Friday, August 24, 2012

Place Your Bets: First Legal, Real Money Online Poker Site May Be Live In October - Tech Trader Daily - Barrons.com

Place Your Bets: First Legal, Real Money Online Poker Site May Be Live In October - Tech Trader Daily - Barrons.com


The game is heating up: South Point Hotel & Casino may become the first legal online poker site to use real money in U.S. history.
As PokerNews.com reports, the company became the fourth granted an interactive gaming license by the Nevada Gaming Commission, but its license is unique “in that it allows South Point to run its operation in-house without partnering with a third-party operator.”
South Point CEO Mark Gaughan, who last year launched a free-to-play online poker room, says he intends to have the online poker site live by October, after the firm’s patent pending technology is approved by gaming regulators and independent testers.
Monarch Casino & Resort (MCRI) also reported today that it received an interactive gaming license in Nevada. Bally Technologies (BYI), IGT and Shuffle Master (SHFL) were awarded interactive gaming licenses earlier this year.
With some estimating that the legalized U.S. online poker market could be $5 billion in 2015, it’s easy to see why companies are eager to get on board. Nearly three dozen other companies, including Caesars Entertainment (CZR) and MGM (MGM) are also working toward licenses.

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