Harah’s and PartyGamling are ones of the largest gambling corporations in the whole world. Due to the current anti-gambling laws in the United States of America, they are unable to provide their services on the territory of this country. However, everything can change drastically within next couple months. Read more in this article.
Harrah’s Entertainment gambling corporation specializes in brick-and-mortar gambling establishments actually. It owns numerous hotels with casino halls in Las Vegas and Atlantic city, what’s more it also owns several golf courses. Harrah’s is an organizer of the biggest poker event in the world- The World Series of Poker. However, due to the current economic crisis the revenue of this major casino group has dropped significantly. It has borne astonishing losses of $195.6 million since the beginning of 2010. A CEO of Harrah’s corporation Gary Loveman expressed his opinion towards the current tough situation and the ways out of it. He claimed that there is no much hope placed upon land-based gambling establishments, although the company is planning to launch brand-new casino halls in some Asian countries, France and Italy. Loveman believes that the revenues that these casino halls will bring won’t be enough to revive the corporation. The most effective way to do this is to enter the US online gambling market. However, it’s currently impossible due to the strict anti-gambling laws existing on the territory of the USA. Harrah’s Entertainment company has made a decision to lobby some pro-gambling acts proposed by several Congressmen as Frank’s bill, for example. This bill is aimed at overturning the UIGEA Act and legalizing online casinos in the United States. Such a decision would bring billion dollars to state and federal budgets, as well as to most US gambling operators.
And the second major gambling group prepared to burst into the American market is PartyGaming. It used to be the most influential poker brand in the world till the UIGEA Act was passed in 2006. This Act forced PartyGaming to stop operating on the territory of the United States that led to significant revenue losses. We all know PartyGaming for its world-famous online poker site called PartyPoker. Quite recently the CEO of PartyGaming Jim Ryan expressed his urgent desire to get back into the most promising online gambling market in the whole world. The first step towards this was already completed in 2009 when PartyGaming made a settlement with US government worth of $105 million. Ryan confessed that the corporation leads some important negotiations with various American companies about the cooperation prospects. He says that it’s too early to claim something for sure, because all the negotiations are still too far from completion. Ryan also expressed an intention to lobby pro-gambling legislation in the Congress and support brick-and-mortar US casinos.
So, right now everything depends on if the anti-gambling act will be finally enforced or not. Just a reminder, UIGEA Act is set to be enforced on the first of July. However, considering that such mighty powers as PartyGaming and Harrah’s Entertainment attempt to do anything they can to prevent it, we can’t even foresee which party is gonna win in the very end. US online gambling market will certainly become the most lucrative and attractive for numerous casino groups once legalized.
