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When you think of the word “rich,” one of the first things to pop into your mind is probably Donald Trump, the infamously wealthy real estate magnate perhaps best known as the host of reality TV show “The Apprentice.” Trump always seems to have his hand in a new lucrative venture, including an entertainment company, hotels, bottled water, a vodka brand and a clothing line. A couple of months ago, Trump even threatened to join the 2012 presidential race if a “proper Republican candidate” didn’t arise.

Although Trump has since abandoned his presidential hopes, it appears that he has once again turned his attention to profitable business dealings, this time in the form on an online gaming site.

Bloomberg reports that Trump has partnered with Marc Lasry, a similarly-wealthy hedge-fund manager, to lay the initial plans for an online gambling company that would go live if and when the legality of real money online gambling is finalized in the United States. The company would be formed and funded through a partnership between Trump Entertainment Resorts and Avenue Capital Group, Lasry’s company.

The announcement comes thanks to the revealing of a regulatory filing lodged with the SEC (Securities and Exchange Commission). Trump’s company would own just 10% of the new online gambling site.

In an interview with Bloomberg, Trump’s daughter Ivanka said that the legalization of online gambling in the U.S. is “just a matter of time,” and that such progress would represent a “tremendous source” of revenue for the federal government, the states or both depending on how online gaming income would be taxed. That point is pretty difficult to argue against, especially given the ongoing budget crisis faced by the federal government.

This coming Tuesday, the House Subcommittee on Commerce, Manufacturing and Trade will hold a meeting under the topic of “Internet Gaming: is There a Safe Bet?” Although online poker legalization in the U.S. could be months or even years away, it’s encouraging to know that lawmakers are currently exploring the possibilities.