Churchill Downs Preparing For Possible Legalization Of Online Gaming In California
The efforts to expand online gambling in the U.S. are largely centered on the State of California. Most industry experts believe that California has the best chance of being the next U.S. state to allow some sort of online gambling.
The current state of internet gambling in the US is nothing near any of the forecasts and the amounts generated are a fraction of the potential. As we have reported California has already started advancing proposals that would see legalization become a reality. The infighting mainly between online poker giant PokerStars and the Indian tribes has been the main reason for the delays.
Despite all the in house fighting many interested parties like Churchill Downs are already planning for what they believe will be the legalization of online poker. It was reported that Churchill Downs has already been working on developing a platform for a possible internet gambling operation.
There were previous reports on this but it was confirmed by a filing with the Securities and Exchange Commission on Wednesday where the Q2 results were released. Churchill’s partners are the Crystal Casino & Hotel in Los Angeles and the Ocean’s 11 in Oceanside. The agreement is reportedly for 10 years starting from the first bet wagered. In terms of the partnership Churchill will jointly provide the platform with card rooms and operate the site that includes poker and real money gambling.