Legalized Internet gambling is one step closer to becoming a reality in Vegas, as last month's Internet gambling bill has jumped through another legislative hoop. On Monday, April 16 the Nevada Assembly Judiciary Committee passed the bill after debating and approving two amendments.
The bill will head to the state Assembly later this week, then to the state Senate by April 27, and finally to Nevada governor Kenny Guinn. Providing the governor signs the bill, Net gambling could be legal in Nevada by early June of this year.
And it doesn't look like there is much standing in the way of that happening, even though Representatives are still struggling with the issue of federal rulings on online gambling. The bill had unanimous support of the Committee and the endorsement of the overwhelming majority of state senators. There is a bit of urgency behind the process, however, as the state legislature won't meet again until 2003.
Assemblywoman Merle Berman, who sponsored the bill, said Net gambling could bring an additional $5 billion into Nevada casinos every year. But that doesn't mean online gambling will come cheap. The bill proposes a $1 million licensing fee for two years, along with a $100,000 application fee and the state's 6.25% gaming tax on winnings. Interestingly, the same legislation will also make Internet gambling debts enforceable.
There has been some opposition to the bill from slot machine manufacturers, who would have to pay a licensing fee between $50,000 and $250,000 if they produce online gaming software or equipment.
Smaller casinos in rural areas are also concerned about being shut out by the high cost of licensing, but lawmakers have said that this may be one way to control the number of licensees.
Gaming officials are speculating that it may be 18 to 24 months before the first online gambling license is issued - assuming that the legislation doesn't hit any unexpected bumps in the road over the next few weeks.
Back to Top
Digg
Del.icio.us
Reddit
StumbleUpon
