bwin.party has officially made its application for a Nevada Internet Gaming License in preparation for legalized intrastate online gaming. The move surprises few, as bwin.party made its intentions clear last November by entering into a partnership with MGM Resorts International and Boyd Gaming. The agreement stipulates that bwin.party would provide the network and software on top of which the brick-and-mortar businesses can run their own skins to provide intra-state online poker. The CEO of bwin.party has gone on record recently expressing optimism about US poker legalization.
The application to the Nevada Gaming Control Board for an internet gaming licenses costs an upfront fee of $250,000, along with the requirement that the operator must keep behind enough capital to pay for compliance inspections. The regulations necessitate that licensed gaming providers must take steps to prevent minors from gambling (minimum age 21 years), must prevent poker bots from being allowed on to the site, and keep hand histories for a minimum of 5 years. Gaming operators based outside the US must be in a business partnership with a licensed Nevada casino in order to qualify for an application.
Bwin and PartyGaming merged in 2011 to become the largest online gaming company in the world, so it is not surprising that the company would be making preparations to re-enter a lucrative US market. Party Poker, when it ceased US operations in November 2006 following the passing of UIGEA, was the poker room with the largest US market share, and as bwin.party CEO Jim Ryan said, “despite not having advertised in the market for over five years, PartyPoker [is still] No. 3” in brand recognition, based on a customer poll.
With other significant names like Golden Nugget making their applications for licenses, and other companies like Spielo International, St. Minver and Boss Media looking for prospective online poker providers to form partnerships with, the momentum is building for poker legislation in the US, which is very welcome news for poker fans.