Land Casinos Look to the Web for Profits
Some of the world’s biggest casino companies, such as Las Vegas Sands, Wynn Resorts and MGM Resorts, are relying on electronic gambling products in order to boost profits.
Next week the Borgata Hotel Casino & Spa in New Jersey will become the first U.S. casino to allow guests to play casino games on hotel room televisions.
However, Sidney Adelson, the CEO of Sands, is not such a fan of online gambling, he believes that if everyone jumps in at once then no one will make profits.
Nevertheless, the President and COO of Sands, Michael Leven, recently said that Sands will be entering the online market.
The CEO of MGM, James Murren, believes that the government should have more of a role in online gambling in order to protect consumers, “Americans are illegally gambling today online with no protections whatsoever, whether they’re underage or have any type of addictive behaviour.”
There is progress towards legal online gambling in the states, the Justice Department has ruled that intra-state gambling is legal and since then a few states are beginning to implement laws to regulate the market.
Nevada is the first to have passed a bill legalising online gambling, but Delaware and New Jersey are not far behind.