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U.S. based land gaming operator MGM Resorts International is reportedly taking a cautious stance on internet gambling within the state of Nevada, with the firm thinking that the state's market may be too small to invest in an online infrastructure.
Speaking to the news service Reuters, Dan D'Arrigo said, "We have to make an assessment on the cost to operate that space. We haven't ruled it out, but we haven't given it a green light either. We're not going to be the first or a pioneer from the state's perspective."
It is thought that Nevada's online poker market may only generate annual revenues of between $50 and $250 million.
In other online gambling related news, MGM also announced that it has obtained an online gaming license in the state of New Jersey. The move is substantial because annual online gambling revenues in The Garden State are expected to be in the $500 million to $1 billion range annually.
Speaking about his firm's move to obtain individual state licensing D'Arrigo said, "Our preference is for something to be done at the federal level. We're focused on these state by state initiatives, but it makes (operating) more challenging and more complicated. The opportunities are different in each state," he said. "Hopefully states will compact with one another and that will create liquidity and critical mass."