Caesars Proposes WSOP Online Poker Room in Nevada
There are literally hundreds of casinos in Nevada; major brands and small time players alike. Caesar’s Palace is certainly one of the better known names, not just because of its central Strip location, famous thematic or the sheer enormity of the establishment, but because the casino is the home of the most prestigious poker tournament across the globe – the World Series of Poker. Now Caesar’s is using its renowned girth to push for a branded WSOP online poker room in Nevada.
The Nevada Gaming Control Board has been reviewing, approving and rejecting a heap of applications for licensing. Already, 17 licenses have been granted – 12 going to casino operators and 5 to other related companies, namely online poker software providers. The stack of licenses yet to be reviewed is innumerable. Realistically speaking, Caesar’s is just another face in a massive field of wanna-be players.
A more pretentious deduction, however, would have to give Caesar’s a moderately higher outlook for overall success in such a market. There isn’t a poker player in the world who doesn’t acknowledge and appreciate the significance of the WSOP in the realm of tournament play. To possess the one and only WSOP-branded online poker site would certainly connote indubitable success. Not just success, but an automatic position on the highest rungs of the ladder.
Caesar’s has already teamed up with 888, a prominent leader in online poker software development industry. It could be a glorious union of two outstanding trademarks, except for one possible snag. Caesar’s received tentative licensing from the Nevada Gaming Control Board less than 24 hours ago, while 888’s licensing continues to hang in the balance. It is indeed likely that 888 will go on to receive approval from the board, but the length of time that could take is immeasurable, and if for any reason 888 is rejected, Caesar’s will be left back at square one.
Working in favor of the Caesar’s/888 partnership and potential branding of a WSOP online poker site is the timeframe at which the Silver State is now expecting to be able to launch it’s real-money card games to residents of Nevada. Not long ago, operators were preparing for an early 2013 launch, but due to an exacerbated completion of regulatory framework, officials are now projecting online poker to become a reality in the second half of the coming year.
While it is certain that Nevada will be the first to proffer real-money online poker on an intra-state level, it is also apparent that most operators are looking at a much bigger picture for the future. Andrew Zarnett, an expert gaming analyst with Deutsche Bank and member of the National Center for Responsible Gaming board of directors, published a recent research study in which he projects individual US states to legalize online poker in 2013.
Zarnett said that the passage of an online poker bill on a federal level is highly unlikely in the foreseeable future, thus investors need to push for regulatory licensing on a state level. He believes that once Nevada’s online poker sites go live, others will inevitably come tumbling after. “This market will fast become the economic test case for analysis of revenue size, cash flow generation and cannibalization impact as it comes on line.”
If Zarnett is correct in his conjecture – and there are plenty of acclaimed industry analysts who agree with him – this could mean top-dollar revenue for Caesar’s Palace. The recognition of the World Series of Poker name alone could be enough to draw players from all over the US to a branded WSOP online poker room.