Harrah's Surveying European Poker Sector
Published: Thursday, November 15, 2007 Online-Casinos.com
HARRAH'S SURVEYING EUROPEAN ONLINE POKER SECTOR
Legality and acceptance attractive to U.S. land gambling group
Could U.S. land gambling giant Harrah's be an online gambling competitor in Europe soon? It appears to be a possibility according to CEO Gary Loveman who revealed this week that his company is taking a close look at entering the European online poker market, possibly to extend the reach of its global World Series of Poker brand through online satellite tournaments.
According to the Associated Press news agency, Loveman made the comment at the Global Gaming Expo, the largest trade show of the year for the North American casino industry currently running in Las Vegas.
Legal restrictions in the United States prohibit banks and payment processors from handling cash transactions from U.S.-based players to and from online poker sites, but Internet gambling businesses are treated in a more logical and sensible manner in other countries, the report points out.
Loveman said: "If you take a look at the legal landscape in continental Europe and the United Kingdom, there are countries where it's demonstrably legal and there's absolutely no encumbrance. Those are areas that are very attractive to us."
Harrah's Entertainment spokesman Gary Thompson revealed that Harrah's is studying the market and legal conditions before deciding whether to continue with an online European venture. It would not enter the online poker market "where there are any gray areas," he said.
Harrah's bought the rights to the World Series of Poker in 2004, and it is the international game's pinnacle event of the year. However attendance in 2007 was hurt because many online poker sites didn't give out $10 000 and more prize packages to U.S. residents due to the prevailing legal climate.
Partnering with UK online gambling group Betfair, Harrah's recently completed a World Series of Poker Europe tournament in England.
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