Issue 57
October 8 - October 15, 2001
Volume 2
page 2
 

Industry split on U.S. online gaming

LAS VEGAS, (Reuters) - Internet gambling was the central and most hotly debated topic at a major gathering of U.S. casino executives this week, with supporters promoting the opportunities while opponents cautioned that legal and technical challenges may prove insurmountable..

At the heart of the matter, the legality of online gambling in the United States is still unclear, as the nation's courts and Congress debate the issue.

One legislative drive that would prohibit credit card companies from being used for online gaming has stalled in the Congress in the wake of the Sept. 11 air attacks that left thousands dead in New York and Washington.

Meanwhile, a court ruling that current federal law does not prohibit online gambling, except for sports betting, is now under appeal in a case that could go all the way to the U.S. Supreme Court, industry analysts said.

In a bid to position itself for the new form of gaming, Nevada -- the nation's top gambling state -- passed laws earlier this year designed to create a framework for regulating the activity if and when it is determined to be legal.

Meanwhile, MGM Mirage emerged among its peers as the biggest booster for online gambling last month when it won one of three offshore gaming licenses being granted by the Isle of Man off the coast of Britain. Such licenses are necessary because the few countries that issue them provide the land base for online gaming operations.

 

Meanwhile, a panel of Internet gaming experts said that Internet gambling is inevitable in the United States, and that major U.S. gaming companies risk missing the boat if they do not act decisively soon.

"There is no way that prohibition is going to work,'' said Frank Catania, a former director of gaming enforcement from New Jersey. "It is not going to happen."

 

Mandalay Resort Group Cuts Jobs - LAS VEGAS, NV -- Casino operator Mandalay Resort Group announced September 28 it was cutting 4,500 jobs, about 15 percent of its work force in Nevada, because of the Sept. 11 terrorist attacks. The company's top 100 executives also agreed to reduce their salaries by a total of $5 million.

Mandalay Resort Group owns and operates 11 properties in Nevada: Mandalay Bay, Luxor, Excalibur, Circus Circus, and Slots-A-Fun in Las Vegas; Circus Circus-Reno; Colorado Belle and Edgewater in Laughlin; Gold Strike and Nevada Landing in Jean and Railroad Pass in Henderson.

Desert Passage Open for Business as Usual Despite Aladdin Reorganization - LAS VEGAS, NV - Desert Passage�, one of the premier shopping and dining destinations on the Las Vegas Strip, will continue to be open for business as usual despite the Chapter 11 filing by the Aladdin Resort & Casino on September 28, said Andrew Blair, Executive Vice President and Chief Operating Officer of TrizecHahn Development Corporation.

Desert Passage, which ranks as one of the most popular malls in the country with nearly 50,000 visitors a day, is owned, financed and operated independently from the Aladdin Resort & Casino. Desert Passage's 130 shops and restaurants offer a unique combination of scenic storefronts, indoor rainstorms, street performers and breadth of selection, including a number of retailers found nowhere else in Las Vegas. Desert Passage was developed and is managed by TrizecHahn Development Corporation, the retail entertainment division of one of the largest public real estate companies in North America..

Despite the Aladdin's challenges since reopening last year, Desert Passage has had a strong first year in business, Blair said.

Gloria Estefan


Gloria Estefan is coming to the Mandalay Bay Events Center for one show on November 3.

SHOWTIME: Nov. 3, 2001 at 9 pm

TICKETS: $50.00, $95.00, $125.00, $150.00 plus tax

For more information please call
(702) 632-7580 (877) 632-7400
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