Published on August 22, 2013 by April Gardner
Wynn Resorts owner and founder Steve Wynn have been one of the vocal voices in pushing for Internet gambling regulations across the US. Wynn's gaming empire includes top casino resorts not just within the US, but in addition in gaming mecca Macau.
Now, Wynn Resorts is able to bring their brand to the Internet, and they're targeting the newest state to manage online gambling. On Thursday, Wynn announced that they've submitted an application for a web-based gaming license in New Jersey.
The application process in New Jersey was smooth, with over 25 companies applying for the dear certificates. Wynn, it might seem, would have the scoop with their track record of operating probably the most most well-recognized casinos within the world.
"It comes as no surprise that Wynn Resorts has applied for a web-based license in New Jersey," said analyst Trevor Cambs. "Steve Wynn have been a proponent of Internet gambling, and was on the forefront of a few of essentially the most historic developments inside the gaming industry. That is just your next step for the corporate to continue their dominance throughout the industry."
The New Jersey application is thought of as by some to be a reach for Wynn Resorts. Regulators have already said that gaming owners operating casinos in Atlantic City may have the primary opportunity to receive Internet gaming licenses. Wynn Resorts doesn't have any casino facilities in New Jersey.
While Nevada and Delaware have also regulated online gambling in recent years, New Jersey is anticipated to be the crown jewel inside the industry. Analysts have predicted that New Jersey online casinos could generate as much as $1 billion once a year. In comparison, the estimated revenue from Nevada online casinos is simply shorty of $250 million.
"In Nevada, much in their gaming business comes from travelers visiting Las Vegas," said Cambs. "THERE ISN'T as big a marketplace for online casinos as there's in New Jersey. The important thing to how much revenue is generated could lie in how these states interact to share customers."
Federal law prohibits Internet gambling to cross state lines, but New Jersey and Nevada have included laws of their gaming regulations that leaves the door open for the 2 states to eventually interact and share customers. Federal lawmakers also are busy engaged on legislation that may regulate Internet gambling on a countrywide level.
Read More... [Source: Online Casino News]
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