Dec 28 2011

Companies position themselves for Nevada online poker license

written by: Steve under News Comments: Comments Off

Of the six entities that have applied for an online poker license in Nevada it seems that South Point Casino has the initial head-start according to a report in Card Player Magazine. The reason South Point Casino feels they have a leg-up on their competitors is because they have already developed their own play-money online poker room, so all of the basics are in place for the switch to real-money online poker as soon as they are granted a license.

According to the article, South Point Casino’s decision to forego a partnership with an existing online poker site (such as the 888 Holdings and Caesar’s Entertainment partnership) will give them an easier path to one of the coveted online poker licenses. Companies not currently regulated by the Nevada Gaming Control Board are likely to fall under more scrutiny than Brick & Mortar casinos with a proven track record that are already licensed and regulated by the Nevada Gaming Control Board.

In addition to South Point Poker and 888 Holdings, several other companies have formally submitted an application to the Nevada Gaming Control Board including, International Game Technology, Bally Technologies and Cantor Gaming.

The stakes are extremely high when it comes to procuring the first Nevada online poker license, since it will not only give a company a leg-up in terms of branding in Nevada, but thanks to the recent ruling by the Department of Justice –which clarified the 1961 Wire Act as only applying to sports-betting—the doors have been opened for inter-state online poker, and not merely intra-state online poker. So, the first company to offer online poker in Nevada is likely to be the first company to offer online poker to the entire US population down the road.

Comments Off - Click Here to Speak Up