Las Vegas
Las Vegas has recently been rocked by a series of casino and sportsbook related developments, which have proved to be both good and bad for business.
Caesars Interactive Entertainment and 888 are no doubt celebrating, after the Nevada Gaming Control Board approved “the suitability” of a business relationship between the two gambling companies. According to the Las Vegas Sun, “the recommendation is viewed as a big step for Internet gaming”. Speaking about the board’s decision, the CEO of Caesars Interactive Entertainment suggested that “it confirms that Internet gaming is a reality”.
However, there was less good news for sportsbooks in the state, after it was revealed the ongoing NFL disputes could affect the local economy. Players and the NFL are currently disputing a “labour issue” regarding how both parties should split the league’s $9 billion worth of annual revenue. When asked on whether he should intervene on the issue, President Obama told the press that he believes that “at a time when people are having to cut back, compromise, and worry about making the mortgage”, both parties “should be able to work it out”. While the president may not wish to get involved, the NFL dispute will have a knock-on effect on the Nevada economy. Lee Amaitis, of Cantor Gaming, told Associated Press that “it'll be a disaster” if there’s no Superbowl. Jay Kornegay, of the Las Vegas Hilton, also added that the dispute will affect every part of Nevada’s tourist industry, from cab drivers to tourists.
Finally, there was some good news for Pinnacle Entertainment Inc. casino visitors. A new business agreement between Wynn Resorts Limited and Pinnacle means that players who wager at any of the latter’s casinos will be able to spend their points in Wynn Resorts’ Las Vegas Strip hotels. So, players could collect points at the Belterra Casino Resort in Indiana, and put them towards a free room at the Wynn Las Vegas.
