Morgan Stanley predicts online gambling will overtake Vegas casino revenue by 2020

Online gambling revenue has been projected to overtake Vegas and Atlantic City casino revenues as reported in a study by Morgan Stanley.

The projections are based on Boyd Gaming which offers Hotels, Gambling and resorts which recently benefited from the legalization of online gambling in New Jersey.

Morgan Stanley says that Boyd Gaming represent the best example of a stock that will benefit from the legalization of online gambling and the best company to base its estimates on.

Online gambling is predicted to be a $670 million industry in 2014 and a $9.2 billion dollar industry by 2020 taking in the combined 2012 gaming revenues of Las Vegas ($6.2 billion) and Atlantic City. ($3 billion)

The US online gambling industry was a $7.5 billion industry in 2006 before online gambling was banned.

The Boyd gaming stock is currently listed on the New York Stock Exchange and is trading at $8.48.

[ratings]