The Plan To Take the Online Gaming Market - US Gaming Firms Tale of Shame

Steve Roman March 14th, 2007

1. Pass legislation to get rid of foreign competition - The US Casinos had fallen so far behind the competition at this point that they didn’t have a chance of winning on merit. No matter - Senators are cheap. Although the majority of Americans disagreed with its contents, the bill was snuck through by Bill Frist with the laughably stupid claim it would protect children and stop terrorism.

2. Establish an Online Presence – Of the majors, only LV Sands has had the gall to announce it was starting to establish an online presence. For now it will stick to Europe through a partnership with Cantor Gaming. Make no mistake, this is a trial run for the US market. Other casinos are sure to follow.

3. Repeal the Gaming Act – The majority of Americans support it. The senators have already been paid off. And Chanos is long (kidding!). The trial balloon was floated today by Barney Frank who called it: one of the “stupidest laws” ever passed and said he wanted to “repeal” the law.

The entire affair, the arrests and the tough talk were exactly what they seemed - protectionist measures by “useful idiot” politicians.

[Cross-posted from NastyBrutishAndTall]

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Comments(2)

2 Responses to “The Plan To Take the Online Gaming Market - US Gaming Firms Tale of Shame”

# Chris. F. Masse on 15 Mar 2007 at 6:33 am

Online gambling ban reconsidered
http://www.reuters.com/article.....0820070315

U.S. Rep. Barney Frank is considering a bill to repeal a ban imposed last year on online gambling, said a spokesman for the lawmaker on Wednesday. “Chairman Frank is considering legislation,” said Steven Adamske, spokesman for the Massachusetts Democrat, who chairs the House of Representatives Financial Services Committee. Adamske said Frank is still thinking over the issue, has not drafted a bill and has no timetable for action.

Rep. Frank eyes Web gambling ban repeal
http://www.businessweek.com/ap.....S7J2G1.htm

Thanks to Daniel Horowitz for the tip.
# Chris. F. Masse on 16 Mar 2007 at 7:17 am

US Rep. Frank: Details soon on online gambling
http://investing.reuters.co.uk.....NGRESS.XML

“I’m not ready to give you more details, but I will be by next week or so. We’ll talk more about it later. There’s no urgency on it,” he said.