Steve Wynn, the renowned businessman credited with holding a pivotal role in the revival of the Law Vegas strip, is rumored to be actively working to expand into internet gambling in New Jersey.
Wynn, responsible for such enterprises as the Golden Nugget, The Mirage, Bellagio and Wynn, is one of the best-known figures in the gambling industry. Wynn is celebrated for creating unique gambling establishments such as The Mirage, a South Seas’ themed casino famous for its erupting volcano. The dancing ‘Fountains of Bellagio’ draw visitors to witness the shooting fountains that are choreographed to music. Wynn just applied for an online gambling license in New Jersey, drawing speculation that he is attempting to get in on the ground floor of the New Jersey online gambling business.
New Jersey’s Atlantic City has reported steady declines in income and jobs for the past several years, presumably due to the availability of online gambling in other states. With the signing of the bill legalizing internet gambling, New Jersey should see an increase in tax revenue on the online gambling profits. In addition, the passage of the bill should energize Atlantic City casinos and increase casino jobs. Gamblers must register at an Atlantic City casino in order to participate in the planned online gambling. Other states that have legalized internet gambling include Delaware, Louisiana and Nevada.
The Atlantic City casinos must choose an online gaming company to manage the wagers between the casinos and internet gamblers. There are currently 12 casinos in Atlantic City. As of August 8, nine had announced the online gaming companies they had negotiated contracts with; the other three casinos have not yet announced their online gambling partners. Wynn formerly owned one of the casinos in Atlantic City, originally called the Golden Nugget. He does not own any of the casinos in Atlantic City at present, which makes his move to obtain an online gambling license odd, to say the least: New Jersey’s gambling regulations only issue online operator licenses to businesses that own physical casinos in Atlantic City.
Speculation will continue until an announcement is made that explains Wynn’s move to apply for an online gambling license.