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Now Reid is finally telling the real story of why he is fighting to keep online gambling out of the state. The state of Nevada remember has made a long list of changes to help the market. First there was City Center on the Strip. It is a billion-dollar endeavor that included hotel rooms, suites, condominiums for sale, retail outlets, casino gaming floor, entertainment stage and a business center. The purpose was to bring in more customers who wanted premiere gaming and to see Las Vegas in its former way of decadence and luxurious success. Unfortunately City Center was not as successful as was originally hoped. Not that there isn’t time for things to change, but if the past numbers are an indication, the center is not going to turn things around quickly. On top of that Las Vegas casino owners are pushing for a long list of bonuses and price breaks for customers. If you want to find a great deal, then now is the time to visit a Las Vegas casino. They all have some type of special bonus. That could include meal comps, half price show tickets and many other bonuses. You are going to love what the market has to offer, but still is trying to gain the same market share it has pre recessionary times.

Reid confirmed that his biggest concern with legalizing online gambling is the fact that it will lead to more gambling competition. That competition then will make it next to impossible for land-based gambling to return to its older numbers. It won’t be easy to bring in revenues. The convenience of online gambling may stifle land based casinos from their own revenue shares. This in turn could stop their growth and severely stunt their return to normal. Reid is trying to protect the land based gaming casinos already in the state. He wants to make sure that they are safe before he makes any large changes like legalizing online gambling. He has made it clear that his primary focus is on bringing true revival to the market. The way he believes he can best do this is by protecting land based gaming and its market.

Senator Harry Reid has long been an opponent of legalizing online gambling. He made many moves indicative of a man who did not want online wagering to be legalized, but until now his true reasoning was not known. Many experts speculated that Reid was holding the notion that with legalization of more gaming, inevitably comes crime and corruption. They opined that he possibly was worried about the social cost gaming would bring to Nevada. People on the other side criticized him though. They said that if he was going to be so negative about online gambling, why wasn’t he negative about the Nevada economy to begin with. Let’s face it, they argued, Nevada is a gaming state. If you ask anyone what the main market of the state is, everyone will tell you “gambling.” It made it difficult for people to understand why Reid was holding out for so long and is still negative about online gambling being legalized. He has made it clear that he is not supportive of online gambling or its regulation in the market- regardless of how much money is available as a result. Now the true reason for him dragging his heels is coming to light.

Reid stated that he is well aware of how depressed the Nevada market is. Since the recession, the state has been down in gambling numbers and nothing seems to be bringing it out of its slump. People just aren’t wagering like they did pre-recession. They are still being very conservative with their money and gambling doesn’t fit into that mix. That is unfortunate for Nevada because the state needs more traffic in casinos to turn thing around. Without an increase in customers, the state will continue to have to scrape by and possibly use more cutback tactics to manage through the end of the recessionary period it is facing. So far casinos in the state have already had to use layoffs and serious cut backs to maintain their open casinos. They are trying everything they can to reinvigorate the state, but nothing seems to be working so far.

Part two coming next.

Senator Ray Lesniak is looking well on the decision of Senate Leader Harry Reid to deny the passing of online casino gambling. Reid denied the federal legislation and believes that online casinos should remain where they are as a result of the UIGEA rulings. Not that they both aren’t noting all that Harrah’s Entertainment has been doing to further the cause of online gambling in New Jersey. Harrah’s Entertainment has been instrumental in pushing for Governor Christie’s campaign manager to take his position. The casino also has pushed for online regulations to be instituted. It is no secret that Harrah’s is setting itself up well for online legalization of gambling. The company knows full well how lucrative gambling is and wants to get in on online gaming from the ground up when the laws change. Those laws are not going to be changing anytime soon however and Harrah’s Entertainment officials saw evidence of this with the decision to shoot down possible approval in the state. The company is left to hope that in the future as online gambling continues to break records, legislators will be willing to revisit the issue and change the laws regarding it.

