In a report from Reuters released on Tuesday, August 6th, Nevada and New Jersey have a potential gambling compact in progress and it could be a 'done deal' as early as 2014.
MGM Resorts International CEO Jim Murren told Reuters that a joint online gaming platform is in the works as the company continues negotiations with Nevada officials
“I think it’s likely that in 2014 we’ll see a compact between New Jersey and Nevada,” Murren said. “We’ve really been focusing on Nevada’s ability to compact with other states, create more liquidity.”
Nevada's small online market — with raw numbers that prove its limited potential — is a problem according to Murren. Nevada's population of 2.759, according to the 2012 United States Census, and New Jersey's 8.856 million would mutually benefit each other in an online gambling market.
A.G. Burnett, chairman of the Nevada State Gaming Control Board, statement concurs with Murren.
“Nevada is striving to do what it can in regards to compacts,” he told Reuters. “We do not jump into the fire without having done a lot of cautious research and study into the particulars of such agreements, and that phase is nearing completion.
Murren disclosed the fact that a team has been dedicated by his company to online efforts and adds an extra edge to the possible compact between the Silver State and the Garden State. MGM has a partnership deal with bwin.party and Boyd Gaming (New Jersey's Borgata owner) to supply real-money gaming in the U.S.
“We have a big team that is preparing us on a state-by-state basis and on the states that we believe will be the most productive,” he said. “I think at least 40 of the 50 states are in some stage of debating this [online gambling] internally. The ones most visible are New Jersey, New York State, Illinois, and California.”
Nevada became the first state to launch legal, regulated real-money online poker when Ultimate Poker put cards in the air in April. Caesars is preparing to kick off WSOP.com in Nevada as well. New Jersey's industry-wide online gambling launch is set for November 26th. New Jersey's July deadline came to a close with 37 companies having applied for internet gambling licenses.