Las Vegas Sands Gives United States Government A High Five
December 5th, 2006 by Ian
Not long ago the United States tightened laws against online gambling, immediately crippling and bringing online casinos to their knees. Now the Las Vegas Sands plans to launch their own online platform, starting in the United Kingdom. Their stock price (LVS) is up about 140% in the last twelve months.
Las Vegas Sands said the Web site, which is expected to be launched in the second quarter of 2007, will not accept U.S. customers. It will feature the company’s brands, including The Venetian, Sands, Palazzo and Paiza.
Will anyone be surprised if the United States provides regulation and legalization after the Europe market picks up?
Interesting fact from Tradingmarkets.com:
Reports indicate that of the estimated $12 billion in annual revenue generated by online gambling in 2005, about 50% was contributed by American players. The online gaming industry lost $7 billion in market capitalization in one day after the Congress enacted the Unlawful Internet Gambling Enforcement Act.
