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CAESARS Q2 GAMBLING LOBBYING TOPS $800 000
Tuesday August 16,2011 : Sizeable chunk of investment is on the legalisation of online gambling
Gary Loveman, the CEO of the giant US land gambling group Caesars Entertainment, has been consistent in recommending the federal legalisation of online gambling in the United States, and the latest lobbying numbers revealed through mandatory disclosure to Congress shows that the company is investing substantial sums in the concept.
Caesars Entertainment declared a total of $821 000 in its Q2-2011 lobbying advisory to the clerk of Congress, a startling 23 percent of the total lobbying spend by parties with an interest in regulated internet gambling during the quarter.
However, with major 'contributors' like Pokerstars and Full Tilt Poker likely out of the running after Black Friday, the Q2 lobbying spend actually decreased by some $326 000 compared with that invested in Q1-2011.
For example, PokerStars’ lobbying spend dropped by 19 percent in Q2 - the first time in almost two years that the company's investment in this activity has actually declined. The Interactive Gaming Council and the Poker Players Alliance, each probably also impacted by the US exclusion of major supporters, also slashed Q2 lobbying budgets by 28.3 percent and 7.1 percent respectively.
Interestingly, a European contender surfaced on the US lobbying scene for the first time; France’s Betclic Everest Group declared $50 000 in lobbying spend, presumably with the goal of getting a foot in the door when the US legalises online poker, an event that appears increasingly likely.
The usually well-informed Las Vegas Review-Journal reinforced that view last week, reporting that the veteran Democrat Congressman from Nevada and Senate Majority Leader, Harry Reid, had told one of its staffers that online poker would be legalised, and would be good for Nevada.
That was interpreted as an indication that major Nevada land gambling groups would likely get the first licenses, with more issued to tribal gambling operators in order to avoid controversy.
Caesar's hyper-active chief exec was also interviewed by the UK newspaper the Financial Times this weekend, where he is reported to have said that the US crackdown on Black Friday had left a vacuum in the market that needed to be filled by responsible and legal operators.
Loveman added: “I do believe there is a will in Congress to correct this …. we ought to clean up the regulatory and policing environment and that’s what we’re seeking.
“First, it creates the appropriate legal and enforcement environment where the game is being provided fairly by regulated entities that are known to the American authorities.
“Second, there’s a lot of job creation associated with this; we could provide thousands of American jobs if given the right to do so and there would be the benefit of tax revenues."
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Gambling News :
Wanajump Launches -
#Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.
Coral Launches player proposition betting product -
Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.
Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
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