Monday June 16,2014 : ONLINE GAMBLING IN THE U.S.A. WILL EVOLVE SLOWLY
Corporate financier says momentum will grow as more states legalise and look to interstate compacts.
Corporate financier Steve Epperly, Senior Director, CIT Corporate Finance – Gaming, a division of CIT Group Inc. says an increasing number of US states want to provide gaming options to their residents rather than see them head to adjacent states to gamble, leading to the recent expansion of the gaming industry…and that legalised online gambling will evolve slowly in America.
These are some of the insights found in "Betting on the Commercial Gaming Sector", the latest installment in the CIT Executive Spotlight series of in-depth executive Q&As.
"In the face of tightened budgets and revenue streams, gaming is becoming more and more important to states," notes Epperly.
In the section on legalised internet gambling the financial industry executive says:
"Online gaming will benefit from more regulation and will roll out slowly, on a state-by-state basis, likely under the regulatory framework already established in these states for traditional land-based gaming.
"Growth in online gaming will reach a tipping point when a critical mass of states approve the activity and then enter into interstate compacts that pool gamers in these states together, similar to those agreements that govern multistate lotteries such as Powerball."