Lawmakers vote to ban betting at kiosks at Nevada bars and taverns
The Nevada Legislature voted unanimously to ban betting booths at bars and taverns in the state, as well as any other establishment with a limited gambling license. The 41-0 vote showed support for the casino industry, which certainly doesn't want neighborhood rivalry. The new gambling measure, Senate Bill 416, has now passed both state legislatures and is headed to Nevada Gov. Brian Sandoval for approval; John Hancock’s approval of the bill Substantial certainty will ensure that the bill comes into effect on July 1 this year.
William Hill is one of the companies affected
Major sportsbooks such as William Hill and Cantor Gaming would be affected by the new bill, as both companies have betting kiosks in bars and taverns across Nevada; in fact, William Hill has 84 such kiosks in total. Needless to say, the news was not well received by them.
"We are disappointed that the Nevada Legislature passed this bill," William Hill Las Vegas said in a statement. "As technology continues to advance, Nevada is now taking a giant step backwards... The kiosks comply with [Nevada Gaming Control Board] regulations and [they] approved the installation of each kiosk.”
"We invested significant money and resources under these regulations, only to later discover that the rules had changed. We are exploring our options, but most importantly, we regret the inconvenience this has caused our loyal customers." Not to mention the gap this will create in their revenue stream.
William Hill's kiosks are primarily located at local establishments such as PT's Pubs, Buffalo Wild Wings and more. They have not yet said whether they will go to court to overturn the bill.
Cantor Gaming, the Las Vegas-based unit of Cantor Fitzgerald LP, did not comment on the results.
NRA supports new measures
The new bill is supported by the Nevada Resort Association (NRA), a lobbying group representing casino and hotel interests in the state. The company's official position is that sports betting kiosks exceed the limits of venues with restricted gaming licenses, which are only allowed by law to have a maximum of 15 slot machines. Therefore, the NRA believes that sports kiosks should never be allowed to compete with fully licensed establishments such as casinos.
While sales losses from William Hill et al. That's certainly a no-brainer, but that doesn't represent a huge loss for Nevada gaming itself; all told, the Silver State's sports betting booth revenue in 2012 was $600,000, which is equivalent to the revenue per kiosk of Nevada's $170 million in total gaming revenue That's about $7,142, giving the casino a total win rate of 4.9% on $3.4 billion in bets.
Read also:
- Crown Casino not liable for Kakawas gambling losses, court rules
- Pennsylvania fines two online gambling licensees for prohibited business practices
- Not just for gambling anymore: Atlantic City aims for 'destination resort' status
- Betsson acquires Europe-Bet for $50 million
Source: www.casino.org
