U.S. Digital Gaming CEO Jon Richmond: Allow California’s Technology to Become the Global Industry Leader; Let the Golden State Reap Economic Benefits
LOS ANGELES -- (BUSINESS WIRE)--As state lawmakers gather this week to consider pending legislation that would legalize online gambling, U.S. Digital Gaming, the nation’s leading all-American online gambling operator, says it is time to let California become a global technology leader in the emerging industry – and capture the massive financial benefits that could come to the Golden State.
“There is no reason for California to be a spectator to the emergence of online gaming in America – we have the Jack Nicholson tickets and we should take our rightful front row seat,” explained Jon Richmond, the company’s Chief Executive Officer, whose company is headquartered in Los Angeles. “From Apple to Zynga, this state has always been a pioneer in worldwide technology – technology that can drive a safe, secure and vibrant online gaming industry. Why wouldn’t we move ahead with legalization and spark a new wave of innovation and job creation here in our state?”
According to Richmond, technology and creativity is the real fuel to this new industry that has grown throughout Europe, operated illegally for years in the U.S. and now seems poised for legalization in a number of American jurisdictions.
“Every aspect of this emerging industry has its roots in California, from financial transaction security to social gaming. And, who knows what next, great breakthrough can come from our world-class, homegrown technology sector?” Richmond related. “For years, offshore operators and illegal play dominated this space of the Internet. This blatant disregard for law and regulation resulted in loss of millions in tax revenue. Today, however, the federal government has cracked down on illegal operators. So, let’s now proceed to create a lawful, taxed, highly-regulated and transparent industry with California as its hub.”
The biggest benefit of all, Richmond explained, is the financial windfall that could come to California through the legalization efforts.
“Our U.S. Digital Gaming (USDG) analysts have concluded that the California gaming market – for just online poker – could generate tax revenues to the state of over $2 billion over ten years at the currently contemplated 10% tax rate. Imagine how many repairs that would fund on UC campuses or state parks it would reopen or medical professionals it could return to slashed healthcare programs. While political leaders consider more cuts and more tax increases to keep the state afloat, this is the best life preserver that I’ve seen. We shouldn’t wait another year to put this online factory to work for the benefit of California.”
ABOUT U.S. DIGITAL GAMING
USDG is a leading American gaming operations company, with a complete system for legalized online gaming in the U.S. Given its proprietary technology platform, coast-to-coast government relations, regulatory expertise and best-in-class marketing, USDG is positioned as the industry’s premier online gaming company. Headquartered in California, USDG is led by long-time veterans of gaming, entertainment and technology. For more information, visit http://www.usdg.us.