Casino Companies Favor Online Gambling
Wednesday June 24, 2009
Many years ago when online casinos started appearing on the Internet, the owners of the brick and mortar casinos spoke out vocally against them. They were in favor of legislation to ban the online casinos because they did not want anything cutting into their profits. With the casino industry suffering from declining revenues during the current economic slowdown, some of the casino corporations are eyeing online gambling as a way increase their sagging profits.
Harrah's Entertainment and MGM Mirage, the two largest gaming companies now support legalizing online gambling. Harrah's has been the most vocal supporter of Internet gambling in recent months, and they also stand to benefit the most from legalization. Last month, Harrah's launched a subsidiary in Montreal, Canada to capitalize on the spread of Internet gambling in countries where online gambling is legal.
Both Harrah's and MGM feel that more people would gamble online if it was regulated and run by companies that know and trust.