GOP Platform Could Hurt Nevada Economy

Nevada political leaders and gaming firms believe online gaming legislation would benefit the state’s economy. According to recent polls, they are concerned that the GOP platform could cause considerable damage to the state’s economy.

Richard Velotta of Vegas Inc said the state has made considerable progress towards legalizing online gaming. Lawmakers’ efforts to legalize intrastate gambling can help create jobs and lower the state’s deficit. However, the state has fewer than 3 million citizens. Velotta argues that isn’t enough to considerably benefit Nevada’s economy.

Experts argue that Nevada is depending on a federal bill that would legalize online poker. A federal bill would enable gaming firms in Nevada to enter into compacts with other states. That would improve the scalability of their businesses in a way that everyone would benefit. That won’t be possible if the Republican Party successfully blocks any bills that would legalize online poker at the federal level.

Experts continue to debate the impact online poker will have on Nevada’s existing casino industry. Many casino owners such as Sheldon Adelson appear concerned that online gaming would threaten their businesses. However, some experts believe that legalizing online gaming would actually help the casino industry.

They hypothesize that many players will start off playing online. They feel these players will eventually yearn for a more personable experience and visit one of Nevada’s casinos. Regardless of how online gaming will impact the casino industry, most experts expect it will have positive implications for the economy as a whole.

Gov. Sandoval said that he isn’t concerned with his party’s stance on online gaming. Sandoval believes Nevada will be able to move forward with its plans for online gaming even if federal lawmakers decide to stop a bill from moving forward.

This blog entry was posted on Monday, October 15th, 2012 at 10:02 pm and is filed under Blackjack News.