Richard Schuetz, the owner of Schuetz LLC, stated his belief that California is the largest gaming state in the United States, and it represents the country’s largest market opportunity for the betting and gaming industry.
Speaking at last week’s SBC Summit North America, Schuetz emphasized that the Golden State is the biggest gaming state in the US, not Nevada as some people would claim.
“A lot of people are running around right now arguing that they know a lot about California, and I think what their background is is that they visited Disneyland once. I was appointed twice by the Governor as the Commissioner in California,” he stated.
“I was the Consultant to the Governor’s Office on iGaming and I was Consultant to the Senate on iGaming. I also have a great deal of familiarity with the Tribal environment.
“A lot of people don’t seem to understand that California is the largest gaming state in the US. A lot of people would argue that it is Nevada – but it’s not, and that’s across all verticals, like lottery, horse racing, card rooms, and tribal casinos.
“Right now it looks like there could be as many as four ballot initiatives next November about gambling – many are conflicting, and it’s estimated that up to $200m is going to be spent on that effort. It’s a very complicated story.”
Schuetz highlighted that California’s population and economy represent a huge market opportunity for the US betting and gaming industry.
With a population of nearly 40 million, the state has the fifth-highest GDP in the world – bigger than both the UK and India – and annually attracts around 220 million visitors.
Should legal sports betting expand into the Golden State, Schuetz proclaimed: “Anything up to that point in time is going to be dwarfed by California, if it goes legal.”
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