Online gambling in the United States may be edging closer to the regulatory norms, estimates Churchill Downs Incorporated (CDI) CEO Bill Carstanjen. One of the United States’ best-established gambling companies, CDI has been making significant changes to its portfolio to diversify its assets and lay the groundwork for the future online network of casinos that the country may soon see.
CDI Tentatively Diversifies Portfolio with Online Casinos and Sports Gambling
We have seen the first palpable signs of CDI’s shift towards online assets with the recent acquisition of Presque Isle Downs and Casino in Erie, Pennsylvania. As Online Poker America has reported before, Pennsylvania has been making significant efforts to push for a legalized online gambling industry within the state’s borders and beyond.
The addition of Presque Isle Downs & Casinos to CDI’s portfolio has allowed the company to gain a firm foothold in the upcoming medley of legislative changes. CDI has its eyes on another lucrative sector that is expected to overhaul the monetary value of gambling operators across the United States, namely sports betting. Horse racing, in general, is a segment where CDI has been a benchmark company.
CDI has already managed to conduct horse betting via its homepage, enabling it to pursue further ventures in this area, and constituting the first legislative silver lining.
The Idea of a Future Expansion Is on the Cards
CDI may choose to expand into other gambling-friendly states that are preparing to overhaul their laws and legalize online casinos and sports gambling. The current legal patchwork is contentious but it is definitely within reason to assume that things may improve for the better.
The State of Louisiana has been debating the legalization of both segments in a recent push by the Senate Committee of Judiciary, which looked on sports gambling more favorably than online casinos.
However, Louisana has hardly been the only state to weigh the pros and cons of this activity, with Illinois bringing matters to the US Senate.
Mississippi remains another future possibility for the company to expand into, as CDI owns two properties and legalization may soon be passed if the U.S. Supreme Court rules broadly in favor of New Jersey.
CDI is well-poised to expand in the above areas as it owns properties there. Settling the legal debate over the future of online gambling could significantly expand the company’s operations and bring steady revenue streams.
Future Bright Spells of Regulatory Bliss
With CDI openly commenting the prosperity that a legalized industry may bring, it is quite likely to expect online casinos and sports gambling to find a foothold in the US landscape of regulations.
The endorsement that both segments have received from bid players in the industry may be the grounds for a future expansion. Moreover, not all US citizens are opposed to the activity. On the contrary, 55% embrace it, a survey conducted by The Stillman School of Business has revealed.
The future of gambling will be challenging, but CDI is well-equipped to face it.