Las Vegas Review Journal – MGM Resorts International supports the legalization of online wagering in the U.S. The casino giant holds an interactive gaming license in Nevada.
But the company’s Internet presence is devoted to a free-to-play casino site that allows customers of its M Life loyalty program to earn rewards, which can be redeemed at MGM properties in Las Vegas and Mississippi.
MGM Resorts is taking a wait-and-see approach in regard to real money Internet gaming.
The business model just isn’t there yet.
Macquarie Securities gaming analyst Chad Beynon doesn’t blame MGM Resorts or any other casino company from sitting out the current Internet gambling effort in the U.S. Just three states have legalized forms of online gambling, and federal legislation — both for and against — is bottled up in Congress.
California seems to be the only state moving forward with some type of Internet poker legislation.
Nevada, which has three poker-only websites, reported less than $1 million in monthly online gaming revenue in both February and March.
New Jersey, which offers full-scale online gaming through sites operated by six Atlantic City casinos, experienced its first monthly decline in April. For the first four months of the year, online gaming has produced $43 million in New Jersey, far below most projections.
Delaware’s revenue has been inconsequential.