New Jersey Gov. “Today I sign into law the framework that will usher in the next frontier of gaming in Nevada.”
The benefit for other states, he said, is Nevada’s “most mature regulatory infrastructure.”
Several other states began looking into online gambling after the Department of Justice issued a letter in 2011 stating that the federal Wire Act of 1961, often used to crack down on gambling over the Internet, only applies to sports betting.
“It’s imperative for the success of this that we compact with other states because we don’t have a universe of players,” Ernaut said.
Nevada wanted to beat New Jersey, its East Coast casino rival, to the online gambling punch. But when those efforts failed in Congress, Sandoval said Nevada would work toward agreements with other states.
“This was a lot of work and it couldn’t have been done without the governor’s leadership and vision,” he said.
Pete Ernaut, a lobbyist representing the Nevada Resort Association, said expanding the customer base was key.
Gambling regulators will now come up with regulations dictating compact parameters.
AB114 authorizes Nevada to enter into compacts with other states to offer Internet poker. Chris Christie previously vetoed an online wagering bill but has indicated he may sign an amended version next week.
Partnering with other states gives Nevada an expanded customer market and provides other states with Nevada’s expertise in gambling regulation.
He praised legislators for their swift action and commended Assembly Majority Leader William Horne, a Democrat from Las Vegas, for shepherding the bill.
AG Burnett, chairman of the Nevada Gaming Control Board, said the state already has about 20 applications from various operators, equipment and software vendors to be licensed for online gambling.
“We have the most mature financial, auditing and collection capabilities, much greater than some of those states, and they have the players,” he said.. A renewal fee was set at $250,000.
The measure makes Nevada the first state in the country to approve interstate online gaming, notes CBS Las Vegas affiliate KLAS-TV, adding that it was put on the fast track Thursday. Brian Sandoval signed legislation Thursday legalizing online gambling in Nevada, capping a dizzying day at the Legislature as lawmakers passed the bill through the Assembly and Senate as an emergency measure.
Sandoval, a former chairman of the Nevada Gaming Commission added, “This bill is critical to our state’s economy and ensures that we will continue to be the gold standard for gaming regulation.”
Horne, in turn, had equal accolades for the Republican governor.
“This is an historic day for the great state of Nevada,” Sandoval said, flanked by dozens of state lawmakers. Sandoval had pushed for companies that want to offer online gambling to pay a $500,000 fee, while Horne, in the original bill draft, proposed $1 million.
Sandoval and Nevada legislative leaders said it was important for Nevada to remain at the forefront of gambling regulation.
Under a compromise, the fee was set at $500,000, though it gives the Nevada Gaming Commission authority to change the amount. It sailed through both the Assembly and Senate on Thursday after a joint hearing before the two judiciary committees.
“As to our competitor, New Jersey, they should be accustomed to following Nevada,” he said.
Horne couldn’t resist at jab at Nevada’s gambling rivals.
CARSON CITY, Nev. Gov. Senate and Assembly judiciary committees approved it, sending it to the Assembly where it passed unanimously.
The bill approved Thursday resolved a disagreement between Horne and the governor’s office over licensing fees. The Senate passed it at midday and sent it to the governor’s desk for signature.
Lawmakers in 2011 passed a bill that put Nevada in position to legalize Internet gambling if the federal government sanctioned it
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Posted by admin on August 31st, 2016 :: Filed under online gambling
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