Each Atlantic City casino will be able to offer Las Vegas-style sports betting if the U.S. Supreme Court sides with New Jersey in 2018.(Photo: Chris Pedota/northjersey.com)
Nevada’s gaming industry might be cashing in on marijuana despite the industry’s concerns.
Governor Brian Sandoval announced Wednesday morning that he signed an executive order directing the state’s Gaming Policy Committee to discuss and recommend policy on how casinos should work with marijuana businesses.
“Gaming regulators have been clear on the prohibition of marijuana consumption on licensed gaming properties, but there are additional policy considerations such as industry events and business relationships that should be contemplated,” Sandoval said.
The 12-member committee, which Sandoval is a member of, will discuss whether gaming establishments can exchange money with marijuana businesses and whether they can host events that promote the sale, cultivation or distribution of marijuana.
“This is not about smoking marijuana at casinos, this is business. This is business conventions. This is money. This is where they can talk about insurance for dispensaries at a convention, or security. It’s one thing to sell marijuana at a casino, but it’s another to just talk business,” said Sen. Tick Segerblom, D-Las Vegas, a member of the Gaming Policy Committee. “Las Vegas could be the capital for these conventions, and Reno.”
Casinos, which will continue to prohibit marijuana consumption on their properties, have been faced with a number of “grey area” scenarios since recreational marijuana became legal on Jan. 1 in Nevada.
“I was receiving a large number of calls by licensees and others,” said Tony Alamo, chairman of the Nevada Gaming Commission, which creates many of the state’s gaming policies.
The mere discussion of marijuana at an event makes some licensed gaming establishments nervous, largely because of direction they received dating back to 2014, just before medical marijuana became available in Nevada.
“We told licenses stay away from marijuana, you could be involved in federal violations,” said A.G. Burnett, chairman of the Gaming Control Board, which regulates the industry in Nevada. “There were a number of gaming licensees that wanted to get involved, and we had everyone clear until the 2017 legislative session. We had maneuvered and guided the industry, but with the advent of recreational, it’s a different game.”
In the past year, industry leaders have asked regulators primarily whether they’re allowed to accept money from a business that deals with marijuana, and whether they’re allowed to invest in the marijuana industry. They’re fearful that they could be faced with money laundering charges, considering that marijuana is still prohibited on a federal level, Burnett said.
“We need some action – one way or another – from the federal government,” he said. “Knowing what we’re supposed to enforce would be helpful. It’s not been easy. We’ve had to have a lot of discussion. We’ve really dealt with it intently. The Gaming Policy Committee, though, it’s an excellent tool and should prove helpful to the conversation.”
credit:420intel.com
