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MGM CEO: “Very Confident” Online Gambling Laws Would Pass on the Federal Level

Written by:
Aaron Goldstein
Published on:
Feb/22/2012
MGM CEO:  “Very Confident” Online Gambling Laws Would Pass on the Federal Level

Appearing on CNBC Wednesday evening, MGM CEO Jim Murren said he was “very confident” online gambling laws would pass on the federal level soon.

Murren added that, if such legislation fails to pass on the federal level, we will likely see the industry develop on a state-by-state basis. 

MGM has teamed up with the largest real money online gambling company, bwin.party.  Murren admitted that bwin.party might have to enter the US market at the state level first.

“It is a multibillion-dollar opportunity,” he said. “We’ll be one of the first companies out of the gate because we’re prepared.”

Murren also looked to Macau and its $35 billion casino gambling market for MGM’s continued growth.

“We want to build another property there and we do expect to spend $2½ billion because we think the markets are going to be there for us, and our brands work in China,” he said.

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- Aaron Goldstein, Gambling911.com

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