MGM Resorts Announces Alliance with Bwin.Party Digital Entertainment
02 November 2011
With billions on the line, people like Donald Trump and the major casino companies are rushing to get into the right position to take advantage of if and when the United States regulates online gambling.
The MGM Resorts announced this week their poker alliance with Bwin.Party Digital Entertainment, the company that owns Party Poker, the second largest online poker service worldwide and the World Poker Tour.
Jim Murren, chief of MGM Resorts said in a statement;
“MGM is proud to have bwin.party as our partner as they have the assets and experience that, combined with our brands, can ensure a secure, fair and entertaining online poker experience.”
Of course this is all contingent on an online gambling regulatory regime being started on either a local or state level. This bet on an online regulation seems to be where all the big money is heading. Boyd Gaming also announced it is entered into an online poker alliance with Bwin.Party as well.
According to Jim Ryan, co-chief executive of Bwin.party they have been working on both these alliances for the past 18 months. Bwin.party is slated to own 65% of the proposed joint venture, while MGM will own 25% and Boyd will own 10%. Bwin.Party will also license its technology to both MGM and Boyd so they can offer online poker under their own brands as well.
According to Ryan, “The intention of the joint venture is to take the PartyPoker brand and the World Poker Tour brand and our operating expertise and combine that with the regulatory expertise of MGM and Boyd. Effectively you will have four brands in the U.S. and all four brands will be acquiring players and putting them in one hub, one poker network.”
The U.S. poker market has been the world’s largest even as the U.S. try’s to curtail as much as it can. Now, the U.S. casino industry has made an about face and is pushing for regulation to regulate online gambling market either on the state or federal level.
30 January 2012U.S. Gaming Survey Finds Support for Online Poker
The U.S. Gaming Survey, founding by a research group over 30 of online gambling, conducted a survey in December with the Poker Player’s Alliance and found a strong support for regulated online poker. The survey had 8,000 respondents from all 50 states as well as Puerto Rico. The general demographic was 30-60 years old with income of over $50,000 a year.There were some interesting answers to some of the questions.Read full article
16 March 2011Big Opposition to Nevada Online Gambling Bill
As expected, some pretty big opposition has stepped forward to try and defeat the Nevada online gambling bill that is now trying to make its way through the Nevada Congress. Some of the biggest and most powerful casino companies have lined up against the bill which now looks to go in the direction of all the other recent attempts, defeated or just loss in debate.MGM Resorts International and Caesars Entertainment Corp. have come out against the proposal.Read full article
20 December 2010Legalized Gambling in U.S. Running Out of Time
“On behalf of the millions of Americans who play online poker, I am disappointed Congress has not acted to implement important licensing and regulation of this growing industry. Not only will this include valuable consumer protections, but it also will pump much needed funding and jobs into the weakened U.S. economy. It’s a missed opportunity, pure and simple.”Read full article