Nevada Poker Bill Signed into Law

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Nevada became the first state in the USA to authorize interactive gaming after Governor Brian Sandoval signed Assembly Bill 114 into law earlier in the day, removing previous restrictions that required federal approval for interstate online poker compacts. This effectively allows online poker across state lines.

The law also places a 5-year restriction on companies that operated online poker in the U.S. after UIGEA was passed in 2006 called the “bad actor” provision. This provision effectively keeps market leader PokerStars out of the Silver State and puts competition at a more even playing field for everyone else applying for a license.

While the fee for a gaming license will be $500,000, a license renewal would cost $250,000.

Assembly Majority Leader William Horne, D-Las Vegas, estimated that online gaming could bring in $3 million in tax revenue to the state.

The gambling bill was rushed through by the Nevada Legislature in a race to beat New Jersey as the US online gambling hub. It passed the both houses of the Legislature unanimously.

 

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