Jim Murren, CEO of MGM Resorts International, had a simple message for the various state’s and lawmakers—and not to mention the professional sports leagues—which keep saying Daily Fantasy Sports leagues aren’t gambling.
That message, you are “absolutely, utterly wrong,” said Murren.
Murren’s comments were made to reporters at a press conference in Washington recently.
“I don’t know how to run a football team but I do know how to run a casino, and this is gambling,” Murren said.
Daily fantasy sports leagues are being embraced by professional league’s and recently several states—such as Louisiana—have moved to exempt fantasy sports from gambling bans. Even the proposed Restoring of America’s Wire Act now in Congress exempts fantasy sports.
Murren said the American Gaming Association—Murren is chairman of the board for the association—is conducting an internal study on fantasy sports and sports betting.
Meanwhile, MGM has looked at offering fantasy sports at its casinos, but has not moved yet.
“We don’t know for sure how many billions are being wagered on fantasy sports—clearly it can’t be ignored,” MGM CEO Jim Murren said at an American Gaming Association briefing last week. “MGM’s perspective is that we don’t know exactly what role we should play.
“We haven’t engaged in it because we haven’t gotten comfort from our regulators,” added Murren. “We can only conduct ourselves in an industry that’s going to be highly regulated because we have huge reputational risk.”
In another matter, Murren said MGM is interested in plans to allow for the building on a new casino in New Jersey’s Meadowlands.
“The market opportunity up north is vast,” he said. “If that were to pass, MGM would be interested in pursuing it.”
MGM owns half of Atlantic City’s Borgata Hotel Casino & Spa, but still said that a northern New Jersey casino would help Atlantic City. He also said the southern New Jersey resort never prepared for the expansion of gambling in neighboring states and has been hurt, but could be stabilizing.
“The worst, I think, is behind Atlantic City,” Murren said.
No casino could be built in the Meadowlands or any other northern New Jersey site unless approved by state voters.
