Caesars CEO: Poker indictments present opportunity

LAS VEGAS (AP) — The chief executive of the world’s largest casino company says federal indictments targeting the three largest online poker companies present an opportunity for the United States to fully legalize and regulate the $6 billion industry.

Caesars Entertainment Corp. CEO Gary Loveman says in an opinion piece Tuesday on CNNmoney.com that the legal actions against PokerStars, Full Tilt Poker and Absolute Poker won’t change whether millions of Americans want to play online poker.

Loveman says the United States should seize the moment to generate revenue and jobs.

The indictments accuse the online poker operators of fraud and money laundering to trick banks into processing funds for illegal gambling.

Loveman’s comments are the first public statements about the indictments from the company that owns the World Series of Poker.