Home / Poker News November 2011 / The Poker Grapevine – Land-based Casino CEOs Optimistic About Online Poker
The Poker Grapevine – Land-based Casino CEOs Optimistic About Online Poker
Posted by: James Carter. - Wed, 2011-11-09 06:14
The optimism regarding the eventual passing of an online poker bill in the US is on the up as the mess created by the Black Friday developments is slowly but certainly being mopped up. Initially discouraged by the Black Friday ordeal, brick and mortar casino operators are once again looking for online partners and assessing the opportunities that potential legalization and regulation would throw their way. Gary Loveman, CEO of Caesars Interactive is the most recent voice to join the chorus: in a quarterly conference call going out to Caesars’ investors, he said he was optimistic about online poker regulation and legalization in the US and that he felt Caesars’ would be able to fully engage in the US
on line poker market within 12-14 months.
Caesars already has an online partner in 888 Holdings LLC, which is responsible for marketing the Caesars and the WSOP brands overseas. The partnership was approved by the Nevada Gaming Control Board and with it Caesars have become the first US-based brick and mortar gambling operation to team up with an online gambling partner from overseas. Caesars and 888 Holdings have long considered the launching of an online poker platform which would cash in on the massive opportunities provided by a potentially legalized and regulated US market.
Lately, the jostling among various land-based gambling interests and private investors looking to get into online poker has intensified. MGM have recently announced a partnership with Bwin.party, and Fertitta Interactive have also launched a play-money operation. Even The Donald has been looking for ways to get his hands into the online poker cookie-jar through his Trump Entertainment Resorts. According to Loveman, more and more of his colleagues are jumping on board supporting the legalization of online poker. With
PokerStars and Full Tilt Poker out of the way the market is indeed ripe for the taking for the various domestic gambling interest groups.
