Exec at Playtech Thinks US Gaming Companies will Dominate Market
Recently, Playtech has begun preparations to enter the United States gambling market if the laws to overturn to UIGEA go through. The Chief Executive Officer for Playtech Mor Weizer thinks that the online gambling industry will be totally dominated by gaming companies within the U.S.
The main U.S. based companies that Weizer may have been talking about are MGM Mirage, Las Vegas Sands, Harrah’s Entertainment, and Wynn Resorts. Steve Wynn, who is the owner of Wynn Resorts, has been against online gambling being legal in the U.S. for a long time.
Playtech is a company that gives online gaming software to companies that run Internet gaming sites the world over. Playtech has taken recent steps to make sure that when online gambling is legal in America, the operators will be able to get licenses to use the software that Playtech offers.
Weizer recently stated to Dow Jones Newswires, “The timing is not clear but we see a genuine and positive momentum (towards online gaming regulations). We see a lot of interest from operators in the US, and we are in discussions with various local groups.”
One of the American groups is Harrah’s Entertainment, which has already moved into the Internet gaming industries in countries around the world. Harrah’s launched Internet casinos, with the Caesars brand, even though they do not take player from within the United States. Many gambling experts are under the belief that Harrah’s was getting ready for the online gambling market to be legal and open in the U.S.
U.S. Representative Barney Frank has already passed an Internet gambling bill through the House Financial Committee, which Frank chairs. The bill will move to the House, but it is not likely that the gambling legislation will get to the floor before the November mid-term elections. If the legislation id delayed past January 1, 2024 Frank will have to begin the process to make online gambling legal and regulated all over again.
There has been a lot of support within the legislature, which has been steadily growing for the last few years, to overturn the controversial Unlawful Internet Gambling Enforcement Act of 2006. The UIGEA has crated a ton of controversy, as since the law was implemented this June it has not done much at all to thwart the online gambling that is rampant in the United States even though it is technically illegal. Many think it is only a matter of time before online gambling is legal in the U.S. since the country has the biggest Internet gambling market in the world.
