E Is Trump’s Election Positive For The US Online Gambling Industry?

The US online gambling industry continues to lag in terms of progress as compared to Europe and several other parts of the world.

Back in the early 1990s, US President Elect Donald Trump was one of the most influential figures in the US gambling industry. Through Trump Entertainment Resorts, Donald Trump ran two casinos via Trump Taj Mahal hotel and casino in Atlantic City, NJ, and Trump Plaza Hotel and Casino.

His casinos partnered with UK-based online betting company Betfair in 2013 to offer online betting services in Atlantic City, (New Jersey) but only until September 2014. It was reported back then that Betfair would continue to take online bets even after Trump Plaza closed its brick and mortar shops.

Now, given his past links to the gambling industry, there is renewed hope that the Trump presidency will be good for the US gambling industry.

Companies in the gambling industry have been losing business to the online black market. However, with proper legalization, online gaming platforms like 888Casino could be set for a bright future. This could also see the likes of Caesars Entertainment (Nasdaq: CZR), which has been struggling over the last few years find a new lease on life.

Currently, there is only a handful of states that allow online gambling in the country, a fact that many people believe could change soon now that Trump is president. Analysts have estimated that the US online gambling industry could yield massive returns for the government in terms of tax revenues if federal regulation comes through.

Trump is expected to change things significantly in the US legal framework and the corporate world. Daniel Wallach, a gaming and sports law attorney based in South Florida with the firm Becker & Poliakoff is one of the people that believe the gaming industry could get a lot better in the US in the next few years.

In a recent interview, Wallach said that while the “Republicans in Congress are not big fans of online gambling, Trump wants to put Americans back to work and sports betting creates greater infrastructure — more construction and more jobs and more facilities and brings people into a state. It’s good for casinos and the gaming industry overall.”