Known to be one of the largest online gaming operators on the planet, GVC Holdings has built quite a reputation for itself in a number of regulated online gambling markets. The gaming company which owns the resurgent PartyPoker brand now has its sights set on Nevada where it is set to receive an online gambling license that will allow it to launch online poker operations in the state.
This was partly confirmed on May 8 when the Nevada Gaming Control Board (NGCB) recommended the approval of a provisional license for the gaming company – this recommendation included a request to offer internet poker, which is referred to as “Interactive Gaming” in the state. Now, the Nevada Gaming Commission is expected to approve the license on May 23 and if approved the GVC Holdings will be required to provide a $100,000 fee to the board. The money will be used by the board to cover the costs of further regulatory investigations. GVC Holdings will also be required to the gaming commission every two years to seek the extension of its operating licenses in the country.
The Nevada Gaming Commission (NGC) is the state body that is tasked with administering regulations and granting gaming licenses to qualified gaming operators. At the hearing, the NGC is expected to take the NGCB’s recommendations into consideration before making the decision.
Unsurprisingly, within just a day of receiving the NGCB’s recommendation, GVC Holdings’ PartyPoker LIVE brand announced that it would be heading to the United States for the very first time with a $5 million guaranteed MILLIONS Vegas “Special Edition” tournament. This prestigious poker tour is set to make a stop at the ARIA Resort & Casino from June 28 to July 2 just a short while before the start of the 50th anniversary of the highly-acclaimed World Series of Poker (WSOP).
It is quite puzzling that GVC Holding opted to apply for an online poker license in the state especially considering the fact that it has been well over six years since the state of Nevada launched its online poker market – the market is rather small which implies that there is very little benefit that the company stands to gain by launching an online poker room.
Well, perhaps this is a long-term investment by GVC Holdings which could pay off in case the new interpretation of the 1961 Wire Act is reversed by the courts of law. This would mean that the state will be able to join the Multi-State Internet Gaming Agreement (MSIGA) which allow online poker operators in states with legal online poker industries to merge their player pools. In essence, share liquidity player pools allow the operators to offer a wider selection of games as well as bigger tournament prize pools – this, in turn, will translate to increased volume of traffic on GVC Holdings’ platforms.