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Howard Stutz of the Las Vegas Review Journal on Sunday notes that it appears legalization of Internet poker could be coming soon and that the Subcommittee of 12 Senators and 12 Representatives placed in charge of finding $1.5 trillion in debt savings over a 10-year period will want to examine the prospects of a multi-billion dollar industry coming to the States.
From the Las Vegas Review Journal:
With estimates of Americans having wagered $6 billion annually on the activity, Internet poker proponents said there is just too much money -- and too many potential tax dollars -- on the table for the committee of six Republicans and six Democrats not to at least consider federal legalization and regulation.
"There's a lot of speculation that the committee will take a serious look at Internet poker," said Las Vegas attorney Greg Gemignani, who is chairman of the technology and Internet division of Lionel Sawyer & Collins' gaming practice.
Among those serving on the committee are none other than Arizona Republican Senator Jon Kyl who helped co-author current legislation the prohibits banking institutions from allowing online gambling transactions. His stance has since changed somewhat as it applies to regulating Internet poker.
Should the activity become legal, Nevada would serve as the hub. That state has already passed a measure into law that would permit online poker rooms to operate in places like Las Vegas while accepting players from across the US. The law will not go into effect, however, until federal legislation is passed.
- Chris Costigan, Gambling911.com Publisher
