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To: Glenn Petersen who wrote (242)	7/8/2009 11:47:54 AM
From: JakeStraw	Respond to of 266

Goldman Sachs, has predicted that the United States will legalize online Poker and Internet Casino gambling, resulting in a $12 billion marketplace. "We believe it is logical to assume that the US market will eventually regulate -- given the potential implications for US tax take, if nothing else," the bank said in a note to investors last week. "Were the market to be legalized, we believe that the size of the revenue opportunity could increase materially," it continued. "Based on an assumption of 30% penetration of offline poker players and $300 gross gaming revenue (GGR) per player, we estimate that a legal poker market could be worth $3bn." The report continued: "Were GGR to increase to 45%, and GGR per player rise to $400, the size of the poker market alone could be worth $6bn. We also estimate that the casino market could expand to a similar scale, based on various offline penetration assumptions." The firm cautioned that progress on changing the legislation prohibiting online gambling in the U.S.A. will be very slow on the federal level. It also said that progress on changes regarding the laws will progress faster on the state level, as U.S. states such as Florida and California move to capitalize on the online poker trend to raise much needed revenues from taxes. pokerpages.com