Las Vegas Waiting on a Decision from Reid
Tuesday, January 19th, 2010Internet gambling is the newest fad in the US market. Legislators everywhere are looking to gambling as a means of creating additional revenue streams for suffering economies. Senator Harry Reid has discussed the issue and committed himself to doing what is best for the state of Nevada under his lead. Regarding internet gambling, he has said that he will listen to the people and watch the market to see if both are ready to move forward. Since his commitment first began, however he has seen it as a detrimental move for the state’s economy and has been a staunch critic of the pastime. While other states are embracing internet gambling, Reid is not.
Though he is firm in his belief some experts are chiming in on his position. They believe that if he is truly trying to do what is best for his state, he will consider rethinking the internet gambling issue. Representative Barney Frank has been vocal and proactive about bringing internet gambling to the US market. He has fought hard to come up with an amendment to the UIGEA and has a code in place to legalize and regulate gambling.
Despite moves to legalize gambling, Reid is a formidable opponent to the move. His vote could become crucial to the upcoming battle in Congress over the question of internet gambling legalization. Many gaming analysts believe that the best move for Nevada would be to regulate online gambling. They say that if Las Vegas was a forerunner in the industry of online gambling, and made it successful, it would bring a new notoriety to the market. The casino companies have been split on their approach, even at a time when revenue is down and the economy has severely hurt the industry. Wynn Resorts wants no part of Internet gambling regulations, other companies in the city do. Harrah’s for example is bracing itself for a move into the world of online gambling already. Company directors see the market as lucrative and see the potential of moving gambling online. They want to be set up and ready for the potential revenue stream.
It is going to take a few more months for legislators to regulate online gambling but people are still waiting to see what Reid’s stand is going to be. Although he is at liberty to choose either, no one can debate that bringing online gambling to the state could bring in the much-needed funds to turn the economy around.

