US iPoker Could Be Worth $1.2BN by 2020

On May 25/26th, the 20th Annual East Coast Gaming Congress took place at Harrah’s Resort Casino in Atlantic City, with more than 600 gaming-related professionals taking the opportunity to gather and share their ideas about the state of the gambling industry. In addition to hot topics being discussed, such as online gaming and regulatory developments, experts also laid out their vision of the industry’s future, and as Itai Pazner, head of 888’s B2C division, later explained to CardsChat following the conference:
“The US has the potential to be a $1.2 billion market by 2020. The keys to this happening are: the opening of new markets, such as New York, Pennsylvania, California, and Michigan to expand the player base, sharing poker liquidity between all open markets, and better enforcement towards illegal operators.”
While iGaming expansion has ground to a halt since Nevada, Delaware, and New Jersey introduced regulation back in 2013, it is now hoped that the improving revenues currently being generated by New Jersey may help to provide just the encouragement needed for other US states to join the bandwagon. In April, for instance, the Garden State saw its revenues soar by 34% to $16.9 million, representing six straight months of record revenues, and even Delaware has reported peak business for two months on the bounce.
Also widely discussed at the 2016 East Coast Gaming Congress was the potential of daily fantasy sports, eSports and social gaming to elevate online gaming to new heights. However, the gambling industry first needs to do more in order to appeal to younger customers, and elaborating further Caesars Entertainment CEO Mark Frisorra explained:
“It’s clear that the opportunity for gaming innovation is tremendous, and I believe there will be a market for exciting new games. Gaming manufacturers, operators and regulators all have pivotal roles in figuring out how we will appeal to and shape the gaming desires of millennials and baby boomers.”
In the meantime, delegates also heard discussions take place on the North Jersey casino expansion referendum scheduled to take place in November, with Resorts CEO Mark Giannantonio warning that the state risked losing up to three casinos, as well as many as 23,000 job, following a positive vote.
“Foreclosures will double, unemployment will double. I can go on with many, many more metrics,” Giannantonio said.