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Key Players Support Legalization of Online Casino Sites

A number of key players in the online casino industry have lent their voices to the pro-legalization movement. Top entrepreneurs who have made their fortunes in online casinos stand to increase their fortunes even further if the U.S. government decides to legalize online gambling, and some have even predicted that profits generated by online casinos could double in size. With the United Kingdom leading the way with its pro-gambling policies, many fans of online casino sites are hoping the U.S. government decides to follow suite.

Key players in online casino sites to watch in 2006 are Sporting Bet’s chief executive officer Nigel Payne, along with MGM Mirage chief Terri Lanni and the Harrah’s Entertainment Group. Lanni has already gone on record to say that if online casinos were legalized in the U.S. MGM Mirage could make $12 billion in revenue each year. Harrah’s, with its access to millions of online casino players worldwide, could also reap huge profits. Other supporters of legalization include Steve Wynn of Wynn Resorts and Sheldon Adelson of Las Vegas Sands. Both entrepreneurs are currently focusing on the Chinese market of Macau, however have expressed keen interest in establishing online casinos.

While many in the U.S. predict little change in the government’s current policies toward online casino sites, a few anticipate bold changes later in the year. If online gambling was to be fully regulated by the U.S. in the near future, land based casinos would be quick to join in, boosting the number of online casino sites and increasing the number of potential new casino fans. High revenues would provide a healthy form of taxation for the U.S. government, which many cite as one of the most convincing arguments in favor of legalization.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.