European gambling companies are reportedly looking for partners in the United States after the U.S. Department of Justice changed its stance considering online gambling.
Speaking to business publication "This is Money", Remote Gambling Association Chief Executive Clive Hawkswood said that members in his organization have been making several transatlantic trips as they are looking to expand into the American online gambling market. These companies are looking to expand by partnering, merging or creating joint ventures with American companies.
"Many of our members will be spending a lot of time in the States to see what deals can be done. The big American players may have brand awareness, but European companies have the knowledge and experience of working in regulated markets, and if the market opens up over there then there are lots of opportunities for them." Hawkswood said.
"American companies will be looking for partners who are whiter than white to get past the strict regulatory environment. They want no skeletons to emerge, so this could favour the publicly listed firms, who have a higher level of transparency."
Effective Date: January 1st 2012.
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