Wynn Resorts Jumps on the Online Casino Bandwagon
Wynn Resorts
Wynn Resorts, the Las Vegas based casino developer and operator, have been reported in the New York Times as becoming more favourable towards online gambling. The company, which is headed up by casino tycoon Steve Wynn, and was founded in 2002, has been reported as changing its stance on online casinos from “never” to “we’ll see”.
This change of stance follows rival company, Harrah’s Entertainment having made advances into the online gaming market and adding their support to the legalisation of online gambling in the U.S. Harrah’s have been by far the noisiest gaming company in terms of the legalisation of online gambling and has publicly added its support to the bill proposed by U.S Rep Barney Frank which would allow U.S residents to place wagers online.
Also warming to the idea of regulated online gaming is the American Gaming Association (AGA), who announced in March that they are open to the prospect of U.S online casinos, as improvements in technology would now allow fair regulation and licensing of online casinos and other forms of gaming.
While it may appear that the legalisation of online gambling would detract business from land based casinos, reports by Frank have estimated that online gambling could increase tax revenues by $971 million. As a result of this, casino operators are starting to take notice and, more than that, they are attempting to claim their own share of the industry.
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