CNN presenter and Emmy award winner Larry King moderated at the G2E presentation 'State of the Industry' on Wednesday.

The panel of five industry experts, some of the most highly respected names in the industry, took part in the event that was first staged last year. The panellists were Frank J. Fahrenkopf, Jr., President and CEO, American Gaming Association; Paulus Karskens, President, International IGT; Gary Loveman, President and CEO, Harrah's Entertainment; J. Terrence Lanni, Chairman and CEO, MGM MIRAGE; Rebecca Paul, President and CEO, Tennessee Lottery; and Ernie Stevens, Chairman, National Indian Gaming Association.

The discussion, interspersed with amusing stories that caused peals of laughter in the audience, covered topics as diverse as the imminent approval of the merger of big gaming corporations, such as those of Lanni and Loveman at both national and international level with the opening of European and Asian markets, and the support that Indian Territories casino companies could give other Indian nations in areas where they have neither the opportunity nor skills to benefit from gaming. To this the charismatic Ernie Stevens replied, "Of course, and we will also help them to develop."

A red-hot question put to the panellists was about Propositions 68 and 70 in the Californian elections. Supporters of Proposition 68 accuse the Indian casinos of not paying taxes but Stevens was clear in his answer, stating that nearly seven billion dollars are paid annually in taxes destined for social works. Should Proposition 70 be voted in by the electorate then the Indian operators have a virtual carte blanche to build casino resorts in California, which would compete with Nevada. Both Lanni and Loveman said that if this happened then they would respond to the market, and that as long as the competition was healthy it would be good for the industry as a whole.

Paulus Karstens, smiling from ear to ear, declared he was in complete agreement because his company made the slot machines with the biggest slice of the market pie. They would continue to seek to maintain this position whether in the Indian territories, the rest of the United States or in Europe.

Larry King attempted to put the cat amongst the pigeons with controversial subjects but the panellists answered everything clearly and competently. King then said, "this is the industry where everyone is always happy," which caused much merriment in the audience.

The only moment when the joking turned serious was when Larry King put a question about problem gambling. Frank Fahrenkopf Jr. responded that it was a subject that the industry took very seriously and that any means of addressing the problem would get the full support of the industry.

The panellists then gave full rein to their frustration with legislators that always made the industry the scapegoat for all the social ills, affecting them not only with limited authorizations but also with fiscal policies that in some cases would cause the collapse of an industry that could have brought wealth to the state. Although gaming is legal in 50 states, in some form or other, Utah and Hawaii have no gaming. However, it is only in Nevada, New Jersey and Mississippi that companies are able to undertake long-term planning.

In closing the session Larry King reported the sad news of the death of the comic Roger Dangerfield. His irreverent and sometimes black humour was well known at his shows in Las Vegas and Larry King ended by recounting some of the famous one-liners in Roger Dangerfield's honour.

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