Leading US firms include online gambling stocks in their portfolio
Wednesday 28th December 2005
Many of Wall Street’s largest firms are viewing the boom in the online gaming industry as a solid area of investment.
Despite Internet casinos being outlawed by the US Federal Government, the growing trend by the public to gamble online is turning the money men’s heads.
This glowing endorsement by American investors of the online gambling industry’s growth potential underlines a striking gap between the Government’s stance and the realities of this booming business.
The only potential hiccup for investors is that legal experts are divided over whether U.S. investors and/or investment houses that operate mutual funds could be deemed criminally liable for, per say, providing financial backing for ‘illegal’ offshore casinos.