According to a recent article published by the Associated Press, online poker has the potential to cause serious effects to Caesars Entertainment’s four physical (land-based) casinos in Las Vegas and Atlantic City.
In a declaration to regulators this past week, Caesars outlined their concern of online poker, and more specifically gambling as a whole, which they believe could substantially reduce visits to their premises at both locations and the potential harm this could bring to the company as a whole.
The report in question, delivered to the U.S. Securities and Exchange Commission, clarified that online poker and gambling would “compete” with their physical casinos.
“Caesars will, and other online providers do, offer online gaming options that compete with our live poker offerings in Nevada and New Jersey” the report from Caesars outlined.
“Expansion of online gaming in Nevada, the commencement and expansion of online gambling in New Jersey and the introduction of online gaming in other jurisdictions may further compete with our operations.
“Online gaming may reduce customer visitation and spend in our traditional casinos in Nevada and New Jersey, which could have an adverse impact on our business and result of operations.”
The report highlighted Harrah’s Resort, Caesars Atlantic City, Bally’s Atlantic City and the Showboat Casino as most likely to cop the brunt of online gambling, as New Jersey allows a complete online casino experience, whereas Nevada only offers online poker.
Gary Thompson, spokesperson for Caesars outlined to the Associated Press that report was vital for a number of reasons.
“There are legal reasons for including cautionary language for potential issues that, while we consider them less rather than more, likely, could impact our operations.
“While it’s a legal requirement to include such language as this among potential risk factors, our experience has been that opening new channels to reach potential new customers and offer them the benefits, among others, of our Total Rewards program, has not caused visitation declines.”
Sign up at Bovada Poker today for the best online poker experience!