Can Harrah’s and Others Gain From Online Gambling?

22 June 2009

The fight is on. Many people and quite a few big U.S. casinos would love to see internet gambling legalized. For the casinos, this would give them a much bigger market and an ability to reach out to people who never get a chance to travel to Las Vegas or Atlantic City. Not to mention the legions of young poker players who have grown up learning and honing their poker skills on the internet.

But not all is rosy on the gambling front. The American Gaming Association, which lobbies the federal lawmakers on gambling issues, has watched the legislation on the internet gambling issue and has been hotly divided on the issue for years.

Harrah’s Entertainment and the MGM Mirage, two of the larger members of the association, support legalization of internet gambling in some form.However, there are many members who are opposed. They feel like internet gambling cannot be adequately controlled and could embarrass the industry. The end result of all this, is the association has taken a neutral stance on the issue.

Both sides throw up the stories of people bankrupting themselves at the casinos trying to strike it rich. Then there are the fears of people in their homes doing the same if internet gambling were legalized. This fear strikes terror into the hearts of politicians, regulators and the like.

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