Online Casino Action Cuts into Land-Based Profits
The land-based gambling community is starting to worry about the growing success of online casino sites. Many gamblers prefer to use online casino sites for their gambling needs and less people visit the land-based casinos. Bill Rutsey, the head of the Canadian Gaming Association, says that the online casino industry grasps about $500 million of Canada’s economy. Rutsey is one of the key men of the Canadian gambling industry and he would surly rather seeing those $500 million invested in domestic land based gambling venues.
The Canadian gambling industry has gathered for a Vancouver conference to discuss the influence of the online casino gambling sites. 600 representatives have attended the conference and heard from experts on how to improve their businesses in light of the new online casino competition. Rutsey addressed the issue at the conference and said that the online casino problem is not only a business problem for the gambling companies, but also an economic problem for Canada as millions of dollars are being taken out of the country.
Although online casino sites are illegal in Canada there is not much to be done as most online casino firms are operating from out side of the country. The gambling industry will have to reinvent itself in order to meet customers’ demands. The online casino industry offers many options that the land-based industry will have a hard time catching up with. Rutsey might have to accept the saying “If you can’t beat them – join them.”