Online gambling faces a hurdle within the industry

|By:, SA News Editor

The American Gaming Association has dropped support for legalizing online gambling after seeing some major divisions between members on how a roll-out should progress.

Casino heavyweights have bickered over what the regulatory framework should be for the industry.

Though the launch of online gambling in Nevada, New Jersey, and Delaware hasn't gone as well as expected with offshore operators still dominating, Morgan Stanley forecasted the legal online gambling market could reach $8B a year by 2020.

Related stocks: TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MCRI, ISLE, CNTY, IGT, BYI, PTEK, MGAM

Related ETFs: BJK