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Non-Tech : Gambling, The Next Great Internet Industry

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To: Herc who wrote (516)	4/27/2001 10:49:47 AM
From: kidl	of 827

Edit STATE Friday, April 27, 2001 Internet gaming compromise reached Geoff Dornan, Capitol Bureau A compromise approved by the Assembly on Thursday opened the way to let Nevada's casinos into the lucrative Internet gaming market. Internet gambling won approval in Assembly Bill 296 but the companion measure imposing hefty fees on casinos wanting to get into the Internet business, Assembly Bill 578, failed to win the required two-thirds majority. Among the opponents were rural legislators who said the bill was designed to allow only major resorts on the Strip to get into the Internet business. After a day of meetings and compromise, lawmakers were presented with a new plan reducing the up-front fees and opening Internet gaming to more and smaller casinos. The up-front fee for an Internet gaming license was cut from $1 million for two years to $500,000. And the hefty taxes of up to 10 percent of revenues for manufacturers of the equipment needed to set up Internet gambling were cut to match the 6.25 percent gross revenue tax all major casinos now pay. Elko Republican John Carpenter told fellow assembly members those provisions and the other language were crafted to make sure rural as well as major resorts could open Internet sites. Anderson said the bill is designed to let Nevada's premier gaming establishments get into the Internet gaming market. There was testimony in his Judiciary Committee that there are some 1,400 gaming sites on the net now. Nevada gamblers want to use their prominent resort names to claim the lion's share of that business. "A vote for this bill is a vote to strengthen Nevada's position in gaming in the world," said Anderson. "A vote against this bill is a vote for unregulated, offshore gaming." The Assembly agreed to the amendment and the bill is expected to win approval today.

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