The Future of Online Gambling in the US


11/17/2011
By Debra SaundersGoogle

 

There are people who believe that online gambling will someday be legalized and regulated in the United States.  Richard Bronson is one of those people.  He is the founder and owner of US Digital Gaming and he believes the day will come when there will be a market for software for online operators, which his company will provide.  Fortune magazine interviewed Bronson on this subject.

The article in Fortune mentions Caesar’s Entertainment, which used to be known as Harrah’s.  Since it was bought out by billionaires, it has been investing in online operations.  It also backs a lobbying effort in Washington DC, which is headed by Louis Freeh, a former FBI director.

The article also mentions the fact that those who move first will have the advantage in a critical moment.  Many billionaires are investing even though no laws have been passed.  Initiatives have already gotten out in the public, including a collaboration between the head of Avenue Capital Group and Donald Trump.

Bronson told Fortune that he had several investors interested in his project and none of them are in the gambling industry.  One of the names mentioned was Herbert Simon, a major real estate player.

The article also mentions the Fertitta Interactive agreement with Cyberarts.  Fertitta Interactive is a company owned by Lorenzo and Frank Fertitta.  Prior to this, Fertitta had called off a deal it had made with Full Tilt Poker.  Steve Wynn had called off his own deal for the same reason, but had not signed a new one yet.

These investors believe that it is only a matter of time until online gambling will be legalized in the United States.


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