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MGM CHIEF OUTLINES ONLINE GAMBLING PLANS
04th November, 2011 at 01:56:26
Murren voices support for legalised online gambling in third quarter report
Thursday saw the CEO of US land gambling giant MGM delivering the group's third quarter 2011 results...and he had positive comments to make regarding current internet gambling legalisation moves and the company's positioning to best take advantage of developments.
Murren discussed the recently signed deal with Bwin.party digital and Boyd Gaming (see previous reports) targeting a legalised online poker market in the United States, and talked about the progress in Congress of federal legalisation moves, which he said his company supports.
"Back here at home, as you know, the USA Congress is considering proposals that could lead to the legalization and regulation of online poker," Murren told media and shareholders. "We support this effort as it clearly would safeguard consumers.
"In preparation for this potential legislation, we announced an agreement earlier this week with bwin.party and with Boyd Gaming to jointly offer online poker in the United States.
"We feel that the technology has matured to a point where Internet poker can be appropriately regulated. The agreement will bring both companies' strong brands to the online poker platform that we believe is safe, secure and fair.
"This business is going to be about scale and the global brand names, and we believe that this partnership gives us the best opportunity to fully capitalize on this potential market."
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