A mysterious bill has emerged in Nevada that would limit any future interstate compacts with other states to just online poker. And what’s even stranger is that billionaire casino magnate Sheldon Adelson is said to be behind the new legislation. But before we continue on this note, here’s a look at telling language from the bill:
“Existing law authorizes the Governor, upon recommendation of the Nevada Gaming Commission, to enter into agreements with certain governments to enable patrons in the signatory states to participate in interactive gaming. (NRS 463.747) This bill: provides that such agreements may only be entered into to enable patrons in the signatory states to participate in Internet poker; and defines Internet poker for such purposes.”
Why this would be damaging?
Nevada’s online gaming market has been limited to poker ever since they launched in April 2013. However, given the dismal performance of the Silver State’s online poker operation over the past several months, it would be nice if they had the option to reconsider one day. Speaking of performance, here’s a look at how iPoker revenue has been since July:
July – $1,037,000
August – $742,000
September – $693,000
October – $665,000
November – $641,000
December – $594,000
January – $582,000
February – $574,000
As can be seen, Nevada iPoker may be leveling out with the decline having slowed. But obviously the Silver State needs two things to happen now:
1) To get their interstate pact off the ground with Delaware, which will create a bit larger liquidity.
2) They should strongly consider expanding to more forms of iGaming when linking up with bigger states.
If the previously mentioned legislation does pass, then it would keep Nevada mired in the poker-only zone and make them a less-attractive partner regarding interstate compacts.
Why would Sheldon Adelson push this bill?
As many poker players already know, Sheldon Adelson is the Las Vegas Sands Chairman who’s trying to get legislation passed that would put a federal ban on all forms of U.S. iGaming. So it’s interesting that journalist Jon Ralston believes that Adelson is the one behind this proposed bill.
It’s been said many times that the 81-year-old doesn’t want to tolerate any online gaming to protect his land-based casino empire. But it isn’t so unbelievable that he might also be interested in limiting the state iGaming model to just poker. After all, this would keep online casino games out of the equation and severely limit Nevada and other states from generating much money through online gaming.
What’s more is that Adelson knows there’s a good chance he won’t be able to ban iGaming on a federal level – despite how much money he’s throwing at the matter. So he might as well take some insurance by trying to limit what can be done at the state level in the case that he continues losing the federal battle.