Harrah’s can gain from online gambling
American casinos are making noises about wanting to expand gambling in cyberspace. And why not? The Internet had nurtured a whole generation of new – and anonymous – poker players who wanted to prove their competitive skills at real tables where they could win fame and fortune.
But not everyone is for Internet gambling legalization. For years, members of the American Gaming Association, which lobbies on a federal level and has closely watched the debate over online gambling, have been split on the question. The association’s two largest members, Harrah’s Entertainment and MGM Mirage, support some form of legalization.
(Harrah’s, the most vocal supporter of Internet gambling in recent months, also stands to benefit the most from legalization).
Harrah’s owns the World Series of Poker, a multiweek tournament in Las Vegas that has morphed into a global tournament franchise not unlike a major sports league. Days before the 40th annual World Series of Poker kicked off in Las Vegas last month, Harrah’s launched a subsidiary in Montreal to capitalize on the spread of Internet gambling.
Harrah’s Interactive Entertainment, led by Mitch Garber, the former CEO of online gambling giant PartyGaming, aims to develop the World Series brand around the world and explore Internet gambling opportunities in Europe, where certain countries have legalized online betting operations or haven’t criminalized them.
Harrah’s owns the largest customer list in the casino business, with millions of members.
Through poker, Harrah’s is amassing a global and enviable reach outpacing its peers.
Small casino operators know that Internet gambling has boosted their poker business and could raise needed tax money if regulated. They also realize the challenge of competing with a dominant brand like the World Series of Poker.
Overturn the ban and allow Internet gambling.!!