Caesars Entertainment, the world’s largest gaming company with over 50 hotels and casinos based in dozens of countries, will officially enter Nevada’s online poker market on September 19. The company expects to generate over $400 million through its online poker domain by 2017, and is negotiating interstate betting arrangements with New Jersey and Delaware regulators.
Caesars will use its very popular World Series of Poker brand as a strategy to market the online poker room. The company already gathered the names of over 12,000 WSOP players who are interested in playing at the online poker room.
The WSOP concludes its offline poker season in November at the Rio All-Suite Hotel and Casino in Las Vegas in what was dubbed by poker commentators as the Year of Canada due to the unprecedented success of Canadian poker players. Caesars hopes the record breaking poker season will attract players to the WSOP online poker room in what is an ever-expanding internet gambling market.
According to research done by H2 Gaming Capital, a leading data intelligence group for the gambling industry, the US online gambling industry will exceed $7 billion by 2017.
In addition to owning casinos in Nevada, Caesars maintains vested interests in New Jersey where online gambling sites are authorized to go live by the end of November. The gaming regulators of the two states are discussing authorized interstate betting arrangements, which Caesars fully supports.
Mitch Garber, CEO of Caesars Interactive Entertainment, described the Nevada online poker industry as “the beginning of a domino effect” that will continue to benefit Caesars as more states authorize their own internet betting laws.
“The same way that the state of Nevada started land-based casino gaming and you’ve seen the proliferation of casino gaming across the U.S. We believe that the digital age will repeat that very same pattern.”