The founder of Virgin Records, Richard Branson, is no stranger to taking risks. He’s never been afraid of putting money on a long shot in hopes of the bet paying off big and tackling U.S. online casinos might be his riskiest move to date.
Virgin Gaming Group announced in 2010 they had established a strategic partnership with Tropicana in hopes of launching a series of USA iGmaing websites. The plan at the time was to concentrate on jurisdictions with more relaxed legislation like Nevada, New Jersey, and California, then slowly open up products to all 50 states. However, there has been a huge political backlash against virtual operators by Republicans and one of their number one financial contributors, Sheldon Adelson.
Industry heavy-weight Gamesys supplies licenses to both Virgin Games and Virgin Casino and are ready to go “all-in” on America. They’ve recently sold a few brands to competing companies for a whopping £425 million and Virgin CEO Simon Burridge has hinted this windfall might be invested in a joint venture.
As they’ve not been able to get a strong foothold in the United Kingdom, this opportunity might be Branson’s last shot at glory.