ALL,
Re-Posted this off Raging Bull Site. Sort of makes me want to buy much more of SNMM
>>Saturday, March 13, 1999
Copyright © Las Vegas Review-Journal
Internet gambling draws closer
A gaming consultant says major casino operators have expressed interest in Web-based wagering.
By John G. Edwards
Review-Journal
Major, land-based and publicly owned casino operations in the United States are starting to consider participation in Internet gambling, a consultant said Friday.
Two years ago, casino operators in Las Vegas wouldn't even discuss Internet gambling, said Saverio Scheri III of KPMG Peat Marwick's National Hospitality and Gaming Practice.
"They're starting to say, 'If it's starting and I can't stop it, I'd rather be part of it,' " Scheri said.
He made the comment during a seminar at the IGBE Casino Management Conference at the Las Vegas Convention Center.
He later explained that licensed operators won't get into Internet gambling, however, unless it is approved by the U.S. government. He doesn't expect companies to set up operations in Australia, where Internet gambling is legal, as a way of circumventing U.S. law.
U.S.-based companies "are watching (Internet gambling) very closely," Scheri said. "But they will not do anything to jeopardize their licenses both here and abroad," he added.
State and federal officials in the United States may decide to legalize Internet gambling as they see other countries, such as Australia, benefit economically from online gaming.
"Why not regulate it and tax it" if other countries are going to make Internet gambling legal? he asked.
It only costs about $20,000 to buy software for an Internet gambling site, he said.
Through regulation, the government could require background checks and minimum investments for online gambling site operators, he said.
Large, well-known casino operators in the United States would have more credibility for honest dealing than a small company based offshore, he said. Regulation or outside audits by a "big five" accounting firm would give these well-known operators more credibility with gamblers.
The Internet, he said, "is going to probably change the way casinos in Las Vegas and across the United States do business."
Scheri also predicted that casinos will follow the examples set by airlines and hotels and let members of player clubs check their point totals over the Internet.
He gave attendees a preview of a still-incomplete, technology survey of executives at 200 casinos around the country.
The Year 2000 problem, which stems from the use of only the last two digits of years in older computer software, remains the top concern of management information system executives, he said.
Many chief information officers report to vice presidents of finance, rather than chief executives or property general managers, he said.
The survey indicated top MIS executives typically make $75,000 to $100,000 a year at casinos, not counting bonuses, he said. The highest paid computer executives pull down more than $250,000, but $50,000 is the low end.
"Bottom line: The East Coast pays more than pretty much anywhere else in the country," Scheri said. Personal computer support workers, however, seem to be paid $35,000 to $40,000 yearly in all geographic areas of the United States.
No company dominates slot tracking and accounting systems, but each seems to serve its own niche of the gaming industry, he said.<<
If you want to go there. . . here it is:http://www.lvrj.com/lvrj_home/1999/Mar-13-Sat-1999/business/10786295.html |
