American Gaming Association Calls for New Regulations
05 October 2011
In an industry conference in Las Vegas, Chief Executive Frank Fahrenkopf of the American Gaming Association said he would like Congress to table all the current proposals in front of them and pass an all new regulation that would allow states to decide whether to all online gambling.
There is an estimated $6 billion at stake and according to Fahrenkopf, “We’re perhaps closer to federal legislation than we’ve ever been. There’s a buzz in Washington about the need for action.”
Part of the buzz is coming from the April indictments handed down against PokerStars, Full Tilt Poker and Absolute Poker. Fahrenkopf said the indictments showed that online poker companies have the capability of making billions of untaxed revenue if they remain unregulated.
“The fact is that, despite the (indictments), millions of Americans are still betting billions of dollars a year on foreign poker websites, sites outside the reach of US law enforcement, leaving US players vulnerable,” he said.
Proposals presented by Rep. Barney Frank, D-Mass., and Rep. Joe Barton, R-Texas are not what the industry needs according to Fahrenkopf but does admit Barton’s proposal is close but is also losing support from lawmakers.
The AGA has released a video comparing the online gambling market to the Wild West. It also went as far as releasing a 6 point code of conduct that includes regular audits of poker software, tight technological controls to prevent kids from gambling and procedures to prevent money laundering.
16 November 2015The AGA Has Taken a Position on Daily Fantasy Sports Regulations
The American Gaming Association has had what some would consider a questionable history when it comes to supporting online gambling in the United States. Because their primary backers are those involved with land-based gambling, it's hard to know exactly where their motives lie when they make statements about the online sector, and this includes daily fantasy sports. They've made some statements about DFS, and it seems like they're wanting to use it as leverage to expand sports betting.Read full article
17 September 2015Playtech's Teddy Sagi Strong on Israel Wealth List
In the online gambling world, Teddy Sagi is a big name when it comes to the business side of things. He has had strong ties with Playtech for a very long time, and he is currently their principle shareholder. Sagi is known for making a lot of major deals in different industries, and his deals so far this year have seen him almost double his net worth. This has shot him up on the list of the most wealthy individuals in Israel, and he is currently in the number six spot on the list.Read full article
23 July 2015Casino Saga to Become Casino Heroes After Name Request
In the online gaming world, a name can mean everything. We've seen tons of situations in the past of lawsuits over one company using a name that's too similar to that of a competitor, and we've recently seen another potential lawsuit be sidestepped by Casino Saga. King is the owner of Candy Crush Saga, and they requested that Casino Saga change their name to avoid a lawsuit over the branding. Casino Saga has agreed to change their name. Upcoming RebrandingRead full article