The Nevada Gaming Commission Control Board has approved a new measure which will be applied to all Casino's and Gambling facilities, beginning January 1, 2009. This measure was in response to the recent financial crisis which is hitting Las Vegas and Reno particularly hard. There are several controversial items within the Cushion measure which have raised major opposition from Casino owners. Peter Bernard, Chairman of the Nevada Gaming Commission, responded with the age-old saying "Desperate times call for desperate measures". These are several of the 'desperate' measures:
- Casino's, and any gambling institutions, are required to provide each occupant a minimum of $50 to begin play. "This allows all those who want to gamble, the opportunity." said Bernard. "We don't want to exclude or discriminate anyone who is willing to participate." It also provides an opportunity to finance any spending above the initial $50.
- If a gamer loses everything, he is considered a "bankrupted player", his debt is wiped clean and he is extended another $50 to try again. A player can be considered 'bankrupt' up to three times, then he will no longer be eligible for the $50 beginning bonus, but he is allowed to try again in another establishment. Peter Bernard would like the slogan for Las Vegas to be changed to "Failure is not an option in Vegas".
- If a gamer is considered a "successful player", meaning he has made more than what he has put into the game, he will be taxed on his earnings. The tax will begin at 60%, and will gradually escalate as the earnings get higher. Half of the collected tax will be used to break even the "bankrupted player's" losses, while the other half will be collected by the Nevada Gaming Commission, who has sole authority to determine where the remaining money is spent.
The Nevada Gaming Commission felt that these measures among more, which are included in the Gambling Cushion guidelines, are necessary to level the playing field and remove the risk. Dennis K. Neilander, Chairman of the Gaming Control Board feels that when there is risk, there will be losers. "Gambling in Nevada always had it's risks. That is what we're trying to eliminate. Sure, some players may win. But at the end of the day, there are losers, and we just can't let them leave Nevada feeling like that."
4 comments:
Lame lame lame. I can't believe it! That is about the stupidest thing I've ever heard!
You should submit this to The Onion. This sounds like it came directly from one of their columns!
Funny stuff!
This isn't a real story is it? Please tell me you are using humor.
It is the stupidest thing I've ever heard. Although untrue regarding the gamblers, this is EXACTLY what the govt has been doing for the financial sector and now for the 'Big 3'. It is the same principle applied to a ridiculous industry, which shows how ridiculous a principle it is! Business involves risk, HUGE risk! These 'high rollers' have been overcome with the greed and the 'possibility' of a big score, but have now lost everything. And we are supposed to bail them out. If you think of them as big gamblers, which in essence they are, you wouldn't in a million years dream of giving them more money!
Is there a difference between the two? Gamblers and AIG or GM?
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