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There's Gold In Them Thar Internet Poker Rooms!

By Chuckmonster on Thursday, 24th March 2011 6:10pm
  » filed under The Internets  comments: 6

   

Let us mark today - March 24, 2011 - as the day that the brick and mortar casino companies got serious about gaming on the internet.

In a landmark decision by the Nevada Gaming Commission, Caesars Entertainment Corporation's relationship with 888 Holdings has been approved. 888 Holdings is a provider of internet gaming operations - servers, software, security - from their home base in Gibraltar. 888 Holdings powers internet poker destinations and other online casino games.

This paves the way for Nevada gaming companies to get into the international business of online gaming and give them reason to pu$h industry lobbyists to have the ban on internet gaming inside the U.S. repealed, pronto.

Meanwhile, right up the street, Wynn Resorts announced today that they are engaging in a partnership alliance with PokerStars, one of the leading online purveyors of internet poker tournaments. This is important not a perceived diss of Wynn Resorts as the Admiral asserts, but for Wynn's full-on, quick-lets-get-in-bed-right-this-moment announcement within minutes of the way being paved by the Caesars/888 deal.

So who is the next shoe to drop? MGM/FullTilt is my guess. And how long will it be before Nevada brick and mortars start gobbling up the net poker domains in straight cash acquisitions. "The PokerStars Room at Wynn Las Vegas" has an.... uh... interesting ring to it eh?



Tagged: internet   poker   casino biz   wynn   caesars   mgm   pokerstars   888 holdings   fulltilt   





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Comments & Discussion:

I think you misunderstood my post (or maybe I misunderstood your sentence above). I just found the 'our company has been doing this for 40 years' shtick interesting, considering his company is actually nine years old.

This stuff is a big deal, especially combined with the stuff happening the Nevada Legislature that Dave wrote about yesterday.

i understood it, just seemed like the actual story was gigantic in comparison.

It is. Dave wrote about the issue quite a bit yesterday.

My post wasn't meant to be anything more than it was - picking out a random little bit of ephemera from the release.

David McKee wrote about it too yestereday. http://dmckee.lvablog.com/?p=6110 it appears though that even with CET's involvement they are still leaning on the legislature to vote no in Nevada.

I could be wrong, but hasn't CET had this relationship for a while now though, understood that it's just now getting through the approval process, but I could have sworn it's a 2+ year old relationship.

I'm definitely hopeful though that the LV casinos are able to lead the way for online gaming in the states, I think that lobby is going to be necessary to have things done (kind of) right and at worst I think the boost to these companies is good for the strip overall.

Caesars has been setting this up for a good two years' now, when then Harrah's Entertainment hired that guy to head their department to prepare for internet gaming regulation.

It is no surprise that Wynn jumped in with Pokerstars, as we can also expect MGM, Adelson, Boyd Gaming and even Stations to announce their personal alliances with the other big name sites.

Even the RJ has been in bed with NLOP for two years, (if you can even call that a poker site) running a link to "free poker" from the RJ homepage.

While I want to be ecstatic as an internet poker guy, it sounds like good news, but if history teaches us anything, governments make the stupidest decisions when regulating gambling. Right now, we are kind of flying under the radar. After this, it will be regulated by some bureaucrat trying to take the money from CET/Wynn/Stars etc while also trying to appease the extreme anti-gambling crowd with some retarded rule(s) that will either 1) destroy value 2) raise costs dramatically or 3) change the game in such a way as to make the exercise pointless.

Funny how internet gambling is destroying American families until a big American Casino corporation gets in on the game and the tone cahnges. This can't be what Thomas Jefferson had in mind.



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