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Entertainment Giants To Possibly Enter The World of Online Gambling

July 5, 2007

One of the Worlds top, and well known, entertainment companies, MGM Mirage, has recently made it known that should the ban on online gambling be lifted that they would absolutely get involved in the online gambling industry.  

Alan Feldman, MGM’s Senior Vice President explained to a California newspaper that the corporation supports Congressman Barney Franks efforts towards legalizing and  regulating Internet Gambling in the US and if his efforts are successful, that they would be ready to go online with a year.  

Feldman also believes that a number of other major US gambling and entertainment companies would also take advantage of the opportunity and some way or another stake their claim in the billion dollar industry.  

In response to the UIGEA (the Unlawful Internet Gaming Enforcement Act), which was passed last fall in United States and basically bans it’s citizens from taking part in online gambling activities, Congressman Barney Frank proposed a counter to the ban with the Internet Gambling Regulation and Enforcement Act.  

Barneys proposal would see that online gambling become legal throughout the United States but would be strictly regulated and would ensure that all operators, possibly MGM Mirage, must have a proper license.  

MGM Mirage, a hugely successful brand who currently operate 17 hotels and/or casinos across the US (most famously in Las Vegas), has already attempted to break into the online world in the past but were not successful.  Apparently their lack of success was due to the fact that they weren’t making enough profit as they could only compete for 30% of the market.  

However, this previous attempt is not going to deter them from trying again if Franks Bill gets passed, "But with the U.S. market under Frank's proposal, it could be profitable," declared Feldman.