The Wynn Resorts have applied for online gambling licenses in the state of New Jersey following the legalized online gambling order in February that was passed.
Online gambling currently accounts for nearly 3.3% of all overall gambling profits in the United States and offers the possibility of high-quality growth for operators who are able to make their way into the market over the next handful of years.
In the most recent quarterly earnings, the company was unable to exact growth in Macau as their domestic operations was able to be bolstered by 16%, which included recovery in Las Vegas. While Macau growth is a positive turn, the online gambling totals can boost the Wynn revenues, and an economic recovery with higher levels of consumer spending will also aid the overall growth within the United States.
The market is certainly large enough for the company to find its niche profit. The global gambling market that is online is nearly $417 billion within 2013, and online gambling accounts for only a fraction. Online gambling is set to grow in overall revenue within the United States according to the research from the H2 Gambling Capital. The only area where it will not see substantial growth, according to experts, is in the skill-based games or the lottery.
If the experts who predict the impact are correct, then the U.S. Is looking at a $7.4 billion gross winnings for the companies that control the assets globally. By 2017, that will constitute a 30% increase in online gaming market. The Wynn company is clearly looking to grow with the opportunity and is looking to capitalize on the probable wave of revenue.
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