Playtech Executive Believes Locals Will Rule US Online Gambling

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Playtech has recently prepared to jump into the US online gambling market if the laws are changed in the future. Mor Weizer, the Chief Executive Officer for Playtech, believes that the industry will be dominated by local gaming companies.

Among the companies that Weizer could have been speaking about are Harrah's Entertainment, MGM Mirage, Las Vegas Sands, and Wynn Resorts. The owner of Wynn Resorts, Steve Wynn, has been a long time opponent of any online gambling regulations in the US.

Playtech offers Internet gaming software to companies that operate online gambling sites all across the world. The company has recently taken steps to ensure that when the US market is opened up, the companies that may obtain the licenses will be using Playtech software.

"The timing is not clear but we see a genuine and positive momentum (towards online gaming regulations)," said Weizer to Dow Jones Newswires. "We see a lot of interest from operators in the US, and we are in discussions with various local groups."

One of those local groups, Harrah's Entertainment, has already moved into the online gambling industry in other countries. Harrah's launched online casinos with the Caesars brand, although they do not accept US players. Many gaming experts believed that Harrah's was simply preparing for the day when the US market opens up.

Representative Barney Frank has already passed an online gambling bill through his House Financial Services Committee. The bill will move towards the full House, but it is unlikely the legislation will reach the floor before the mid-term elections in November. If it is delayed beyond the new year, Frank would have to start the process over again.

Support has been growing within the legislature to overturn the Unlawful Internet Gambling Enforcement Act of 2006. The law has created much controversy, and since being implemented in June of this year, has been highly unsuccessful is slowing online gambling in the US. The US is still considered to be the largest online gambling market in the world.

August 27, 2010
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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