NEW YORK, NY -- (Marketwire) -- 06/18/12 -- Casino and gaming companies have been increasing their focus on the online gambling market. The Justice Department on Dec. 23 has said that they would not interfere with states legalizing online gambling sites not including online sports betting. California and Nevada are among the states considering boosting revenues from the legalization and taxing of online gambling. The Paragon Report examines investing opportunities in the Casino Gaming Industry and provides equity research on International Game Technology (NYSE: IGT) and Shuffle Master, Inc. (NASDAQ: SHFL).
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"When you have a gold mine this big it's only a matter of time," said Brock Pierce, managing director of the Global Gaming Fund at Clearstone Venture Partners. "A lot of billion-dollar companies will come out of this in the coming years." Richard Bronson, chairman of U.S. Digital Gaming, expects there to be legal gambling sites online as early as the first quarter of 2013 as the state of Nevada has already authorized online gaming.
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Shares of International Game Technology surged over 14 percent Thursday as they announced plans to buy back up to $1 billion of its common stock. The company recently received unanimous recommendation from the Nevada Gaming Control Board (NGCB) for an interactive gaming service provider and manufacturer license. Nevada is the first US state to adopt statutes for the allowance of online gaming, and the NGCB is the first regulatory body in America to award interactive gaming licenses.
Shuffle Master is a leading global gaming supplier committed to making gaming more fun for players and more profitable for operators through product innovation, and superior quality and service. Aristocrat, Shuffle Master, and Ongame Network recently announced a partnership that will bring together Aristocrat's award-winning iGaming platform (nLive) with a premier online poker solution.
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