Online Poker News - Caesars Entertainment Chief Optimistic Regarding Legal Online Poker in USA
9th of November 2011 - latestpokerbonuses.com
Implementing any law to legalise the internet poker market may take up to 14 months
Gary Loveman, the Boston-based chief of US land gambling giant Caesars Entertainment is very optimistic regarding the chances of legalised online poker in the United States.
At the company's briefing Loveman joked that the World Series of Poker, which has just finished in Las Vegas, had this year delivered a prize pool $10 million dollars greater than the whole New York Yankees' payroll, and once again underlined that internet poker legalisation on federal level would deliver to the American market estimated initial revenues of around $5 billion a year.
Loveman's company posted a 12.8 percent increase in profits following cost cuts, efficiency initiatives and organizational restructuring. Therefore, he estimated that his company will need some some 12 to 14 months to become fully operational online, once the legalisation has been achieved.
As for the recent interest in the online poker sector by other US gambling corporates such as Boyd Gaming, MGM and Fertitta Interactive, Loveman said he was pleased that they had also seen the importance of the legalisation and its possibilities.
Being one of the early movers in the sector and already involved in European online gambling ventures with 888, Caesars have been given the blessing of the Nevada Gaming Control Board.
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