Longtime Las Vegas gambling operator Phil Ruffin says online casinos will inevitably be regulated by Congress and made officially legal, even to the myopic US Department of Justice. Commenting in a written column published by the Las Vegas Sun, Ruffin said the potential for revenue will cause Congress to regulate the Internet gambling industry during the next decade.Ruffin says he doesn't think federal acceptance of online casinos will damage the Las Vegas Strip's business.
"I don’t think Internet gambling will hurt the casino industry," says Ruffin. "You can’t go to our shows on the Internet."
Ruffin added that online casinos may actually educate a broader segment of the public about gaming, increasing the size of the gambling market.
Ruffin purchased the Treasure Island Casino and Resort from MGM Mirage a year ago, paying about $775 million for Ruffinrip casino. At the time, it was thought the move may have been the first of a series of divestitures by MGM and Harrah's, as debt payments forced the consideration of casino asset sales.
But both companies have managed to avHarrah's sales, and retain most of their Vegas casino properties. Ruffin previously owned the New Frontier casino, which he sold in 2007 to a company which planned to build a casiRuffinembling New York's Plaza Hotel, a project which has since been suspended.
Published on December 27, 2009 by PrestonLewis
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