Wynn: Regulating Online Poker Will Be Tough

Las Vegas gambling giant Steve Wynn sat down recently with the Las Vegas Review-Journal, and spoke candidly on his thoughts about legalizing online poker and his relationship with PokerStars.

'Online poker tough, but not impossible'

Most notably, the chairman of Wynn Resorts, who has been an opponent for online gaming for many years, said that he believes it will still be tough to regulate online poker, although not impossible.

"What happens if the government gets involved and they control it and interfere with our ability to run a business? If they do Internet poker, they are going to tax the hell out of it," said Wynn, who added that he doesn't think Republicans in Congress will support efforts to legalize online poker in any case.

The interview was particularly informative because Wynn is known for having good contacts on both sides of politics.

PokerStars the '800-pound gorilla'

Wynn also talked at length about PokerStars, one of three online poker companies named in US prosecutors' Black Friday indictment last month, and a company with which he created a joint venture - PokerStarsWynn.com - in March, and which he then terminated in April following the indictment.

Wynn said he only agreed to work with PokerStars after some persuasion, but later became impressed by how the company was strictly regulated in Europe and by its ability to trace website abnormalities and to block underage gambling.

Calling PokerStars and '800-pound gorilla' because of its business growth in the US prior to April 15, he said that online poker needs regulation. "People kept drinking beer during prohibition. Poker is as American as apple pie. They are not going to stop playing online poker," he said.