The rules on the exclusive casino gaming salons in Nevada have changed, as the Nevada Gaming Commission has approved the first major update for these places in almost two decades.
Previously, the financial criteria for being able to be a primary patron to a gaming salon have been a money deposit of at least $300,000, or a $300,000 line of credit, or a combination of the two.
It was in 2008 when Nevada regulators lowered the previous requirement of $500,000 to $300,000. At the time, five Strip casinos offered high-roller rooms that could be closed to the general public. The salons are akin to private gambling rooms within a casino and have long been referred to as playgrounds for rich gamblers and celebrities.
Now, the approval has been given to lower the entry amount all the way down to $20,000. The salons could also be opened to members of the public for a short time period too, while also allowing patrons of the salon to stay longer.
Will changes to gaming salons help Nevada remain competitive?
Within the changes, casinos could have greater control over slot machine minimums as well, which would remove the previous $500-per-spin rule.
This comes after it was reported in December that some resorts had approached regulators to discuss possibly amending the salon rules in an effort to encourage more play. These discussions have since been ongoing for some time, with the Nevada Gaming Control board having run a workshop meeting in August to discuss the changes.
There have been some back and forth in the industry about the changes, with it being reported in the Las Vegas Review Journal that The Resort Association initially suggested the amounts of entry to be determined by individual properties.
It has been suggested that these changes would maintain Nevada’s competitiveness, with this being a time where many states in the US now have legalized gambling.
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The post Nevada gives green light for major gaming salons update appeared first on ReadWrite.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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