Billionaires Getting Involved With Online Gambling

Last Updated on

One of the more unknown stories in the game of online gambling comes from a guy named Richard Bronson, who used to be an executive at Mirage Resorts.  Bronson believed that the casino industry was about to expand, and more than just in terms of across the United States.  He was looking at the Internet, and decided to help found U.S. Digital Gaming two years back.  This was completely on a limb, and Bronson was assuming that online gambling (mainly online poker), would find its way to being a huge hit in states that were looking to draw in some additional revenue.

This company that he created was made to provide advertising and software, and took a bit of money to get it rolling.  There were some big named investors who had quite a bit of money, and decided to put it into this company that Bronson had created.  It included names like Herbert Simon, who owns the Indiana Pacers, and Steven Roth who is the chairman of Vornado Realty Trust.

Internet gambling has always been pretty huge in the US market, but it has been mainly from players with offshore companies.  The issue is, that the Department of Justice stood in the way of allowing online gambling in the United States, but as of now; it looks like the push for legalizing this in the United States is on.

The thing is, there quite a few billionaires getting involved in the online gambling front.  Even well-known names like Steve Wynn and Donald Trump have been linked in ways as well.  Wynn had a deal set with PokerStars, but backed out soon after it was reported after they were caught up with the DOJ’s crackdown on online poker.  Trump has been paired with Marc Lasry, who controls the Avenue Capital Group.

There have been many other big names involved in the talks of online gambling in one way or the other, and that is the real story here.  The interest all around in online poker and online gambling is growing so quickly, that even some of the biggest businessmen in the United States know that they want to be involved.  Keep an eye on what happens if online poker gets legalized in the United States, it could make for some interesting pairings among billionaires.