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Gary Loveman: US Poker Market Bigger than You Think

During the company’s third quarter earnings conference call, Caesars chairman Gary Loveman indicated that the online poker market may be more lucrative than the $5 billion a year analysts have predicted.

According to the Las Vegas Sun, Loveman “is optimistic about the passage of federal Internet poker legislation and is pleased that more of his gaming colleagues have climbed on the bandwagon to support legalization.”

Considering licensing requirements, Loveman said Caesars would be ready in “12 to 14 months” if Congress passed a bill legalising and regulating online poker.

Loveman’s charge comes after bwin.party’s announcement of partnership deals with MGM Resorts and Boyd Gaming and Fertitta Interactive’s purchase of CyberArts.
 
Caesars operates online gaming sites in the United Kingdom, France and Italy via a partnership with 888 Holdings. The Las Vegas, Nevada-based company also owns the lucrative World Series of Poker brand.

Earlier this year, Caesars Interactive Entertainment, the company’s online division, received approval from Nevada regulators for its partnership with Dragonfish in non-US markets—the first approved partnership between Nevada and an offshore operator.

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