MGM and Caesars Prepare for Legalization of Online Poker
MGM Resorts and Caesars Entertainment are just two of the casinos and resorts that are ramping up business with the hopes that online poker will be legalized soon. Some are already gearing up for the day when Americans can go back to playing poker over the Internet and are developing new business models in hopes Congress will give online poker companies the green light to start accepting American players again.
Future of Online Poker
The legalization of online poker is far from certain and may not happen for a long time. Gambling firms are willing to take bold initiatives, even if regulation is far from certain. Some are even preparing for online sports betting to be legalized as well, although most people don’t expect that to happen.
Online lotteries may be legalized after online poker. Panel moderator and editor of iGaming Business Magazine Michael Caselli feels the legalization of online poker could create a new movement to legalize online lotteries as well. Many businesses may start taking Caselli’s words under advisement.
How Are They Preparing?
Although they are willing to take the risk that online poker won’t be legalized, they are smart about playing the odds. They have hired consultants to predict the potential revenues each state will bring in. California, New York, Texas and Florida are all expected to bring in at least $1 billion in revenue from online poker. Companies will probably focus their business models in those areas to benefit the most from the new legislation.
Experts from the Global Gaming Expo outlined a few ways companies are changing their business practices. Companies will need to do a lot before they can implement new gaming practices. They cannot start applying for gaming licenses, start marketing or purchasing software yet.
MGM Resorts and Caesars Entertainment want to be ready to jump into online poker the day it’s legalized. They have already started offering free games through providers overseas.
Casinos with an online and offline presence are considering how they can integrate their two businesses. They could simultaneously market their services in both mediums. They are starting to brainstorm ways to do so effectively.
What are your thoughts on casinos changing their business strategies? Share your thoughts in the forums.
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