Friday, Oct. 6, 2000 | 11:29 a.m.
The figures are staggering for a city constantly looking for creative ways to finance parks and other civic projects.
But if proponents of an Australian-based Internet casino are telling the truth, the city could reap $20 million to $100 million annually by granting its name for the project.
Although Mayor Oscar Goodman has been talking about the possibility since June when a former gaming executive suggested the idea, the city is now trying to find out if there would be any significant benefit to having a "City of Las Vegas Casino" out in cyberspace.
"We didn't seek out the idea," City Manager Virginia Valentine said. "It came to us, and we need to explore it.
"It's on the table," she added.
Goodman said he expected the item to be presented for discussion at the Oct. 18 council meeting. But no one appears ready to rush into the proposal.
"We're always looking for money," City Councilman Gary Reese said. "It's one of those things though, if somebody says they're going to give me $10, I look behind me.
"It sounds too good to be true," he added.
Goodman said Thursday he didn't think it would be political suicide for him or his fellow council members to license the city's names to a business with potential legal, not to mention, moral implications.
"I would never even engage in conversations if I didn't have the full support of the council," Goodman said. "I would never do anything to jeopardize their political futures."
What's more, he said, the city wouldn't enter into such an arrangement if organizers couldn't protect the city from potential liability.
Tentative plans call for the city to receive a percentage, possibly as high as 25 percent, of the net profits of the casino.
Since Australia has some websites licensed for gambling, the casino could operate from Down Under.
Goodman stressed that no gambling would be allowed by U.S. residents, and the Internet casino would not jeopardize any of the local bricks and mortar casinos.
The proposed casino also would have to include a certain amount of advertising on Las Vegas and casinos here.
"This will entice anyone who's willing to play on a virtual reality basis to come here," Goodman said.
City Councilman Lawrence Weekly said he has only just begun to hear about the talks.
"For me it's just free discussion," Weekly said. "I don't know enough about it to form an opinion."
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