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Yet another major casino company has announced a partnership with an already existing online poker group.
Casino operators MGM Resorts International and Boyd Gaming Corp. have teamed up with Bwin.party to prepare to offer Internet gambling. Bwin.party is the largest Web betting firm worldwide, comprising of PartyPoker, the 2nd biggest Internet card room, and Bwin, the largest Web sportsbook. The combined company’s net revenue last year was 814 million euros.
Bwin.party's co-CEO, Jim Ryan, told The Associated Press that his company, which owns the World Poker Tour, has been hoping to return to the U.S. Bwin.party stopped offering online poker here after a 2006 law made it illegal to for banks to process funds for the activity.
"We have been putting in place the foundation, if you will, to re-enter the market," Ryan said.
MGM Resorts CEO Jim Murren said it will be important to have tough new online poker laws because companies that now offer poker online to Americans have hurt the entire gambling industry's reputation.
"Whenever there's a problem anywhere, it reflects poorly on the gaming industry, of which we are a major player," Murren said. "The federal government needs to address this. It cannot wish it away."
Ryan said he thought his company did the right thing in leaving, even as the other operators appeared to flourish.
"Did we sit back and watch in envy and knowing full well that we (had) had 50 percent of the market at that point? Perhaps, but we never questioned our decision," he said.
While the companies are pushing for legislation at the federal level, they would still pursue their efforts should individual states opt to legalize online poker. New Jersey and California are two states that have aggressively pursued the option over the past several months.
The MGM, Boyd announcement comes after other casino operators announced their intent to start offering online poker for real money should the activity become legal in the US. South Point Casino, which is based in Las Vegas, has already opened the first play-for-free poker site while Stations Casino announced a partnership with an i-Gaming software provider last week. Donald Trump also announced his firm was looking into offering online gambling should legalization occur.
- Chris Costigan, Gambling911.com Publisher
