Study: US Online Gambling Worth $9.3b in 2020Published May 12, 2013 by Admin
Morgan Stanley sees US online gambling revenue topping Vegas and Atlantic City.
Morgan Stanley, one of the world's leading financial services firms, has made a bold prediction - estimating that in 2020, online gambling in the US will be worth more than the combined amount currently produced by Las Vegas and Atlantic City.
US online gambling boom
The American online gambling industry will be worth a massive $9.3 billion by the year 2020, according to a "conservative market estimate" made in the Morgan Stanley report. This would see it top the combined amount made by Vegas and Atlantic City, which produced $6.2 billion and $3 billion respectively in 2012.
In its report, Morgan Stanley upgraded Boyd Gaming Corporation's stocks. As a Nevada business that owns hotels and casinos throughout the US, including big establishments in Vegas and AC, Boyd is seen as one of the companies best placed to take advantage of the changing legal environment.
Awaiting the online casinos
Online gambling giant 888 appears set to become the first operator receive a license from the Nevada Gaming Control Board, according to various reports on the internet in the past month. So far two tech firms have receive Nevada online gambling licenses, but as yet no online casino operator has been approved.
Nevada, New Jersey and Delaware have all passed laws approving some of form of online gambling in the past month. Nevada's law authorizes local firms to host internet gambling for non-state residents. This effectively creates a nationwide framework for online gaming despite the failure of federal regulation attempts.