This story was published more than 11 years ago.
The Chief Executive of Caesars Entertainment told CNN this week that he is optimistic about the prospects of legalized online gambling within the United States.
Speaking to the cable news network about internet gambling Caesars CEO Gary Loveman said: "I can say with tremendous confidence that people will be able to play online legally in the United States in many places very soon."
Speaking about the bizarre situation that American online gamblers currently face with offshore casinos, Loveman said: "Today we have this bizarre situation where it is legal for an American to play online poker for money using a game that is provided by an illegal offshore entity. I think it is very hard to imagine why we would allow Americans to buy a service that no American company can (legally) offer."
He also made the case that legalized online gambling would generate large tax revenues that could benefit both state and federal governments. Loveman estimated that federal online poker legislation would see profits of $6-8 billion annually, while if states go it alone, the revenues would be $2-3 billion in the beginning.
Loveman also stated that the feds would probably get 15% of the revenue online poker companies generated.
Video of Loveman's CNN interview can be seen at: http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=4&ved=0CFIQ...