LOS ANGELES—All sindustries are clearly not equal. The United Kingdom is in conniptions over online porn, but an online gaming company sees no downside to expanding its operations across the Pond into the brick & mortar world by either building or acquiring an Atlantic City hotel/casino.
According to Shore News Today, “2UP Gaming PLC, which operates the online gaming website www.2UP.com, says it has received a letter of intent from an Asian investment group valued at $330 million, subject to the completion of an agreement, which is scheduled to be finalized by Sept. 9.
“The letter will ‘facilitate 2UP’s planned entry into the United States internet gaming market by providing the means to build or acquire a hotel/casino in Atlantic City, New Jersey, which is a requirement under recently passed New Jersey state law permitting internet gaming in the United States under certain conditions,” the article added.
Reuters has also reported that all 12 Atlantic City casinos have applied for internet gaming permits, signaling a clear interest on the part of casino operators to take advantage of the global marketplace for gaming online.
The mutual interest by online gaming companies to gain a foothold in the States was equally inevitable given the reluctance of U.S. lawmakers to legalize online gambling.
2UP’s CEO Marino Sussich commented, “2UP has been working diligently for the past 12 months assembling the finest technology and strategy necessary to be a global leader in the i-gaming marketplace. Emerging global gaming markets have created enormous growth opportunity for our company, and the United States launch of 2UP’s online gaming products will significantly add to our growth.”
Shore News added, “New York based MidOil USA, which previously announced a $75 million financing commitment for 2UP, will oversee the 2UP United States market expansion, said the Vincent Crandon, managing director of MidOil USA.”
