US Online Gaming Legalisation Predicted By Goldman Sachs

The U.S. Investment bank Goldman Sachs said it believes online gaming will eventually be legalised in the U.S., and although the process will be slow, the attraction of revenues from taxes should be enough for the federal government to allow online gambling. The firm announced, “We believe it is logical to assume that the US market will eventually regulate, given the potential implications for US tax take, if nothing else”
OCA gaming analyst Sherman Bradley states that “Pricewaterhouse Coopers found last winter that the Internet gambling ban is costing the US as much as $52 billion over the next three years in lost revenue.Every day that passes is money that will never be recovered.The Pricewaterhouse study resulted in revenue estimates almost a quarter higher than those found in a study by them eighteen months earlier, because of the rising popularity of Internet gaming”
Extra revenue is also being lost due to the rise of illegal casinos and poker rooms.
In its estimates GS  said;  “Based on a simple ‘grossing up’ of PartyGaming’ rake relative to its 9% market share, the US poker market alone was worth$1.5bn in 2008.” but with its legalisation this figure is expected to at least double or triple. Combined with online casinos the potential size of the online gaming market could exceed $12 billion.
The four businesses highlighted as being ideally placed to take full advantage of legalisation are PartyGaming, 888, Playtech, and bwin as they are assumed to “have sufficient scale and own proprietary poker and/or casino software,” making them ideally placed to aquire a large share of the U.S. market.  
Recently, Barney Frank, the congressman championing efforts to legalise online gaming, has found growing support for his efforts and must now wait until at least September before serious discussion begins on reversing previous legislation  on U.S. online gaming. This would be a welcome development to online gaming businesses who have recently been subjected to bank account seizures, and at one stage stopped accepting players deposits.

Poker News
Mississippi Casinos Post Record Revenue in April as Sports Betting Beckons
04 Jun 2018
Mississippi’s casinos generated gross gaming revenue of $184 million in April, or 5% more compared to the same month in 2017. Furthermore, that total represents an all-time high for the state, and is 1.3% more than the previous record set in 2007 when thousands of volunteers entered Mississippi to assist in cleanup efforts post-Hurricane Katrina.
Switzerland Prepares For June 10th Legalized iGambling Referendum
04 Jun 2018
On June 10th, Switzerland will hold a national referendum to decide whether the ‘Money Gaming Act’ passed by the Swiss Parliament in September 2017 can be implemented next year in its present form. The piece of legislation paves the way for land-based casinos and local partners to offer legalized online gambling in Switzerland, although a
MGM Resorts International Buys NY's Empire City Casino for $850 Million
02 Jun 2018
Real estate and entertainment conglomerate MGM Resorts International has revealed that it’s embarking on a purchase of Empire City Casino, a slots and pari-mutuel wagering venue located in Yonkers, N.Y., just a few miles north of Manhattan. The deal was announced May 29 in a press release, and is expected to be completed near the
Delaware to Launch Full-Scale Sports Betting on June 5th
02 Jun 2018
Last month’s decision by the US Supreme Court to overturn the sports betting ban in the country has opened the floodgates for individual states to legalize and regulate sports wagering within their borders. Before its decision was even made, though, a number of states had already put in place the necessary legislation in order to