Lesniak is looking for other areas of development when it comes to gambling. His goal is to move to intrastate online casino gambling that has uniform laws for taxation. He doesn’t want to fall into the same problems the EU has right now. Member states belonging to the European Union all have their own rules regarding gambling. The EU is finding it difficult to bring all together under one uniform code. New Jersey doesn’t want the same problems, stated Lesniak. The state has to find ways of helping current gambling issues to resolve themselves and to help the horse racing market to rally. Racing has taken a hard hit due to lack of customers over the past few years. The recession was particularly difficult on race tracks and most are looking to bring in slots gambling as a means of sustaining their budgets and remaining open as a result. It will take time to change, but Lesniak and Reid both voiced their opinions on the issue online gambling and how it should not be legalized just yet for the state of New Jersey.

There are many countries debating the legalization of online gambling. There are billions of dollars to be had in the market and that is proving to be too big a price tag for legislators to pass up. The reality is that if people cannot gamble in one country, they will find other countries to wager in. That means that governments that are staunch against online gambling will merely be losing billions of dollars and channelling them out of the country. That is proving to be too big a loss for governments in today’s market– especially after the recession that made it difficult on the markets worldwide.

So now it is leaving online companies in a great position. The US for example is one country that is moving towards legalization and most likely going to come to some agreement within the next few months. Namely it is Senate Majority Leader Harry Reid who holds the key to legalization of gambling in the US for online gamers. He is believed to be the integral part of the puzzle who can push the market forward. Reid is a Nevada politician and is very much on the side of the state’s best interest. He has made it clear that he is focused on what will benefit his state and will make moves accordingly. Initlally Nevada gaming casinos were concerned that Reid would legalize online gambling at their expense- they would then have to share their markets with a slew of online gambling companies. They beleived that this would surely cause a deline in their revenues and pose problems for their own businesses. Reid assured that though he is in support of online gambling, he also wants to make things as fair as possible for companies already established in the land-based industry within the state. His main goal is to protect Nevada’s economy. Though it will be difficult, he most likely will find a way around the issue that protects his state. Nevada was one of the hardest-hit states when the recession occurred. It is still reeling and looking for recovery since the recession and millions of people in the state are still struggling.

Gaming in Nevada is up for serious debate. One thing that the gaming community wants to know is whether or not US Senate Majority Leader Harry Reid is in support of internet gambling or not. The reason this is such a huge question is because land-based casinos in the state are worried. Their operators are suffering financially and have been since the recession. One thing that happened as a result of the recession was people stopped gambling. That put casinos everywhere in debt and caused them to have to scramble to find new customers and ways of bringing in the millions they needed for sustaining a business. In particular Las Vegas casinos have suffered because they have one main industry—gambling. Much like Detroit, Michigan, Las Vegas suffered due to that one industry. Detroit is another city that was built on auto manufacturing. When the auto industry fell, Detroit was left with few options for revival financially. In the same way Las Vegas built its economy on gambling and when that declined, there were few other options for survival. Now, the state is still trying to recover.

Industry insiders are all waiting with baited breath on the decision Harry Reid makes regarding online gambling. Land-based gambling companies are concerned that if online gambling is approved it will infringe on their already suffering market. Plus with the outstanding gaming online companies can provide, land-based casinos may not be able to compete. It could be a substantial problem for gaming companies if Reid is a pro-online gambling representative. So far the only details that have been rumored are that Reid will support the approval of online poker, but not online gambling. He will draw the line on other games, and leave them to the world of land-based casinos in the state of Nevada. Gaming companies in the state need to know where the market is going and need to make changes to their own business models. If online poker is allowed, land-based casinos still have the chance to provide other forms of gambling games. If online gambling in general is allowed, then land-based casinos may have more problems. They need to come up with some viable ways of responding to the expansion of the gambling market in Nevada.

Internet 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.

Internet 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 the state of Nevada would be to bring legalized online gambling to the state. They say that if the state could flesh out a viable legislation to regulate it, Nevada would become a forerunner in the field. Casinos in the state already are split on the idea, however. For example, Wynn Resorts is against internet gambling claiming that it would considerably hinder its own company growth. On the other hand Harrah’s Entertainment has already made legal moves to prepare itself for internet gambling affiliations.

Regardless of what happens, it will take lawmakers time to sort through the issue of regulating online gambling within the state. Reid is left holding the bag too—he has to make a decision on the issue. Currently the issue is at the head of discussions and a decision should be coming soon.