CASINO

Nevada Committee hears from Murren and Ryan; Caesars lose tax fight; Aristocrat set up in Montana

TAGs: Aristocrat Technologies, Brian Sandoval, bwinparty, Caesars Entertainment, Jim Ryan, MGM Resorts, Montana, Nevada

USA flag 1Nevada Gaming Policy Committee’s latest meeting heard that they must stay vigilant to ensure the state’s online gaming industry remains secure. James Elste, principal for INOV8V CyberCQRT, an online security firm, told the committee that if his company gets a grant they will develop the “gold standard for Internet gambling security”, according to a report in the Las Vegas Sun. The committee, meeting for the second time since being revamped by Gov. Brian Sandoval, next heard from bwin.party co-CEO Jim Ryan. He told them how easy it still is to sign up for an account using a foreign card at a U.S. hotel. Of course if they get a licence bwin.party’s system would come to the rescue and you’d expect no less from a firm that has been operating in the European market for a number of years.

Jim Murren, CEO of MGM Resorts, was another to speak at the committee and recommended that Nevada amend the cost and length of licences. To remain competitive against other states he’d extend the licence period from two years to five years and consider reducing the $500,000 application fee and $250,000 annual fee.

Lastly, Anna Thornley, senior research specialist at the Board, explained that Delaware, Rhode Island and West Virginia could conceivably have intrastate poker up and running by the Q2 2013 if federal government gives its approval. The committee is likely to meet twice more before the state licences the first two companies in June and July

Caesars Entertainment has lost its fight to get a refund of $31 million on certain taxes it paid on complimentary meals. The Nevada Tax Commission ruled in favor of an administrative law judge that stated Caesars wasn’t eligible for a refund on the meals given to both gamblers and employees. It relates to a Nevada Supreme Court decision in 2008 that said a “use” tax could no longer be imposed on the meals provided to players and this should be replaced with a “sales” tax. Commission Chairman Bob Barengo told the Caesars lawyer Norman Azevedo that he thinks the firm “will want to appeal” and there is a widely held view the casinos deserve this after an “easy ride” for some time. Maybe they should look at how Vegas is faring against Macau

Aristocrat Technologies has signed a VLT distrbution deal to roll out its product in Montana. It sees the company team up with Grand Vision Gaming (GVG) and means they’ll have access to venues that already feature GVG’s devices. One of the first games to be distributed will be Aristocrat’s Player’s World Reels – a product exclusive to the Montana VLT market. GVG owns 32 percent of the state’s 16,000 machines and it gives Aristocrat an immediate foothold in the state.

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