In his keynote address given on Tuesday morning at the G2E conference in Las Vegas, American Gaming Association President and CEO Frank Fahrenkopf (pictured) told reporters there's no evidence that Las Vegas Sands front man Sheldon Adelson is actively working against the online gaming industry despite coming out vocally against it. Fahrenkopf explained, "Sheldon has been transparent and straightforward with me that it's his personal opinion and not the position of the Las Vegas Sands… He's entitled to his opinion. I've seen no evidence that he's out there working against us."Fahrenkopf also touched on the GOP platform including an anti-online gambling position. Fahrenkopf was not overly concerned about the plank, revealing, "We didn't fight it… We believe it can be helpful to us in our lobbying… The [Harry Reid and Jon Kyl] bill will make a real dent in the gambling that's going on. It strengthens the Wire Act and the UIGEA." Fahrenkopf joked that he read the GOP platform once and has no plans to read it again.
G2E is taking place at Adelson's flagship Venetian in Las Vegas. We're right next to the Blue Man Group Theater and thousands of attendees are on hand. This year, well over 400 exhibitors will take up shop in the Sands Expo Center across 262,000 square feet of floor space. It's the largest G2E show since 2008 and the second straight one to be held at the Venetian after moving over from the Las Vegas Convention Center.
Eighty-five countries have legalized online gaming. In the U.S., Fahrenkopf touched on efforts to bring the web version of gaming to life in Nevada and Delaware and called for Congress to act: "Without Congress acting quickly, we will see states legalize online gaming one by one." Fahrenkopf and others are concerned that a patchwork online gaming framework will emerge that will be less-than-optimal for consumers.
Fahrenkopf spent several minutes talking about the dangers of internet sweepstakes cafes, which he dubbed "the latest attempt to pass off a gambling product as not gambling." These cafes exist in 24 states and their revenues clipped $10 billion last year. Customers purchase phone cards loaded with credits that they use to play games like video poker and slots. "These facilities are dangerous because there are no standards or regulations in place," Fahrenkopf stated.Finally, we'll turn to the upcoming Federal election, which is now just one month away. Will Mitt Romney or Barack Obama be more amenable to gaming? Fahrenkopf admitted, "I don't think it makes a difference. Both champion states' rights."
We'll have more for you from G2E right here on PocketFives.
