When the U.S. Congress passed anti-internet gambling legislation in 2006, it slowed the interest of Las Vegas casino operators to enter that burgeoning marketplace. However, in the wake of new legislation coming up for a vote in the near future that will regulate and tax online gaming in the United States, it is likely we'll soon be seeing those operators entering the fray as soon as the final bill is signed, the T's are crossed and the I's are dotted.

Las Vegas Sands has already flirted with the idea of opening an online casino in 2006, and MGM Resorts, Wynn and Harrah's wouldn't be far behind if regulations are approved.

What would this mean for the online gaming customer? It's not quite sure yet, but we can definitely see a synergistic relationship between the big Las Vegas destination casinos and their online gaming web presence. No longer would they be relegated to advertising their live casino operations on television and maybe a few email spamming campaigns. No, they'll be able to constantly entice the online gambler with much better deals for their live casinos via bonuses, promotions, rewards programs, etc.

While the online gaming publications are predicting a slow down in online gaming if legislation is passed, we see a growth spurt not unlike in 2003 when online poker had its boom. PartyGaming had $977.7 million in revenue and $620.2 million in operating cash flow in 2005, the last full year it was in operation in the U.S. What kind of impact will this have for the casino operators mentioned above? It's definitely speculative, but the general size of the opportunity is more than obvious. Granted, the pie may need to be split into more pieces, but the impact would still be significant.

How will this affect the online gambler? We're not sure but it is likely that we'll see a higher percentage-for-the-house, as well as a deposit or withdrawal tax. It might actually become just a little harder to win money playing games of chance, and for the skill games like poker, your hourly rate may take a slight ding due to the projected increased rake we will no doubt see.

But all of this is, so far, speculation. If and when online gaming in the United States become legal and regulated is when we'll see how the big casino operators react and if it will be a boon or bust for online wagerers.

Tags: Las Vegas Sands, MGM Resorts, Wynn, Harrahs, UIGEA, Online Poker Legislation, Online Poker