Congressional hearing could pave way for another online poker joint venture
Donald Trump has announced that he plans to join with billionaire Marc Lasry and venture into the world of online poker. They have teamed up with the expectation that online poker will be legalised in the US in the near future.
A recent congressional hearing on internet poker will have given Trump and Lasry hope that their business venture will be able to launch soon. The hearing discussed how regulations can help protect customers and also heard the house subcommittee speak in favour of online poker.
Currently many states already support online gaming, such as New Jersey where Trump Entertainment and its licensed casino are based. The main argument put forward in favour of online poker is the $6 billion spent by Americans every year on offshore gambling which would be of great benefit to the American economy. Trump and Lasry appear to be confident that it is just a matter of time until American companies can legally offer online poker services.
If they are proved correct, then Trump and Lasry will be launching the largest internet gaming company in the US, Lasry would be supplying the money and Trump already has the required gambling licenses. Whilst it is fairly straightforward to launch an internet gaming site it is not very easy to successfully market a site. However, it is this area where Trump and Lasry could work well together.
Trump has many years of experience in the casino industry; however, he has filed for bankruptcy three times in 1984, 2004 and 2009. Lasry has had much success with online poker and high-stakes poker games, he is well known as a poker buff and the combination of Trump’s and Lasry’s experience could prove to be a winning formula.