Online Casino Regulation Foreseen on CNBC Financial News

Experts discussing the future of US gaming on CNBC say they think regulated online casinos in the US are only a matter of time.

The CNBC financial news program "Closing Bell" addressed the chances of online casinos being regulated in the US yesterday. Two representatives of analytical firms were hosted by Melissa Francis, who conducted a discussion of the future of the US gaming industry, particularly in regard to online gambling.

David Katz of Oppenheimer and Andrew Parmentire of Height Analytics both gave viewpoints that regulated and licensed Internet gambling in the US is not a matter of if, but when. The two did not raise debate about the philosophical importance of allowing individual freedom, but looked at the more pragmatic needs of the land-based casino businesses and the US desire for the revenue that could be created.

Katz said the switch to online casino emphasis even by entrenched land operators is only natural, considering limitations inherent in land gaming venues.

"There’s a finite opportunity for the brick-and-mortar guys to expand in the United States and at some point, they have to start thinking globally,” stated Katz on the program.

"Congress and states are in desperate need for money, and $50 billion can offset a lot of social programs that Democrats are pushing these days,” added Parmentire.

The show coincided with the Global Gaming Expo currently ongoing in Las Vegas.