With the U.S online gambling market slowly opening up, many industry moguls are asking the question of just how much the legal online gambling market is worth. A recent report from leading investment analyst firm Morgan Stanley sheds some light on this potential goldmine in one of the most lucrative global markets.
Analysts at Morgan Stanley estimate that by 2020 online gambling in the US will equal that generated by the Las Vegas Strip (6.2 billion) and Atlantic City Markets($3.2billion) combined in 2012.Currently they estimate online gambling to reach $670 million by 2014 and increasing to a mind blowing $9.3 billion in 2020.
One of the biggest gaming companies to benefit from such a positive assessment is that of Boyd Gaming. Their shares were upgraded by Morgan Stanley to Overweight this week which saw the share price spike by over 14% to about $9.40 on Thursday.
While these estimates sound big many believe that these could be very conservative and that the real value of the US online gaming market is much larger. With states like Nevada, Delaware and New Jersey already in the process of launching the real money option, what seemed a pipe dream a few years ago is becoming more of a reality by the day.
We look forward to following the US on their road to becoming a global powerhouse in the global gaming world where the payoffs are limitless.