Major Casinos Looking at Online Gambling

05 October 2010

Newspaper

There has been a lot written lately about the online gambling regulation in the U.S. this year. Proponents of legalizing and regulating internet gambling have seen positive and negative so far from Barney Frank’s H.R. 2267  passing a markup vote to the NFL changing its stance to California denying an effort to legalize online poker to now the major land base casino’s changing their tune about legalizing online gambling.

According to Barry Meier who wrote in a New York Times article today, the executive of the American Gaming Association representing major casinos like Harrah’s Entertainment, MGM Resorts and Wynn Resorts said they are currently working on a proposal that will at least legalize some form of online gambling.

In late May of 2010, the American Gaming Association was reported to have spent $430,000 in the first quarter of that year lobbying federal officials about online gambling regulation. Then again in August 2010, it was reported they spent another $326,000 on the second quarter. No detail of its proposed legislation has been finalized and it is not sure if it will have any association to H.R. 2267.

It is speculated though that online poker will be the form of gambling that is being pushed by the major land based casinos. This form of gambling is considered by them the least likely to become a direct competition to profits.

According to Mr. Frank J. Fahrenkopf Jr., chief executive of American Gaming Association, they have been looking into the issue of online gambling for two years now. He noted that the reversal in opinion came when an industry study concluded that online poker would not cut into casino profits as it had been feared it would.

Related News

  • 08 February 2016

    Bill for Online Poker in New York Gets Traction

    The situation with online poker in the United States is extremely tricky. Because the game is unlikely to be regulated on a national level, it's up to the states to regulate things one at a time. New York has been one of the states putting up the most resistance to regulating the industry, but a recent development has put players in a position of being a bit more hopeful than before.

    Read full article
  • 28 January 2016

    Russia Could Legalize Internet Poker Games

    In the past, Vladimir Putin has expressed an interest in legalizing online poker because of the sport and competition elements of the game. A lot of industry experts assumed it most likely wouldn't actually happen, but they could have been mistaken. Business Insider published an article recently that builds a pretty strong case for Russia being about to legalize the industry instead of carrying on with the current ban.

    Read full article
  • 06 January 2016

    Three California Betting Bills for Consideration

    The Government Oversight Committee of the California state legislature has put a lot of emphasis and priority on a hearing that's happening on January 6. The point of this hearing is to look at legalizing intrastate online poker along with the same for sports betting and daily fantasy sports. One of the bills is the Internet Fantasy Sports Game Protection Act, and it was introduced back in September.

    Read full article