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US gambling industry chases developed economy, new regulations at Massachusetts | 14th December 2012 : WorldCasinoYellowPages

US gambling industry chases developed economy, new regulations at Massachusetts

... 14 December 2012

US gambling industry chases developed economy, new regulations at Massachusetts

It has been assessed by a knowledgeable pollster that the upturn of the gambling enterprise in the US is taking place in a much slower manner as compared to its expanded fiscal position which is a matter of great concern for Vegas that is under an adverse effect. Moreover Vegas have to depend more upon the West Coast visitors in the context of the fiscal recession in the region. As expressed by the Arizona State University’s W. P. Carey School of Business’s professor Lee McPheters; the Western territories without any driving force behind their fiscal position are yet in a state of revival & not fully restored. The same was endorsed by the Las Vegas University of Nevada’s Center for Business and Economic Research’s chief, Stephen Brown who commented that the Western areas of the country are lagging behind and are yet to chase the fiscal position of the state with a much faster speed.

The major issue with the Gaming Commission of Massachusetts is the way in which the licenses are to be awarded, i.e. in a phased manner or all at a single time. The whole process of issuance of licenses could extend up to 2014. All aspects related to the rules for having full command over the gambling activities of the state are on the agenda of the commission that is to resolve many policy matters under the new regulations. All the complex matters could take many days for viable decisions to be arrived at for their amicable solutions.

An attractive pact has been inked by Sportech, the UK-based wagering company that intends to tackle Connecticut’s internet horserace betting activities. Sportech Venues Inc. has been allowed by the Department of Consumer Protection in Connecticut to facilitate account betting to customers over eighteen years of age through the internet. A big investment is expected by the company through pari-mutuel betting on jai-alai, greyhound racing and horseracing in the state under its present license when the podium is introduced next year by April. In fact, Sportech has been much popular in the US bazaars where it has found the Sportech Racing total betting handle to be more productive for fulfillment of its expectations. Sportech’s chief executive officer, Ian Penrose expressed glee over their ability for facilitating restricted betting on horseracing through the internet apart from their present telephone and retail betting offerings. They would keep expanding their trade through pari-mutuel betting on horseracing in a lawful and secure manner added Penrose.

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