Press of Atlantic City – Fewer than half of Atlantic City’s casinos have received the approvals needed to begin Internet gambling trials this week. But that might change today as regulators will likely vote on a licensing arrangement that could bring the resort’s four Caesars Entertainment properties into the mix.
Caesars Interactive Entertainment, a subsidiary of Caesars, is seeking a license from the New Jersey Casino Control Commission. Unlike other Atlantic City casinos that applied for Internet gambling permits through their existing licensed casinos, Caesars is instead attempting to license its Internet gambling subsidiary, which it already uses to operate Internet gambling in Nevada and abroad.
In a hearing today, New Jersey regulators will likely scrutinize the company’s financial stability and the past dealings of Caesars Interactive CEO Mitch Garber, who was recently flagged by Massachusetts regulators over his prior companies’ involvement in non-prosecution agreements tied to past illegal Internet gambling.
Garber’s appearance in New Jersey today as a witness in the Caesars Interactive hearing will mark the first time that he could be asked to address the concerns in a public forum. Company representatives could also be asked to address the $23.7 billion debt burden carried by parent company Caesars Entertainment and a plan to transfer some of Caesars’ assets to Caesars Growth Partners, a separate publicly traded company also headed by Garber that has drawn concern from financial analysts.
