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Barney Frank to launch another legislative attack on Uigea
Barney Frank, the Democratic Party's chairman of the House Financial Services Committee and a strong supporter of legalising online gambling in the United States, is preparing to launch another legislative attack on the controversial Unlawful Internet Gambling Enforcement Act, according to a Reuters report as the week ended.
Frank has been a consistent opponent of the Act, which disrupts financial transactions with online gambling companies and has caused billions of dollars in losses in European companies, major foreign trade hassles for the USA and extra work for a confused and already over-extended financial services industry charged with enforcing the act.
Passed in a late night session of a Congress about to go into recess, and attached to a completely unrelated "must pass" security bill, the UIGEA has been controversial and widely criticised from its inception in late 2006, when it was signed into law by former US president George Bush, precipitating an exodus from the US market of major publicly listed and reputable gambling groups.
Government agencies trying to draft regulations supporting the politically ill-considered law subsequently admitted difficulty in framing sufficiently precise provisions, causing the drafting process to go way over deadlines, and a last-minute rush by an outgoing administration to bring the regulations into force.
Although the regulations have been in place for only a few weeks, the adverse impact of a confusing law (the lack of a definition of "illegal gambling" is a major fault) is already being felt as a financial services industry that is already under pressure errs on the side of caution in blocking "illegal" transactions.
This week a member of Congressman Frank's staff confirmed that the respected political leader plans to introduce legislation to repeal the UIGEA.
"The bill introduction should happen in the next month," the aide told Reuters. "Mr. Frank will bring back legislation to repeal the UIGEA ."
Congressman Frank's attempt to overturn the UIGEA comes against a background of continued pressure from the government of Antigua and Barbuda, which has conducted a fierce and so far successful fight in the World Trade Organisation against the UIGEA and the inequities of US anti-online gambling laws.
In addition, the European Union has taken up the cudgels for major online gambling companies in Europe prejudiced by the law. Whilst EU officials have said a negotiated resolution is preferred, a complaint to the WTO is on the cards should this prove impossible to achieve.
Reuters recaps the case of Anurag Dikshit, a founder of PartyGaming who pleaded guilty in December to Internet gambling charges and agreed to pay $300 million in fines after negotiating with the US Department of Justice.
EU industry officials said the pressure on Dikshit to make a deal showed the Justice Department had crossed a major line in its prosecution of cases. The European Commission, acting on an industry petition through the Remote Gaming Association, began a formal investigation in March into whether Washington was singling out EU companies for enforcement actions while allowing U.S. online firms to operate freely.
Sources familiar with that investigation told Reuters in Brussels last week that they expect the Commission investigators' report, initially due last year, to recommend action at the WTO when it is released next month.
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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