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 Foxwoods has become the latest U.S. land based casino operator to make the move to the online industry. Foxwoods Development Company LLC has announced that it is joining forces with entertainment firm Goodson Gaming to develop an international online gaming presence. The joint venture has been dubbed Velocity Gaming and it spells good news for future gambling regulation.
"Velocity Gaming brings together industry leaders in casino gaming, television game show production, and global lotteries in order to produce an unparalleled combination that will generate product awareness, drive incremental game play, and create new and exciting customer experiences in the interactive gaming world," reads a statement from Foxwoods Development.
Gary Armentrout, Foxwoods Development's President, sat down with local paper, The Day on Thursday to discuss the company's new plans. He told reporters, "We're proposing a unique business model combining a live TV game show with an internet gaming site and cross-promoting both to drive customers to the TV show as well as to the gaming site."
Goodson Gaming has a long history of creating popular shows. They have produced such popular lottery shows as "Make Me Rich," and "Illinois' Luckiest" and such popular games shows as "The Price is Right," "Family Feud," "Match Game," and "What's My Line?"
Mark Hutchinson, who will head the new company, said that Velocity Gaming will be a truly joint venture that will combine three sets of expertise, "I'm the lottery game guy. My partner, Goodson, is the TV guy, and Foxwoods Development is the land-based casino operator."
Armentrout said that for the moment, "This venture will in no way operate in the United States." Saying very slyly that, "We're going to pursue a license or licenses in those jurisdictions where internet gaming is fully legal, regulated, and taxed."
Considering that Foxwoods has a major investment in U.S. land-based casinos it is very apparent that the company is anticipating legalized and regulated online gambling in the U.S. In the near future.
As always stay tuned to Casinofan for more news and updates.
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