Steve Wynn, the casino billionaire and chairman of Wynn Resorts has been in the news of late due to the media attention his ex-wife Elaine Wynn received after she was removed from Wynn Resort’s board of directors. The 73 year old tycoon has decided to put those events behind him and focus once again on building his casino empire around the world.
Wynn recently accepted an invitation to be a guest on a political program in Nevada called “Ralston Report”. Wynn was asked a number of sensitive questions during his interview and answered all of them directly.
One of the questions which Wynn had to answer was whether he believed online gambling should be permitted across the United States.
Wynn made it extremely clear that he is against legalizing the online gambling industry in the United States as he does not believe real money online casino games or online poker cash games should be allowed. Wynn believes that real money cash games must be played at a live casino table and his views do not come as a surprise because Wynn Resorts owns a number of casinos all over the world and would not like to lose client revenue to online gambling establishments.
Nevada legalized online poker over a year ago but the results so far have been less than impressive. Wynn states that online gaming will continue to suffer in Nevada and other states as the market is not powerful enough to generate significant revenue for Nevada. Wynn believes and supports Las Vegas Sands Chairman Sheldon Adelson’s anti-online gambling campaign and is very interested to see if Adelson’s proposal gets approved in congress.
In a statement, Wynn said
I don’t think it has any chance of getting through the House of Representatives, and even if it did, it would at the behest, at the encouragement, of the state lottery boards who want to go into that business. I am not going to get into [online gaming]. We’ll get blamed if anything goes wrong.
California and Pennsylvania are two states that are currently debating an online poker bill and could very well legalize online poker before the end of 2015. Steve Wynn will not be paying as much attention to the online casino market as he will be to some of his mega casinos that have been losing money during the last 12 months.