Gambling industry fights self on Internet gambling

Feb 10, 2014 by Hannah Dreier

Many experts believe online wagering is the future of gambling, but the casino industry is increasingly divided on the issue.

The latest evidence of the split comes Monday as the Coalition to Stop Internet Gambling launches the first commercial in a six-figure campaign warning of the dangers of legalized Internet .

The group is supported by casino mogul Sheldon Adelson, CEO of Las Vegas Sands.

Meanwhile, the casino lobby has made the legalization of online gambling its signature issue for the year. Major members including Caesars Entertainment Corp. are taking steps to get into the market.

Morgan Stanley predicts that by 2020, online gambling in the U.S. will produce the same amount of revenue as Las Vegas and Atlantic City markets combined: $9.3 billion.

Explore further: Study: 10 US states eye Internet gambling bills

5 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

World's richest casino exec opposes online wagers

Dec 08, 2011

(AP) -- Sheldon Adelson, the world's richest casino executive and chief of the industry's largest publicly traded company, says he opposes online gambling because he doesn't believe available technology is ...

Recommended for you

T-Mobile deal helps Rhapsody hit 2M paying subs

20 hours ago

(AP)—Rhapsody International Inc. said Tuesday its partnership with T-Mobile US Inc. has helped boost its number of paying subscribers to more than 2 million, up from 1.7 million in April.

Airbnb woos business travelers

20 hours ago

Airbnb on Monday set out to woo business travelers to its service that lets people turn unused rooms in homes into de facto hotel space.

User comments : 0