MGM International’s Jim Murren on the Future of Gambling

United States government is thinking about reinstating a ban on Internet gambling.

Recent news reports indicate that the United States government is thinking about reinstating a ban on Internet gambling. MGM Resorts International’s CEO, Jim Murren, believes that banning legal digital gambling might not hurt the gambling industry as much as other casino owners believe it will. Murren also recently suggested that the legalization of sports gambling in other states might not spell the end of the world for Nevada, either.

In a recent interview, Murren expanded on his feelings about sports gambling in other states. The MGM CEO believes that gamblers will still visit Las Vegas for the NCAA Tournament every March, premiere boxing events, and the Super Bowl despite the availability of sports gambling elsewhere.

Although gambling and casinos are one of the prime reasons why gamblers come to Las Vegas, Murren also believes that gamblers and sports enthusiasts come to the city for the “Las Vegas experience.” He says that his casino has invested billions of dollars in bars, restaurants, and other attractions aimed at creating unique and memorable vacation experiences.

The Future of MGM and the Internet

In terms of the future of Internet gambling, Jim Murren acknowledges that the “Internet is here to stay.” He also says that if Congress bans legal online gambling, MGM Resorts will not suffer greatly. This is because MGM is a resort-based gambling business, not a business built around convenience gambling.

Murren expanded on this idea further, arguing that MGM’s business is not structured around the Internet driving money, revenue, or profit to the resort. Instead, MGM is focused on making gambling and sports wagering just one part of an unforgettable hospitality experience.

The Gambling Industry is at Fault

Murren also claimed that the reason why Congress is considering a ban on online gambling is that leaders in the gambling industry could not agree about how to make online gambling safe and fun for American citizens.

Online Casino Bet365 Taken To Court by Australian Regulator

United Kingdom-based casino operator Bet365 is being dragged to court by Australian Competition and Consumer Commission for breach of local consumer regulations and misleading customers. A consumer complaint was filed in the capital city of Darwin, which stated that the firm was misleading consumers, with false representations about free bets and deposit bonus.

Online Casino Bet365 sued by Australian Regulator

The Consumer Commission stated that the casino lured new players with the misnomer that they would be eligible for AUD 200 on registration. However, there were certain pre-conditions to qualify for this amount, which were not clarified in the initial advertisement nor were any declaration to that effect, were stated.

 

Details of the complaint against Bet365

The complaint stated that the service provider Bet365 did not clarify that players had to first spend AUD 200 from their own pocket and only then they would be given addition amount of AUD 200 to play. Players could withdraw their winnings only on the precondition that they have to bet thrice the sum of their deposit within a three month period which the complainant felt was close to cheating. This would mean that a person who deposited AUD 200 to start playing at Bet365 and is entitled to similar amount as bonus will have to bet around AUD 1200 more to obtain the bonus and any winnings.

 

Likely action by Australian Competition and Consumer Commission

In a statement to the local media the ACCC stated that it will look for all advertisements given out by BET365 to search for incriminating evidence of lapse of information to check if it was a calculated move by the firm to mislead customers. Since the complaint was made to ACCC, the gambling service firm has implemented required changes in its website and has now disclosed all details about membership and payout regulations and terms. The ACCC’s chairman stated that online gambling is a growing sector which has to be monitored carefully to ensure people are not cheated or misled.