Online Casino News and Gambling News

April 15, 2009 - Online Casino Industry Preparing For Land Based Companies

Despite the introduction of the Unlawful Internet Gambling Enforcement Act there is a market, which the US seems to turn a blind eye to, being run by the very same companies that the US endeavored to eliminate when introducing the Act.

At present, online casino companies which are based in other countries are overpowering the US market.

However, if Representative Barney Frank is successful in changing the Internet gambling laws, the situation may change dramatically with a shift in online casino power.

Harrah’s Entertainment is already preparing itself for any changes that may be made to the US law by starting a new company and hiring the former chief executive of PartyGaming. PartyGaming is known to be one of the world’s most lucrative Internet gambling companies.

Harrah’s move will probably result in many other land based casinos to start preparing for legislation that will overturn the Unlawful Gambling Enforcement Act. Due to the present economic situation these casino owners are seeking other ways of generating revenue.

Licensing regulations for online casinos will probably have to be set up by the US and the handing out of these licenses will more than likely start at the US based casino companies.

Companies such as MGM Mirage, Wynn Resorts, Harrah’s and Las Vegas Sands will in all probability be some of the first companies to receive Internet gambling licenses.

The industry is now waiting in anticipation for Representative Frank to take the next step by introducing legislation to overturn the Unlawful Internet Gambling Enforcement Act in the next few weeks.

 

 

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