MGM CEO Not Too Concerned About Web Poker BanJim Murren Is Against RAWA, But Says MGM Would Be Fine Either Way |
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MGM Resorts International CEO Jim Murren had some interesting comments about the proposed ban on Internet gaming when he was speaking to the LVRJ’s Washington Bureau, among other news outlets, on Wednesday.
Murren said that it wouldn’t be the end of the world, for MGM, if online gaming is banned. Internet betting is just a tiny part of the company’s mammoth business.
“People will go to our resorts because we provide a form of hospitality and entertainment they cannot get at home and they certainly can’t get on the Internet,” he said. “Our business model is not based on the Internet driving business to us. So getting the growth of Internet gaming in and of itself is not required for us to meet our growth projections.”
Later, apparently due to the attention given to his comments, Murren clarified his thoughts.
MGM's Jim Murren has expanded on what he meant by the sky not falling if an online gaming ban is passed. pic.twitter.com/QUre1TkCoY
— Jon Ralston (@RalstonReports) April 30, 2015
Interestingly, William Horne, the Nevada lawmaker who spearheaded the Silver State’s efforts to regulate online poker sites, said on Twitter he agrees with Murren.
Online gaming is currently legal and regulated in Nevada, New Jersey and Delaware. However, California and Pennsylvania are making moves toward their own markets.
With regards to federal efforts in the past to legalize online poker nationwide, Murren had this to say: “The industry has as much to blame for the lack of success there as anyone because we could not agree as to what day it was as an industry. Everyone had a different point of view on how best to craft a bill, and it failed.”
Serious attempts at legalizing online poker federally have been dead for at least two years.
Now, casino operators with an interest in online betting have to fight against a proposed federal ban, which is being pushed by Las Vegas Sands founder Sheldon Adelson.
Nevada’s gaming industry wins roughly $11 billion a year off of gamblers, with just $120 million or so of that coming from live and online poker. Web poker needs liquidity, and that’s why Nevada teamed up with Delaware for online poker. The results have been modest so far.
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