Gambling industry eyes virtual bets - Louisville - Business First

Gambling industry eyes virtual bets - Louisville - Business First

Gambling industry eyes virtual bets

Business First

Date: Friday, December 21, 2012, 6:53am EST

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You can't play casino games on your smartphone yet but the gambling industry wants Americans to embrace the concept.

The Wall Street Journal reports betting companies have been working with firms to develop simulated casino games for devices such as the iPhone, in hopes of creating a core of users that could be profitable if online betting is legalized in the U.S.

Caesars Entertainment Corp. (NASDAQ: CZR) purchased Playtik, maker of Slotomania, and International Game Technology (NYSE: IGT) spent $250 million in cash for casino app maker Double Down, with another $250 million in potential payments.

Various states, including New Jersey, are working to legalize online betting as a new Justice Department ruling said it would allow in most cases.