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Casino Execs: Entry into Internet Gaming Should be Delayed25 May 2001ATLANTIC CITY, New Jersey –— As reported by the Las Vegas Review-Journal: "Executives for two of the world's largest casino companies said Thursday it's time to put the brakes on the industry's move toward Internet gambling even though both of their companies operate Web sites where customers can wager for prizes rather than money. "The casino industry must guard against pursuing short-term gains that may create long-term image problems, said Park Place Entertainment Chief Executive Officer Tom Gallagher and Harrah's Entertainment Chairman Phil Satre. "Technology and security have not yet caught up with the Internet to provide effective gambling regulation, Gallagher said. "…Satre noted that while studies at the Harvard School of Addiction show problem gamblers make up one-half of 1 percent of the U.S. population, casino opponents exaggerate the figure to 2 or 3 percent. "But more significantly, Satre said, Harrah's surveys indicate the general public believes the problem gambling figure is 15 or 16 percent. "…Gallagher and Satre cautioned that the political and social strides made by the casino industry in the last 10 years to improve its image could be lost if it pushes aggressively into the Internet market. "Their comments contrast with those of MGM Mirage Chairman Terry Lanni, who has become an outspoken advocate for the casino industry's expansion onto the Web…" |