Online Casino Edition – Casino News News about online casinos and gambling

April 2, 2013

888 Holdings Teams With Treasure Island for Online Gambling

Filed under: Casino — Tags: — OCE News @ 2:38 am

888 Holdings is a company that has clearly expressed their interest in breaking into the online gaming industry. Up until this point, most I’d assume that Treasure Island and their parent companies would also be looking to get in on the large amount of revenue that online gaming is expected to bring in. A number of companies had already been approved by the state gaming control board, and it appears that the state is willing to bring in more companies into the fold. The interactive gaming landscape drastically changed after Gov. Brian Sandoval signed legislation. Now, individual companies can be licensed by the state to run operations involving poker gambling online, so long as they adhere to the regulations that are put into place.

Now, it looks like to new companies want to get into the fold. Those companies being 888 Holdings and Treasure Island. The two companies have decided to join together in an effort to offer online poker using the technology and experience that both companies currently have in the European market, where online gambling, and poker specifically, are still currently allowed. Among the announcement, was also that 888 Holdings would be building a World Series of poker website for Caesar’s Palace as well.

The company had previously operated in the American market, but ceased once a number of companies were shut down. Stop taking any money online from individuals in America, once the Unlawful Internet Gambling Enforcement Act was first passed in 2006. In total of 19 companies have Artie been approved for the interstate gaming, and do not have to reappear in front of the board in order to be eligible. Both 888 Holdings and Treasure Island still have to appear in front of the board before they can be officially approved.

A number of other companies are also seeking approval from the board, as attempting to get in on Internet gambling has become a hot spot for competing companies. With most of the major casinos, and online established gambling companies, both looking to get in on what is sure to be a lot of potential revenue, it comes as no surprise that you see two large companies teaming up to offer a solution under both France.

For right now, many of the companies are waiting to see what is going to happen on the federal level before making any further advancement. It is thought that the federal government will, at some point, past online gambling legislation that regulates the industry, but it is not currently certain whether not that legislation could potentially be passed in 2013. It will certainly be interesting to see how the bills pan out, and whether not they are able to secure the legislation that they think that they will from the federal level. Until that time, Nevada continues to license individual companies to offer poker online, giving them an excellent opportunity to increase revenue not only for the company, before the state as a whole. This should prove to be an excellent use for both tax revenue within Nevada, as well as the economy.

March 30, 2013

Old Stardust to Become Asian Themed Mega Resort

Filed under: Casino — Tags: , — OCE News @ 2:36 am

Genting has announced that they will be launching a one million-dollar mega-resort, located on the site of the old Stardust in Las Vegas. Although the gambling industry took a huge hit during the financial crisis of 2008, they have been slowly crawling back to fiscal viability throughout Las Vegas. Now, with the company announcing the new mega-resort, and he has been up for other developments located on the strip. The old Stardust, located in northern Las Vegas, shut down after years of financial issues.

The company announced that it is planning on spending anywhere between $2 billion and $7 billion, in order to build a 3500 hotel room resort, that will have an Asian theme. The land had previously been sought after by Boyd gaming, who were planning on launching their Echelon product on the same ground.

There are many analyst that have worried as to whether or not southern Nevada has recovered enough from the 2008 financial collapse to warrant such a big investment on the strip. The new mega-resort could cannibalize the high-end market, and shut down some of the smaller casinos located in the general area. However, it is seen is a good thing by most of the northern strip, which has not fully recovered from the 2008 financial collapse.

However, most analysts oh state that the mega-resort would be a big boost for the economic landscape not only in Las Vegas, but in Nevada as a whole. It is estimated that Asian, and Asian-American visitors make up anywhere between two and 3% of the total tourist traffic in Las Vegas from 2007 through 2011. This gives them a good target market to go after with the new Asian themed mega-resort, while still making it appealing to the broader market. Will be interesting to see what kind of revenue the mega-resort is able to generate during its first few years of operation, as construction will still be ongoing one adores her first open.

The company is still taking on estimates from various developers, for a wide range of different projects within the mega-resort. It is expected that the company will be hiring several firms that have worked on other casinos for renovations in the past, and delivered high-powered results. Presentation is everything Las Vegas, and the choice of developer is a very important consideration for every company.

There has been much debate about what to do with the land that the Stardust used to stand on. With no chance of the Stardust returning, multiple companies put in bids for the land, and ownership of land has been passed around on several occasions. However, since 2008, no one has been willing to pull the trigger on developing the large, costly piece of land. However, Genting a step to the plate, agreeing to invest as much is $7 billion if everything goes to plan. It remains to be seen whether the new mega-resort be the economic boost that Las Vegas has been hoping for, or whether it will turn into another failed project on the Las Vegas strip.

March 28, 2013

Nevada Online Gambling to Remain Poker Only

Filed under: Casino — Tags: — OCE News @ 2:36 am

As of late, there has been some debate as to whether or not Nevada should consider looking at other forms of gambling, aside from online poker. The bill, Assembly Bill 114 has gained a lot of attention recently, and has been relatively badly covered by most of the media. Although, if you were to ask lobbyists, they would tell you that the bill actually legalizes online poker Nevada. However, the bill itself does not contain the word poker in one time.

Instead, the bill legalizes what he calls interactive gaming, which could encompass many different forms of online gaming that are quite popular around the world. However, for right now, the industry is only going to focus on poker. It is apparent that the companies that are looking to capitalize on this are not interested in drawing too much attention to all of the different forms of gambling that the legislation legalizes.

New Jersey, passed a law last week that legalized a large amount of online gambling, and was not afraid to acknowledge the different forms of gambling that were legalized the bill. As of right now, both Nevada and New Jersey are attempting to rush in order to get themselves into the forefront for online gambling, which is expected to be addressed by federal legislation at some point in the near future, although it is not clear whether not that legislation can be expected to be passed down in 2013.

