velotta talks about how many Las Vegas casinos are mixed on the idea of legalizing Internet gambling: "Harrah’s Entertainment, owner of the World Series of Poker, supports the Menendez legislation, while Steve Wynn of Wynn Resorts opposes the legalization of online gaming. MGM Mirage, meanwhile, supports online gaming, but wants states to regulate it instead of the federal government."
This isn’t just casual support, either; the casino industry has deep pockets, so those against the idea of Internet betting can spend a lot lobbying to keep it unregulated and essentially illegal in the United States. (As we all know, lobbying in the U.S. political system does tend to pay off.)
On the other hand, those land-based casinos that support Internet gambling can also spend a lot in efforts to get the practice legalized. (Or, like Harrah’s, start widescale investments so as to be ready when the online gambling marketing in the U.S. opens up, which is almost certain to happen eventually.)