Harrah’s Entertainment has formed a subsidiary company that will tackle the growing and lucrative online casino market. They have hired former PartyPoker CEO Mitch Garber to run the new branch of the gambling company. His focus will be to expand the World Series of Poker (WSOP) brand. The company will be zoning in on Europe for now but is preparing to take advantage of possible changes to US law in the near future.
Rep. Barney Frank has again proposed legislation that will legalize but regulate the internet gambling industry in the United States. With the change in administration and the economic downturn, many people are expecting the bill to be passed this time around. If it does get passed, Harrah’s would be in a prime position to obtain one of the first licenses to offer internet gambling to US citizens.
The company has plans to launch WSOP-branded poker sites in Europe with the possibility of a free play site for the US market. A free site would also make it easier and smoother for Harrah’s to transition to regular online casino websites once it becomes legal.
Gary Loveman, CEO of Harrah’s Entertainment issued a statment which reveals the strategic creation of the new subsidiary.
“Harrah’s is taking a proactive approach towards international and interactive expansion,” he said. “It is important that we position ourselves to explore new markets as well as new technologies with our best in class brands.”