Online Gaming Poised to Become $7.4 Billion Industry in the U.S. by 2017

[BingoT]

Online Gaming Poised to Become $7.4 Billion Industry in the U.S. by 2017

Caesars Entertainment Corp., the largest owner of U.S. casinos, will offer real-money online poker in Nevada starting Sept. 19, becoming the second operator to do so since the state legalized Web gambling in February.

The game will be marketed under Caesars’ World Series of Poker brand, the Las Vegas-based company said in an e-mailed statement today. The announcement coincides with plans to raise as much as $1.18 billion by selling stock in Caesars Acquisition Co., an entity that will own a stake in the online gambling business, as well as casinos in Las Vegas and Baltimore.

“This is really the beginning of a domino effect,” Mitch Garber, chief executive officer of Caesars Interactive Entertainment, said on a conference call with reporters. “The same way that the state of Nevada started land-based casino gaming and you’ve seen the proliferation of casino gaming across the U.S. We believe that the digital age will repeat that very same pattern.”

Online gambling is projected to be a $7.4 billion business in the U.S. by 2017, according to researcher H2 Gaming Capital. Nevada will represent about $400 million of that. Caesars Chairman and CEO Gary Loveman has said he hopes to begin taking online bets in New Jersey later this year. New Jersey, Nevada and Delaware are the only states that have legalized online betting and are vetting would-be operators.
CHRISTOPHER PALMERI, BLOOMBERG

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[cpdnd31]

Today on news IL is now offering the lottery on your phone. I was like ok that's a major step for us. We were offering online for about a year now as well.

 

[hugh.r.walker75]

All sounds good - big money and a lot of work, BUT:
I think we step in with some serious issue a lot of operators and affiliates try way too aggressive ways to advertise their services for online gambling/gaming, which as result scares and irritates people making it hard for all players flooded with spam and that is bad for the entire sector. I hope there will put up some unwritten rules so all marketing campaigns proceed smooth and in the best manner possible.

 

[Mousey]

$7.4 Billion Industry in the U.S. by 2017....

New Jersey, Nevada and Delaware are the only states that have legalized online betting.....

Let's see... this is fall 2013.... so someone expects within 3 years a hella bunch of other states to legalize gambling and have it up and running... unless most of the folks residing in those 3 states are all super rich and compulsive gamblers....

I remain skeptical...