BREAKING NEWS

Nevada lawmakers on Monday passed historic legislation that paves the way for legalized online gambling in the state.

The bill, which had been making its way through the state legislature over recent weeks, was caught last week in a legislative roadblock that threatened to kill the initiative. But hard work by its supporters and an effort to join the bill with another piece of legislature ultimately proved successful.

Senators voted 17-4 in favor of the Internet wagering measure, which had been attached to a work card bill for gaming employees to ensure its success. The bill then moved on to the governor's office, where Governor Kenny Guinn is expected to give it the final stamp of approval in the next few days.

Opponents of the bill argued that the $500,000 licensing fees would prevent smaller casinos from entering the lucrative online gaming market. But supporters claim that the high price of entry will ensure that only reputable companies launch Internet gaming ventures.

Proponents of the bill have long argued that Nevada has a duty to lead the way in the growing field of online gaming. Bill Bible, president of the Nevada Resort Association, noted that, "The important thing is that [the bill] maintains Nevada's leadership in legalized gaming throughout the world."

This does not open the doors for the immediate launch of online casinos, however. The Nevada Gaming Commission must now draft and adopt a strict set of regulations before it was even in a position to offer Internet gambling licenses. That process could take anywhere from 18 to 24 months.

The state will also have to deal with the U.S. Department of Justice, which views online wagering as illegal. Brick-and-mortar casinos wanting to cash in on the highly lucrative online gaming market will likely challenge that position, however.

Stay tuned to WINNERonline.com for reactions from the interested parties as this story continues to develop.

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