decker
191
2010/11/17 22:21
#282913
Manne wrote:
The head of the casino industry's top trade group says things haven't changed much in commercial gambling the past year, with consumer spending still down because of the recession.
Frank Fahrenkopf of the American Gaming Association said Tuesday that third-quarter gambling revenue in commercial U.S. casinos rose 1.3 percent, to just over $8 billion.
That's about $100 million more than casinos took in during last year's third quarter, and Fahrenkopf says revenues have been almost flat like that all year.
Companies that have a strong foothold in Asia have fared better than those that don't. The Chinese enclave of Macau is the world's top gambling market.
Fahrenkopf spoke at the Global Gaming Expo in Las Vegas.
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2009/05/08
Messages:
191
The current laws in the US regarding online gambling are largely a product of a lame-duck session back in 2006. A Republican majority Congress pushed through the Unlawful Internet Gambling Enforcement Act on the heels of a border protection bill. It was a shady way to get the law passed, but not a tactic that has not been used before.
Now, Democrats in the House and Senate can return the favor if they can push through Representative Barney Frank's online gambling legislation in the final months of their majority. Republicans will gain control of the House in the new year.
If no legislation is passed, an online gambling regulation bill would likely have to be initiated by the Senate in 2011. In the first day of the lame-duck session Monday, the buzz surrounding Washington was more about tax cuts and new leadership positions for the new year.
As the week wears on, outgoing legislators may start to push bills that will not see the light of day in 2011. While Rep. Frank is not part of the outgoing group, he has been around long enough to understand that it will be nearly impossible for his bill to succeed once the Republicans gain the majority in the House in January.
Frank has commented in recent months that he does not think the legislation will be passed in 2010, but a last minute change of heart is always a possibility. If Frank can find a jobs bill that will be voted on in the next month, he may try to attach the online gambling legislation.
Online poker players will become the biggest losers if the current laws do not change. Online players are now, by the millions, flocking to foreign-based websites to play poker. These sites are not regulated or licensed by the US, leaving these millions of US residents at the mercy of the foreign companies.