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CNBC: Risky business – Caesars exec bets on online gaming

Mitch Garber wants investors to put their money on online gamblingthat is if the industry can outmaneuver casino mogul Sheldon Adelson and spread to more than three states.

Garber, the CEO of the newly public Caesars Acquisition Co. (which includes interactive ventures), must contend with the clout of the billionaireLas Vegas tycoon, who spoke to the Washington Post this week about his campaign to ban Internet gaming.

But the Caesars executive remains optimistic that more states will legalize the practice, in particular New Jersey, which plans a test run.

“We look at it as the second domino wave of gaming,” he said Thursday on “Squawk on the Street.” “It started with Nevada and New Jersey with real, land-based gaming. This is the online version of that. Nevada first and New Jersey second. Other states come one at a time.”

- By Jeff Morganteen