Casino Operators Gear Up for US Online Gambling?

11/08/2011
By Pamela PattersonGoogle

 

It seems that based upon recent events in the news, some of the biggest online as well as land-based casino operators are preparing themselves for entry into the US online gambling market.  But wait, isn't online gambling in the US still not fully legal? The market isn't regulated or legalized and it seems odd that groups like Trump Entertainment Inc., bwin.party and Bally Technologies are making moves for market share. Do big businesses know something that perhaps we don't?

 

Trump Entertainment Inc. and the Avenue Capital Group make up what most of the world knows as the Donald Trump empire.  Avenue Capital hold 22% of Trump Entertainment and Donald Trump himself has control over 10%. The two organizations have filed statutory documents with the SEC in order to established a joint online gambling venture.  This preemptive move is described by Ivanka Trump (Donald's daughter and executive vice preside of development and acquisitions of the Trump Organization) as being "the largest online gaming company if the USA [gambling]industry is legalized." 

 

Trump isn't the only one with his eye on the prize, however.  Forbes magazine reports that Jim Ryan, joint chief executive of bwin.party (currently the largest listed global online gambling operator), has been making the rounds of investors in the US with similar motives.  Bally Technologies, a US land-gambling supplier has also publically entertained the prospect of a legalized US online gambling market and is making acquisitions in the social and mobile sphere.

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