Casino Losses May Push Nevada to Try Attract Online Casinos

August 27, 2009 | News Category: Online Casinos

0 Comments

While land-based casinos are losing money as the financial crisis hits hard, the mainstream online casinos are holding steady, and some have even had a slight rise in income in the past few weeks.

Land-based casino gambling fell by 17% in July and is still on its way further down. People are spending more time closer to their homes, and are traveling less than before. This means that fewer gamblers and entertainment-seekers are traveling to Las Vegas and other gambling centers in the United States.

People are being more careful about spending their money, and a trip away is far more expensive than finding entertainment close to home, and partaking in online gambling rather than land-based gambling, since no travel, hotel and extra food costs are incurred. It is possible that after the summer, numbers may pick up slightly for land-based casinos since those people that have chosen outdoor activities may well be driven indoors by the winter weather which is to come.

With the competition that is out there, online casinos are upping bonuses and promotions to add extra incentives to bring players to their online casinos, as well as releasing new games more often in order to attract those players that like to have a wider variety of choice.

Should Barney Frank's bill to regulate and legalize online casinos be adopted as law, the state of Nevada is in an excellent position for potential new online casino operators to base themselves there.

It is likely that online casino operators would be subject to similar taxes and licensing fees that the land-based casinos are already paying. Nevada would be an ideal location to base online casinos according to Dennis Neilander, the chairman of the Nevada Gaming Control Board. He said that since there are already existing gambling laws in the state, they can be changed slightly in order to comply with any new federal rules.

Greg Gemignani, a Nevada gaming attorney said "There are a substantial number of Nevada licensees with experience in technologies, systems and management of systems that can be used for online gambling."

Many land-based casinos are preparing for the time that online casino gambling is legalized, so that they will be ready to apply for licensing as online casinos, and will not be left behind in the rush that is likely to occur.

It is unclear exactly what direction the online casinos will go in since the flailing economy continues to cause job losses and homes that are foreclosed. However, what does seem clear is that online casinos can brave this storm far better than land-based casinos.