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US – Caesars warns of online risk to business

By - 9 December 2013

Having just launched three internet casinos in New Jersey, Caesars Entertainment is now warning that online gaming could dent its finances rather than boost it.

The operator, who went live with CaesarsCasino.com, HarrahsCasino.com or WSOP.com at the end of November, believes the option to play online could reduce customer desire to play in live casinos.

In a report to the US Securities and Exchange Commission, Caesars said: “Caesars will, and other online providers do, offer online gaming options that compete with our live poker offerings in Nevada and New Jersey. Expansion of online gaming in Nevada, the commencement and expansion of online gaming in New Jersey and the introduction of online gaming in other jurisdictions may further compete with our operations. Online gaming may reduce customer visitation and spend in our traditional casinos in Nevada and New Jersey, which could have an adverse impact on our business and result of operations.”

It added that Harrah’s Resort Atlantic City, Caesars Atlantic City, Bally’s Atlantic City and the Showboat Casino Hotel could see attendance drop as their games can now be played online.

Caesars Spokesperson Gary Thompson explained that the company had to list any potential risks to its bottom line in such filings for legal reasons with other listed risks including war, a terrorist attack and another economic downturn.

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