Foxwoods in Planning Stage to Develop Internet Gambling Site Based in Europe (Where it is Legal)

This isn’t surprising, but when I saw a news item in a New London, CT newspaper, I had to comment on it.

Foxwoods Development Co, the  Mashantucket Pequot Tribe’s St. Louis-based development arm, is in the planning stage of developing an internet gambling site where it is legal— in Europe.

Smart move. Very smart.

Apparently the group is teaming with Goodson Gaming, whose president, Jonathan Goodson, produced such hit television game shows as “The Price is Right” and “Family Feud.”

“We’re going to pursue a license or licenses in those jurisdictions where Internet gaming is fully legal, regulated and taxed,” Gary Armentrout, Foxwoods Development’s president, told the New London Day newspaper.

“We’re proposing a unique business model combining a live TV game show with an Internet gaming site, and cross-promoting both to drive customers to the TV show as well as to the gaming site.”

The site would feature casino-type games.

Online gamblers would be able to go to the site independent of the game show, but that “the connection to the game show is what makes this (venture) unique.”

The partnership, called Velocity Gaming, is negotiating a deal in a European country that Armentrout declined to identify.

“This venture will in no way operate in the United States,” he said.

This would be illegal in the U.S.

Foxwoods Development, an equity owner of the venture along with Goodson Gaming, is making no up-front capital investment in it, according to Armentrout.

“We are contributing our expertise in casino operations, games management and marketing in the same way Goodson is contributing expertise in television game show production,” he said.

I’ll keep my eyes out for this one.

Could be an awesome site.

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