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Congressman Frank's next attack on the UIGEA is nigh
According to Reuters reports as the week ended, the next substantial attack on the controversial Unlawful Internet Gambling Enforcement Act 2006 could commence as early as mid-March 2009.
Spearheaded by Congressman Barney Frank, who chairs the House Financial Services Committee, the proposal will seek to repeal the disruptive and much-criticised three-year-old U.S. ban on Internet gambling financial transactions that has caused billions in losses and hurt US trade ties with the European Union.
"I'm going to be pushing it," Frank told reporters at a press conference to lay out his agenda for reforming U.S. financial regulation.
One of Frank's aides added that work on drafting the legislation should be completed soon.
Advocates of overturning the UIGEA say it is an unwarranted impingement on personal liberty, and point to independent estimates that the United States could raise nearly $52 billion in revenue over the next decade by taxing and regulating Internet gambling instead of trying to prohibit it.
Controversial "carve-outs" in US law that permit online gambling in the horseracing, fantasy sports and state lotteries sectors have also been heavily criticised as inequitable, leading to major World Trade Organisation decisions going against the USA.
Adding fuel to the fire, the London-based Remote Gambling Association has accused the U.S. Justice Department of singling out European online gambling companies like PartyGaming, Sportingbet and 888.com for prosecution while allowing similar U.S. companies to operate freely through the Internet. This has resulted in a European Commission investigation, the results of which are expected to be released soon. Insiders claim that the report will confirm that there are grounds to take further action against the United States at the World Trade Organisation, although a negotiated resolution would be preferred.
Bail-out critical American tax-payers will also be interested to learn that other items on Congressman Frank's agenda include a March 24th hearing with the U.S. Attorney General, FBI, SEC and bank regulators on potential criminal and civil prosecutions of "...those responsible for irresponsible loans, securitization and the resulting U.S. financial crisis." He will also push for legislation to restrain securitisation, anticipating that $7.6 billion of TARP (Troubled Asset Relief Program) bailout money will be returned to the U.S.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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