L
ast week, the Commonwealth Casino Commission discussed the potential of internet gaming in the Northern Mariana Islands, which could potentially bring “fresh revenue” into the islands’ Commonwealth.
Casino Commissioner Diego Songao had earlier asked commission executive Andrew Yeom – who has 14 years of online executive gaming experience, and has worked with major online gaming firms in South Korea – to educate Songao on the operation of internet gaming and the benefits it could bring about. In response to his request, Yeom conducted research on the subject.
As reported by The Guam Daily Post, Yeom said on Thursday that his presentation during the CCC board’s monthly meeting at the Springs Plaza in Gualo Rai was strictly in response to Songao’s request, adding that it is not his intention to lobby for a bill that proposes to legalize internet gaming in the Mariana Islands, in reference to CNMI House Bill 22-47.
As an example brought to the session to provide a glimpse of internet gaming operations, Yeom referred to New Jersey where, during the shutdown of casinos in the area due to COVID-19, online casinos brought in more than $81 million in gross revenue in June 2020, resulting in $14 million in tax collection.
Yeom told the casino commissioners that if ever the CNMI government allows internet gaming in the territory, “it has to be done correctly”, as he predicted it could attract up to 2.1 million online gamblers annually, generating roughly $450 million in gross gaming revenue by the year 2025.
Based on his education project, Yeom foresaw that if internet gaming were to begin in 2022, it may bring in $28.1 million in gross revenue; in 2023, $112.5; in 2024, $252.6 million and in 2025, $449.4 million. However, according to The Guam Daily Post, he reiterated that these are “hypothetical numbers”, that are “for projection only”, since there is no practical data for the CNMI.
Original article: https://www.yogonet.com/international//noticias/2021/09/03/59137-potential-igaming-market-could-see-450m-ggr-by-2025-in-northern-mariana-islands
