Caesars Entertainment Corp. has just launched its real-money online poker platform in Nevada to become the second operator to do so since it was legalized back in February.
Caesars said in an emailed statement that the game will be marketed under the World Series of Poker brand.
The announcement coincides with plans to sell Caesars Acquisition Co. stock in hopes of raising more than $1 billion. Caesars Acquisition Co. will own a stake in the online gambling business, as well as casinos in Baltimore and Las Vegas.
Caesars Interactive Entertainment chief executive officer Mitch Garber said on a conference call: “This is really the beginning of a domino effect. 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.”
According to research analysts at H2 Gaming Capital, by 2017 online gambling in the U.S. is estimated to be worth more than $7 billion. Nevada will account for almost 6% of that market.
Later this year, Caesars hopes to launch online gambling in New Jersey. Nevada, Delaware, and New Jersey are currently the only states authorized for online gambling.
Join the Conversation