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Many states have made the move to casino gambling to help their over the limit budget deficits. These states have changed their tune regarding casino gambling in the name of revenue dollars.
Now that many states have made this move, the ones that already had casino gambling are seeing competition that is hurting their revenue money. One of those states is Delaware, and an analyst from Jefferies & Co. believes he has the answer.
Lawrence Klatzkin claims that the way to help out Dover is to allow sports gambling. It is the next wave of legalized betting and it was just a matter of time before some state pushed the envelope.
“While we believe it would be at least another two years before anything substantial could be operational, Maryland gaming being legalized will likely have an extremely negative impact on Dover Downs. Roughly fifty percent of Dover’s players come from management,” wrote Klatzkin, in a client note.
Klatzkin believes that when new governor Jack Markell takes office, there will be a change in the governments stance on sports betting. Outgoing governor Ruth Ann Miller was not in favor of legalizing sports betting.
Sports betting is the one thing that would certainly be left out if the American government decided to regulate the online gaming industry. All of the major sports leagues have come out against sports betting, but it would be in their best interest if the gambling spread legally throughout the United States.