Donald Trump: US should legalise online gambling
Speaking to the Associated Press on Thursday, US business tycoon Donald Trump said that the US should legalise online gambling.
His Atlantic City casino company Trump Entertainment Resorts is currently moving forward with plans to establish an online betting venture as soon as it is legal to do so and is reportedly close to selecting a joint venture to run the operation.
Trump Entertainment, which includes Donald Trump and daughter, Ivanka, and the Avenue Capital hedge fund, would own 10 per cent of the new venture. According to the founder of the Atlantic City casino company, the key to success in the online gambling industry is having the best brand and Trump believes his brand is going to do "phenomenally well."
Trump said that online gambling should be legalised in the US to help the economy, stating that"an awful lot of money is leaving the US that should and could stay."
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Following the Spanish government stating its intention to issue a first wave of online gaming licences at the beginning of June, Betfair has issued an update on its licensing and tax position in the country.
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