Big money behind Internet gambling

October 31, 2011 12:33 pm

Several wealth billionaires are behind efforts to get the federal government to legalize Internet gambling, Forbes magazine reports.

Former Mirage Resorts executive Richard Bronson has rounded up several deep-pocketed investors that include billionaire real estate mogul Steven Roth, chairman of Vornado Realty Trust, and shopping mall magnate Herbert Simon, the owner of the Indiana Pacers.

“They are all in it for the long haul,” says Bronson, who also signed up Robert and William Taubman, sons of billionaire Alfred Taubman. “Not one of them thinks this will be a sprint, they think it will be a marathon.”

Donald Trump has also teamed up with a hedge fund to form a company that will be ready to use the Trump name is Internet gambling is legalized. Such a move would allow people to gamble from their home or cell phone, essentially putting a casino at everyone’s fingertips. The ease of access will surely result in an increase in problem gamblers, and especially tap into younger gamblers all looking for a quick payday. What gamblers forget is .

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