A major step has been taken in the world of Internet gambling: Nevada has allowed the Internet gaming company Caesars Entertainment to team up with the Israeli subsidiaries of another Internet gaming company based in Gibraltar.
The Approval
Apart from Commissioner Joe Brown, who couldn’t vote due to a potential conflict of interest, the vote was unanimous. It was approved because no violations concerning any state regulations or policies could be seen. This has been recognized as a major move as it’s the first time that a government has regulated Internet casino gaming in this manner. Basically, the main point is that the US government has shown that it holds no issues over Caesars Entertainment joining forces with a large Internet organization. However, this doesn’t actually affect US citizens who play online.
The Partnership
The partnership is between Caesar’s Entertainment and Cassava Enterprises (Gibraltar) Limited and Fordart Limited, both of which are subsidiaries of 888 Holdings PLC. The latter company is a massive presence within online gaming and provides casino games, bingo, poker, social gaming opportunities, and sports wagering for players living in the UK, Italy, and France.
No clear plan has been offered up as to what this new relationship will bring. Looking at the past, however, with Caesar’s takeover of World Series Poker, it is planning to branch out into Europe. Caesars’s did explain that a major reason as to why they wanted the partnership was to gain access to the other organization’s online gaming hardware and software.
Concerns
A main concern of the commissioners was over social issues, including underage gaming, gambling problems, and money laundering. 888 officials explained that there were precautions put in place to counteract such problems. In the case of preventing individuals under 18 years old playing, there were numerous safeguards in place. And, in terms of illegal activities, any accounts found in which it appeared that suspicious activity was taking place would be immediately closed.
Future Implications
It’s thought by some that this is a move towards finally legalizing gambling online. Caesars has been a massive supporter of this step and the feeling is that they’ll use this partnership to really push online gaming. Despite the fact that many other countries worldwide have embraced this form of gambling, the US is still not willing to jump aboard this bandwagon.
A day after the meeting in which the relationship was approved a Las Vegas Democrat, William Horne, put forward legislation which would give the state control over Internet poker. The argument was that by licensing such sites in Nevada, the state would be able to benefit financially and they would gain more control which would help prevent any illegal activity or corruption. Currently, the Nevada Gaming Commission doesn’t look as though they’re willing to set off down this route just yet. Nevertheless, this doesn’t take away from the fact that Internet gaming is definitely more at the forefront now and that federal regulation is more of a possibility.