The prospect of a lucrative online gambling industry in New Jersey is attracting scores of established companies vying to get in on the action.
As a result, news of the British online gambling company 2UP joining forces with New York-based MidOil USA to invest in a casino in Atlantic City is not a surprise and will probably not be the last deal of its kind.
The group has financial backing from an Asian outfit and is set to invest 330 million into the casino purchase.
The purchase of a casino by an established company illustrates the potential that is seen in the new market that is opening up in Atlantic City.
The blog that I previously linked from pokernews.com quotes New Jersey Casino Control Commission chairman, Matthew Levinson, as saying, “This shows that people are still interested in Atlantic City,’ Levinson said. ‘If 2UP buys or builds or even if nothing happens, it still shows that companies like 2UP and MidOil are interested. Hopefully, I’ll see more of these projects come to my door.”
An article on pressofatlanticcity.com by Donald Wittkowski briefly discusses the upward trend in online gambling how it will benefit the United States and how 2UP is excited to get into the market in America.
Wittkowski quotes Vince Crandon, managing director of MidOil USA as saying, “Looking at it from a global standpoint, we’re already doing this throughout the world, except for the United States,’ Crandon said of 2UP’s operations. ‘The decision was made to look at the potential of the Atlantic City market. We are looking aggressively at how we could domicile our technology into it.”
An interesting aspect to what 2UP will bring to online gambling is a live dealer to accompany online betting but “controlled by computer technology to prevent errors.”
Details of the actual casino they are purchasing are expected to be released shortly after the deal is finalized.
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