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Nevada: Extension of licenses for six operators of online poker
One year after the launching of the first poker site in Nevada, the market of online poker inside the State has difficulty to find its bearings. During the first month of launching, the revenue of online poker didnt manage to compete with other online gambling, namely casino games, slot machines and sports betting. In February, online poker generated a gain of $824,000, or the double of bingo ($490,000), but it is widely below of earnings from other online gambling in Nevada. Its because Nevada is a small State with a «saturated market», given the limited number of players. And its the reason for which Nevada has signed an agreement of sharing of liquidities with Delaware, but the process is currently remaining pending. According to experts, 500 players connected at the same time are required to make online poker profitable in Nevada, while now, only 150 players are simultaneously connected on the three poker rooms approved, namely WSOP.com, Ultimate Poker and Real Gaming.
The Nevada Gaming Control Board has decided to expand the licenses of six operators based in Las Vegas and Reno: Boomtown Reno Truckstop, Grand Seinna, Golden Nugget, MGM Resorts, Z4Poker and Boyd Interactive Game. These new operators should launch their poker game online in the next six months; otherwise their licenses will be removed by the regulator of gambling in Nevada. On their side, the operators count studying more the market by weighing its advantages and drawbacks before dashing. They wish also that the regulator modifies the current membership fees which include an entry fee of $500,000 and an annual subscription of $250,000.
Source: Jack SMITH
Monday, 07 April 2014
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