BUSINESS

Loveman calls for Federal legislation

TAGs: Black Friday, Caesars Entertainment, Gary Loveman

After publishing a good set of losses earlier this week and announcing plans for diversification outside the gambling industry, Caesars Entertainment are understandably happy with themselves. During CEO Gary Loveman’s post results conference call amongst the champagne and celebratory strippers, he gave his views on an issue that is extremely pertinent right now – online poker in the US.

His introductory remarks supported the legalization and regulation of online poker at the federal level. Las Vegas Review Journal carried the comments from Loveman and they were as forthright as the CEO has ever been.

He said, “In an industry where breakthroughs and our ability to serve new customers come episodically, the movement of our brands online represents the next great phase of development for Caesars.

“Much like we observed in Prohibition, attempts to ban Americans from playing poker online have clearly failed. It’s time for Congress to legalize online poker.”

This is proof, if anyone needed it, that Loveman actually really freakin’ enjoyed Black Friday. Late April saw the CEO have a veritable orgasm over the phrase “only federal regulation can.” He also cited the events of that day as an “opportunity” that “legitimate” gaming outfits and the federal government have to “seize the moment.” Where all this talk when you guys fired an expensively assembled torpedo into New Jersey’s intrastate-poker plan?

Missing the boat in Macau is something that the company is obviously still ruing and any chance to get a step ahead of that region, Loveman seems to jump at with arms wide. With Federal legislation some way off, Loveman continually coming out to champion its cause might not be the best move.

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