DoJ's changed internet gambling policy boosts the attraction of American ventures
There is a ‘revolving door' between Europe and the United States as online gambling execs join the transatlantic rush to build US partnerships in the wake of the US Department of Justice's rethink on the industry, the Remote Gambling Association's chief exec Clive Hawkswood told the business publication ‘This is Money' this week.
The trade association numbers most of the UK's large internet gambling groups among its members, and Hawkswood was commenting on the increased transatlantic traffic as his members seek business expansion opportunities in America through partnerships, joint ventures and even mergers.
"Many of our members will be spending a lot of time in the States to see what deals can be done," said Hawkswood. "The big American players may have brand awareness, but European companies have the knowledge and experience of working in regulated markets, and if the market opens up over there then there are lots of opportunities for them," he said.
"American companies will be looking for partners who are whiter than white to get past the strict regulatory environment. They want no skeletons to emerge, so this could favour the publicly listed firms, who have a higher level of transparency."