DES MOINES ? A new study by the Iowa Racing and Gaming Commission projects an intrastate online poker operator could expect to make between $13 million to $60 million yearly if the Legislature and Gov. Terry Branstad choose to legalize the activity that regulators and gaming industry officials believe is currently going on unregulated in Iowa.
That level of new gaming activity could generate a potential boost in the state?s gambling revenue of $3 million to $13 million annually if one or more online poker operators paid roughly the same level of tax on profits currently assessed to most of the state-licensed riverboats and racetrack-casinos. However, the study indicated the tax rate might be adjusted to reflect that an online operation would not have the same costs associated with operating a ?bricks-and-mortar? casino, according to the 106-page report issued Thursday.
Projections from several models used in the commission?s research estimated the number of online poker players in a range from 34,500 up to 172,500, although the study conceded the assumptions were based on a small number of forecasts from which researchers applied a 1 percent estimate for Iowa-related activity given that the state?s 3 million population is about 1 percent of the nation?s 300 million residents.
Gambling industry officials contended last session that estimated 150,000 Iowa players already are engaging in online poker via illegal offshore operations. Commission staff attempted to verify that claim and another estimate that the illegal activity would result in up to $35 million in yearly tax revenue in the state if lawmakers brought it under state regulation, but was unable to get corroborating data from industry officials who did not want to divulge proprietary information.
?The estimates vary greatly in range mostly due to two key elements: the current state of internet poker is illegal and, as such, determining the current market size is extremely difficult, and the quantity of assumptions made by each study in order to form a basis for their calculations is high,? according to the report requested by the Legislature.
?The level of current play and projected market play for an intrastate product in Iowa varies but all assumptions agree that illegal play is currently happening and that a portion of that play along with new interest would support a legal network,? the report stated.
Commission staff provided information on several models that might be considered if lawmakers decided to legalize online poker within Iowa?s borders, but also cited challenges in verifying the ages of players and their physical locations and provided potentials methods to address possible problems areas.
Ketterer said the report was intended to frame the possible regulatory structure and safeguards the commission would use should lawmakers decide to allow intrastate online poker games. The report did not include a recommendation whether the activity should be legalized in Iowa.
Commission Administrator Jack Ketterer said the report would be forwarded to state lawmakers to use in their deliberations if the issue of legalizing online poker in Iowa comes before them during the 2012 session that starts next month.
?Our goal was fact finding and information gathering that could help the legislators who might face bills to be better informed so they could make a public policy decision that was in the best interest of Iowa,? Ketterer said in an interview.
Based on the research, Ketterer said he believe the state agency would be able to regulate the online poker activity should the legal hurdles be cleared.
?How strictly it could be regulated might differ in different legislators? eyes,? he added. ?Our goal was to inform them as to what?s out there, what is the status of the industry right now, and then they can hopefully draw conclusions as to whether this is something that can or can?t be regulated to their personal desire and that they would be comfortable with. It?s kind of in the eye of the beholder.?
Key features of legislation that stalled last session would have authorized the creation of an intrastate online poker network and provide a regulatory structure for its implementation, operation and taxation. Senate File 458 also envisioned an authorized online poker hub operator under the control of the state Racing and Gaming Commission that would contract with state-licensed casinos to operate affiliated online sites within a ?closed loop? in Iowa for registered players aged 21 and older.
Sen. Jeff Danielson, D-Waterloo, one of the architects of legislation to legalize online poker, said the report provides clear evidence that illegal activity is occurring and indicates that a ?safe and secure? regulatory structure could be assembled should policymakers decide to authorize the state?s first foray into Internet gambling and capture some of the revenue that currently is ?leaking? out of Iowa.
?The report indicates we have the brain power to do it. The question is if we have the will power to do it. I think we should but that remains to be seen,? he said.
Comments: (515) 243-7220; rod.boshart@gazcomm.com
Source: http://easterniowagovernment.com/2011/12/01/state-gaming-regulators-issue-online-poker-assessment/
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