Internet casino gambling is legal in only a handful of states, but the industry is convinced it is the future of betting, even as some worry about cannibalizing physical casinosInternet casino gambling is legal in only a handful of states, but the industry is convinced it is the future of betting, even as some worry about cannibalizing physical casinos.
Last month, Deutsche Bank issued a research note saying it is likely a matter of “when, not if” internet gambling in Atlantic City overtakes revenue from physical casinos. “Since 2018, FanDuel has paid $3.2 billion in taxes,” he said. “That's a lot of teacher salaries, a lot of police officers and firefighters.”
But recently, some casino executives have said they believe online gambling is hurting the revenues of brick-and-mortar casinos. Rob Norton, president of Cordish Gaming, which owns physical casinos and internet gambling operations, has become one of the loudest voices raising the alarm that online gambling is hurting established physical casinos.
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