MGM prepared for online business
Casino operator MGM Mirage has given its backing to Barney Frank's proposed Internet Gambling Regulation and Enforcement Act, adding that it would get involved in online gambling as quickly as it could should the US legalise the market. Senior vice president Alan Feldman said that the Las Vegas-based firm would have a site up and running within a year, and predicted that all of the major entertainment companies would get involved in the sector at some level.
Feldman also said that MGM's attempt to operate an internet casino from the Isle of Man had failed because it was competing for only 30 per cent of the market, not enough to be profitable.
"But with the U.S. market under Frank's proposal, it would be profitable," he declared.
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