MGM Set to Revolutionize Online Poker in Nevada Following Approval
November 20, 2012
MGM Resorts International has moved closer in its quest to offer Nevada’s gamers online poker at an intrastate level. This follows a successful approval by the Nevada Gaming Control Board. The board gave MGM an initial approval as a gaming operator to go ahead with its quest to provide an online poker platform. Following Thursday’s endorsement, MGM anticipates to introduce an online poker site by the beginning of 2013. The site will be on the bwin.party platform.
Later in the month, MGM expects the Nevada Gaming Commission to award a full license.
In a separate interview with Reuters, Jim Murren the MGM CEO expressed his satisfaction with the way different states were engaged in talks. He was pleased to note that much as these states had come up with their own laws, they were willing to team up with others. It would be good for business if different states would come together. Those states that isolate themselves are making it difficult for the economy to thrive.
In October, MGM entered into agreements with Boyd Gaming and bwin.party while anticipating that gaming would be legalized. Under the terms of the agreement, bwin.party gets a 65%, MGM 25% while Boyd takes the remaining 10%. For taking the lion’s share, bwin.party is supposed to provide and maintain gambling infrastructure for its partners in the venture.
Already, Boyd Gaming has a license while bwin.party is awaiting response on its application. Bwin.party has not yet met with the regulators. According to Jim Ryan, the CEO of bwin.party, the U.S government was previously faced with the question of whether to regulate online gambling at state or federal level. While speaking to Poker News, he said that this has now changed from “if” to “when.” It is just a matter of time before intrastate gambling is made legal.
As for bwin.party, they will have to wait until the new year for their licence.
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