Generally speaking Las Vegas only retains a mild interest in sportsbetting or horse racing. I doubt if someone like Steve Wynn would purposely spend a lot of money to increase his own volume in those areas. The competition for disposable income used for all kinds of gambling in general is another matter.
wil..
wil..
Ebay was a very very strong supporter of this new law and shutting down Neteller.
It would not surprise me one bit if Ebay spent millions backing this.
Through the fallout, they now own the only legit payment/person to person processor and charge 2.9% of transactions.
They also can legally be the main payment processor for the horse industry with neteller gone.
Ebay has ALOT of pull in Congress.
Sean
It would not surprise me one bit if Ebay spent millions backing this.
Through the fallout, they now own the only legit payment/person to person processor and charge 2.9% of transactions.
They also can legally be the main payment processor for the horse industry with neteller gone.
Ebay has ALOT of pull in Congress.
Sean
Agree with Tony. If horse racing had to survive on its own customers' demand there would be maybe 6 tracks in US making money and than not as much as now. They need extreme favoritism politically to survive and prosper like few other industries period. For example, why should the slots at various tracks go to prop up purses or the horses/ But that is the case many places. I like going to the track occasionally when I am near one but if the demand isn't there they should fold like any other business. Their exalted staus has no basis in reality.
They are an industry that knows it needs to line the pockets of politicians in order to get what they want and are likely behind of a lot of trouble for off-shore.
They are an industry that knows it needs to line the pockets of politicians in order to get what they want and are likely behind of a lot of trouble for off-shore.
IF they are bankrolling it (and I, for one, believe they are) it's got zero to do with sports. Vegas has a god-given monopoly on sports in this country and they're afraid to learn how to use it.
IMO, this is plain & simple. They're "Zamboni-ing" the ice so that they can start their online poker sites. Reel all the offshore money back onshore, put the would-be competitors on life support, get the UIGEA put on ice/repealed and launch wynnpoker.com.
Only time will tell...
IMO, this is plain & simple. They're "Zamboni-ing" the ice so that they can start their online poker sites. Reel all the offshore money back onshore, put the would-be competitors on life support, get the UIGEA put on ice/repealed and launch wynnpoker.com.
Only time will tell...
Journeyman said:
Its worth noting that the land based gambling companies, and their big industry group (the American Gaming Association) has changed their tune several times on the subject. If I'm not mistaken, their current position is that it should be "studied".....
The cynical view is that they were opposed to it until poker blew up and starting bringing a ton of people into their casinos...
Journeyman is correct that several of the Nevada politicians--particularly one female representative who's name escapes me at the moment--were very vocal in their opposition to the regulations snuck into the Port Security Act.
At this point, I'd imagine that Steve Wynn and, to a lesser extent, Lanni would like to see online poker continue to sell the game to Middle America. All of the online poker players want to go to Vegas at some point, and that's good for business...
Journeyman said:
Jman is right on the money here as the Representatives from Nevada were strongly opposed and some of the most outspoken advocates against the bill. Since Vegas is more corporate now then ever before, the small hold percentage made on sports wagering makes it unattractive compared to the same floor space that could be used for slots and table games where the take is much better. A real sign of change will be if we begin to see the Vegas limits raised for sports betting.
Steve Wynn is not that stupid. He's stupid enough to destroy a $100 million dollar painting, but not lobby to ban online gambling, which has made him quite a bit of money over the last few years. Online gambling isn't a substitute for in person gambling. Find me a B&M Casino that did worse off last year than they did 10 years ago. 2 morally superior senators were behind this whole thing.
oldmanTED said:
As I noted above, I don't think sports betting was really the cause of their opposition.....it would be nice if they were taking a philosophical stand but IMO its more of a case where poker has become such big business for the Nevada casinos that the industry and the state's politicans want to see that continue. Sports betting and other forms of online wagering are probably of significantly less concern...
The corparations are being directly screwed on this. There international expnsion plans went out the window on this bogus NT stuff. They needed one solid processer to advance there plans and NT was it. They need the american market to pour into the places they planed in order to secure the type investor money they needed to advance there plans.
Also all the major heads at the G2E convention said that this law should be revoked and I am positive they were/are working toward that end.
The DOJ put this bogus bullshit together to stop the corparations from advancing and upsurping there power.
Whenever they get around to doing a budget for the country we will hear a lot more. UIGEA is coming down and the southern idiots of NY will be under attack. Mark my words.
As it stands UIGEA will never be funded and the DOJ knows it. So ahead of the budget they pulled this mess to try and make a law stick they know wont.
Also all the major heads at the G2E convention said that this law should be revoked and I am positive they were/are working toward that end.
The DOJ put this bogus bullshit together to stop the corparations from advancing and upsurping there power.
Whenever they get around to doing a budget for the country we will hear a lot more. UIGEA is coming down and the southern idiots of NY will be under attack. Mark my words.
As it stands UIGEA will never be funded and the DOJ knows it. So ahead of the budget they pulled this mess to try and make a law stick they know wont.
Neteller was not prosecuted under the UIGEA.
The overt acts in the criminal complaint are dated in August and September.
To the original question, coreect me if I am wrong, but Vegas was very opposed to the expansion of Indian gaming until they figured out how to get a piece of the action. How many major Vegas corperations get a healthy piece of the Indian gaming business for "management?"
The overt acts in the criminal complaint are dated in August and September.
To the original question, coreect me if I am wrong, but Vegas was very opposed to the expansion of Indian gaming until they figured out how to get a piece of the action. How many major Vegas corperations get a healthy piece of the Indian gaming business for "management?"
