Donald Trump preparing for Online Poker

by Jeremy

There is no timetable for when online poker could be legalized in the United States. However, it appears as if billionaire casino/real estate mogul Donald Trump is confident online poker will be legalized in the near future since he’s preparing for a new venture.

Recent news from BusinessWeek indicates that he’s already partnering with New York City hedge fund manager Marc Lasry to form a possible online poker site if legalization is enacted. More specifically, Trump Entertainment Resorts Inc. would go in with Lasry’s Avenue Capital Group to start this proposed online poker room.

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Even if online poker isn’t legalized on a federal level, Trump and his group could take advantage of the situation on a state level since New Jersey is strongly considering their own poker operation. And if this happened, Trump Entertainment is well-positioned since they have three different casinos in Atlantic City.

While the Donald himself hasn’t been interviewed on the matter yet, his hot daughter Ivanka Trump did a telephone interview about the proposed online poker plan. The 29-year-old told reporters, “It’s just a matter of time. It would be a tremendous source of taxable revenue for states or the federal government and an enormous generator of jobs.”

We’ve been hearing the same thing that Ivanka said for a couple of years now, and it’s enough to make one wonder when/if online poker will ever be totally legalized in the US. Currently, lots of offshore poker sites operate in the country, but they don’t pay tax revenue. So the US is looking for a way to regulate the activity in order to get a cut of the action. Many believe that regulation could happen in 2012 sometime.