Through a recently announced agreement, Virtgame.Com Corp. has become the latest interactive gaming company to take a shot at bringing closed-loop, at-home sports betting to Nevada residents.
The company announced Tuesday that Coast Resorts, Inc. has signed a letter of intent requesting that Virtgame.Com provide an intranet sports book system exclusively for Nevada residents. The system will permit individuals, who are physically within the state of Nevada, to place wagers over a closed-loop intranet system by accessing the Coast Resorts intranet web site, reviewing the menu of wagers and entering their game selection and the amount of wager simply by clicking the mouse.
Coast Resorts operates three casinos in Las Vegas: the Barbary Coast, the Gold Coast and The Orleans. The Suncoast, a fourth casino, is due to open in the fall of the year 2000.
Virtgame.Com has developed an international gaming software solution for the gaming industry. Pending approval of the Nevada State Gaming Commission, the company will provide the technology and utilize its existing software platform that it has developed and operated for the past 18 months at www.virtsports.com for non-U.S. residents. The company expects the service to be operational by the end of first quarter of year 2000.
Virtgame.Com Chairman Leo I. George says the company is already in talks with other land-based gaming companies to provide them with various Internet gaming solutions. "We are well positioned to become a leading provider of Internet application software to the gaming industry," George said. "Our technology can identify the geographical location of a customer and can make Internet gaming become a state-by-state issue."
A similar agreement was signed between Youbet.com and Station Casinos in June 1999. The two companies formed a 50/50 joint venture in which Youbet.com will provide Station with closed-loop sports betting as well as pari-mutuel wagering. That deal also awaits the Commission's approval.