TLDR:
- Venture Capital Chief, Edward King, believes that California will soon legalize online gambling due to the potential tax revenue.
- Not everyone agrees with this sentiment, with Victor Rocha of the Pechanga Band of Luiseno Indians expressing skepticism.
During a panel discussion at the Next.io conference in New York, Edward King, a partner of Acies Investments, confidently stated that California will legalize both online casinos and sports betting in the near future. King cited the significant tax revenue that could be generated from a state as large as California as the main driving force behind this prediction. However, Victor Rocha, the Conference Chair of the Indian Gaming Association, expressed doubt in this assertion and criticized King’s outlook in a tweet labeling him as a “moron”.
The discussion also touched upon the potential legalization of online casinos in states like New York and Maryland. Shawn Fluharty, a West Virginia state delegate, and Brandt Iden, vice president of government affairs for Fanatics, highlighted New York and Maryland as states with favorable prospects for legalizing online casinos. However, recent developments in both states, such as New York’s omission of an iCasino bill in the governor’s budget report and opposition from the Maryland Retailers Association, have posed challenges to the advancement of these initiatives.
Overall, while there is growing momentum towards the legalization of online gambling in various states, differing opinions and obstacles continue to shape the landscape of the industry.
