Land gambling mogul Steve Wynn appears to have lost his enthusiasm for internet operations
Steve Wynn, the billionaire principal shareholder in land casino group Wynn Resorts, appeared several years ago to be bullish on the prospects for internet gambling in the US, at one stage negotiating a partnership with Pokerstars but later withdrawing from the deal (see previous InfoPowa reports).
Fast forward to this month, and it appears that the company has also reconsidered its licence application for Wynn Interactive to conduct online casino operations in the legalised New Jersey market in partnership with Caesars Interactive.
According to the New Jersey Division for Gaming Enforcement, the company withdrew its application for a licence earlier this (September) month, the Courier-Post newspaper reports, observing that Wynn Interactive took preliminary steps in July 2013 towards entering New Jersey's Internet gambling market, although the company later warned it might review its decision, and Wynn himself commented that in his opinion Internet gambling "is not a good entrepreneurial opportunity."
The legal representative for WI wrote in a September 2 letter to the DGE that "…at this time, Wynn does not wish to proceed with its application." The regulator allowed it to withdraw the application two days later.
Internet gambling in New Jersey took in $122 million in 2014, and for the first eight months of this year, it has brought in $96.7 million, an increase of 15.6 percent over the same period a year ago.
Online Casino News Courtesy of Infopowa