Is Vegas laying the groundwork for an entry to online gambling?

[jetset]

More positive comment on Internet gambling from leading American land gambling execs....


HOW LONG WILL THE UIGEA PREVAIL?

Voice of America says in Vegas there's a different view from that held by Washington

The Voice of America examined the Unlawful Internet Gambling Enforcement Act and its implications this week, commenting that gaming industry leaders think Internet gambling will thrive despite the enactment of the law on October 13 this year. And the influential medium says that some *traditional* U.S. casino operators view the rules as temporary and say a shift away from online gaming is unlikely over the long-term.

"Industry leaders, like Frank Fahrenkopf from the American Gaming Association, doubt it will be enough to stop U.S. gamblers," reports the VOA, quoting the leading US spokesman for gambling as saying: "I think what's going to happen is, number one, they will continue to bet. They'll find other means to get their money to these offshore sites".

"In Las Vegas, the home of American gambling, there's a different view of the 'Unlawful Internet Gambling Enforcement Act' from the one in Washington," the VOA remarks."While lawmakers aim to curb online gaming, Vegas is skeptical. Casino operators believe demand will force Congress to permit online gambling - under strict government supervision."

In the report, Rob Stillwell from Boyd Gaming predicts American companies will eventually be allowed to enter the [online gambling] market. "I think what it comes down to is a matter of licensing and a matter of regulation. So to the extent that we can create the mechanism by which to fairly regulate this business then I could see the more traditional, commercial gaming companies getting involved".

Stillwell hopes lawmakers will reverse course and permit U.S. companies to get a slice of the action. "I think what the government may come to realize is that people are gambling on the Internet anyway. And just because there's this legislation that maybe prevents U.S.-born companies from profiting from that type of activity, it's already happening".

The article points out that as U.S. officials work toward a June 2007 deadline to find ways to enforce the new rules - other countries are easing restrictions. The U.K. is looking to regulate rather than restrict online gaming, bolstering the hopes of Internet gambling businesses. Britain has warned that the U.S. legislation could drive the industry underground.

Fahrenkopf told the VOA that: "Money always has a way of finding its way to where it wants to go, so that's why I'm hopeful that the legislators, even those legislators who are opposed to all forms of gambling, will realize, number one, they're not going to stop it. Prohibition has never worked in this country. It's better to regulate it. It's better to control it, it's better to tax it".

The casino industry, fearing competition, has not always supported online gambling but now it sees the Internet as a way to attract new gamblers, claims VOA.

"For now the U.S. government is pressing ahead - first it must find out how to distinguish Internet gambling payments from other transactions in order to block them. But the American Gaming Association estimates $5 billion is still being bet online by U.S. residents - a number it believes is unlikely to go down, whatever action Congress decides to take next."

[Auditor]

We discuss this in Perspectives Weekly.

http://www.youtube.com/watch?v=fGyftHfY6Ek

Weekly webcast for the online gaming industry. This week we talk about the American Gaming Association and their "new stance" on internet gambling, and the possibility of new European online gaming legislation.




Anthony, APCW Auditing Director
www.apcw.org/law
Join the Fight!

[cipher]

The former Governor of Nevada Kenny Guinn started laying the frame work for Internet Gambling out of Nevada some 3-4 years ago when he authorized an appropriations bill for some $3,000.000.00 to study setting up the infrastructure for issuing 300 Internet Gaming licenses that would be issued out of and regulated through the Nevada Gaming Control Board.

Have a good one.

[jetset]

And more recently Nevada was on the verge of legalising in terms of its state authority but put it all on the back burner - apparently in deference to federal stalling tactics.

Nevada could be good to go at relatively short notice if this crazy UIGEA can be sidelined.

[dominique]

Vegas is poised and ready to go. I had an opportunity to talk to some folks here in Vegas and that is what I gather. What I kept hearing is "the next 3 years are going to be very exciting".