Mon, 10/08/2012 - 13:00 - US Casino Executives Fear Overseas Operators

The US online casino industry is under threat from foreign operators amid indecision among policymakers.This is according to a number of high-profile gambling executives, including Las Vegas Sands chief executive Michael Leven and MGM Resorts International chief executive Jim Murren.Both billionaires fear that US operators are being held back by current laws which prohibit online gambling, but overseas sites are still receiving business due to the large number of Americans carrying out the activity illegally."Americans are illegally gambling today online with no protections whatsoever, whether they're underage or have any type of addictive behaviour," said Murren.He added that "consistency" across the US would help the industry take advantage of "billions of dollars" that might be at stake.The comments were made at the G2E gaming convention, where chief lobbyist Frank Fahrenkopf expressed doubts last week (October 5th) that congress would pass legislation to legalise internet gambling across the country.