The decision to limit online gambling poker, is one that is much more political decision. The state legislator wanted to make certain to open up interactive gaming in multiple different forms of gambling so that they could expand the number of ways in which revenue can be created. Nevada has estate is looking for a way to generate additional tax revenue, and online gambling across multiple different games would provide them with much more than just online poker would.

With dozens of different companies jumping on board the train, attempting to get license by the Nevada gaming control board to be able to practice poker gaming online, the industry as a whole seems to be in a state of disarray as New Jersey moves forward with their legislation, Las Vegas and Nevada have Artie passed legislation but have more in the pipeline, and no one is certain whether or not the federal government is going to step in and regulate the industry on their own. Until that time, it is clear that both states want to establish themselves in the online gaming industry, in an attempt to bring in as much tax revenue as possible. Of course, the companies that are licensed to operate online are also pushing for a quick resolution to the issue, as they would like to begin collecting revenue online as well.

It will be interesting to see how quickly the situation can be remedied, and whether or not the federal legislation is going to come through in 2013. Until that time, it is clear that the states are willing to take things into their own hands to secure tax

March 26, 2013

Only Big Companies Getting Into Online Gambling

Filed under: Casino — Tags: , — OCE News @ 2:34 am

If one thing is become clear, it’s that only big companies are going to be allowed to take part in the online poker industry, that has been emerging in Nevada over the course of the last year. So far, total of 19 companies have been approved to run online poker and other gambling operations, while most of them are some of the largest companies that the area has to offer. Very few small companies has even been considered, and none have received their license at this time. This shows that the laws do not open the floodgates for online gambling, and instead only allowed if you companies through.

In order to get a piece of the industry, tech companies, software development companies, and other entrepreneurs are going to have to utilize relationships with existing casinos and resorts in order to be considered. The goal of this approach is not to allow fly-by-night individuals to gain access to the license, and instead to ensure that the companies that run the system are never long haul. This, plus the fact that it is going to provide a huge boost to the Las Vegas economy, and since gambling is their main draw, it only seems logical to limited to their biggest companies.

A number of tech companies have been eager to join the online gaming fray, teaming up with some of the larger casinos and resorts on the Las Vegas strip. You need to acquire a $500,000 operating license in order to even be considered. After that, there are other restrictions such as the number of rooms at your hotel can have, whether or not it has a 24 seven restaurant, bars, and the size of your casino or are also taking into account when you apply for the license. This limits the number of companies that can apply, in most companies that are eligible are interested in getting into online poker.

These companies are the largest companies that have invested in the state, and for that reason they have been rewarded with licenses to offer gambling on websites. Some of the arguments for this approach are the fact that existing casinos can be trusted and have a precedent set through their years in Las Vegas. There are also big, brands that are known around the world and instantly recognize which gives them a better chance for success. This, combined with the fact that previous to this, a legal online gambling companies had been profiting from the industry, leaving Las Vegas with no way to get involved. Online gambling is certainly going to be the way of the future, but just how long it is going to take in order to become normalcy is not yet known.

It will be interesting to see how everything pans out. As of right now, Nevada and New Jersey are going head-to-head attempting to be the first states to gain access to online poker, before federal legislation is handed down, which is expected to take place at some point in the near future. It is not currently known the federal legislation will come in 2013, but almost certainly 2014.

March 24, 2013

New Jersey Sports Gambling Because Much Less Likely

Filed under: Casino — Tags: , — OCE News @ 2:33 am

New Jersey has made it no secret that they are looking to get deeper into the gambling industry in order to increase the amount of tax revenue that they are able to bring in. It was recently ruled that the 21-year-old law that prohibited sports betting in all but four states were not completely legal. As the state look to become one of the for states to adopt what is a multibillion dollar industry, there were shut down and the Supreme Court.

The ruling was originally published on late Thursday, and is the second time that New Jersey failed in their lawsuit in order to establish themselves as a sports betting state. They are looking to allow betting at four major professional sports leagues, as well as the NCAA. The state is Heather claims denied in the past as well. It will be interesting to see if any changes are made to the legislation, before they attempt to pass it once again in order to give it a better shot of being accepted.

Gov. Chris Christie responded to the ruling of the judge, saying that he believed that the principles on their position on sports betting and the federal ban is illegal one. It is not expected that the ruling by the judge will be the last time that this is brought up within the state, as the state.to continue to fight for their right to have sports betting legal within the state. For many, the ruling was a huge display meant. To allow sports betting would bring in millions in potential revenue for the state, allowing them to you better recover from the recent tragic storms that have fallen over the area. The first New Jersey sports betting referendum was passed in 2011. It is clear that the citizens of New Jersey are behind me expansion of betting within the state, both in online poker, as well is in sports betting, should the right legislation make it to a judge.

Betting would be open for the NFL, NBA, NHL, major league baseball, and all sports played in the NCAA. A number of other states have attempted to legalize sports betting as well, only to be shut down in the Superior Court before became legal. It is clear that many states see a huge surge in revenue possible from beginning to accept sports betting, and running it as a state function.

It will be interesting to see whether not in the future, sports betting is allowed in New Jersey. As the state continues to push through new legislation, it becomes clear that they are uninjured in their fight to get the legislation that they believe is legal, passed through the upper courts. Each year, billions of dollars are better legally in the state of Nevada, and New Jersey has been slowly but surely attempting to become the next eight to be a gambling hub within the United States. Although they are known for their gambling, it is clear that the state would like to take their operations online, and also towards sports betting, as sports are quite popular throughout the state and would likely generate a large amount of revenue

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