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IS REID READY TO MAKE HIS MOVE ON INTERNET POKER?
Tuesday December 6,2011 : Rumour mill gets into gear on news that Reid is to introduce a new financial measure this week
For months there has been rumour and speculation that Nevada Senator Harry Reid, after working behind the scenes with Senator Jon Kyl, is about to launch an internet poker legalisation initiative in Congress. Over the weekend this interesting possibility took on new life following a Fox News interview.
In the interview Sunday, Senator Kent Conrad revealed Sen. Reid was about to introduce a bill extending tax cuts, and that the cost of this would be covered by other [unspecified] revenue generating initiatives. This immediately triggered speculation that this could signal the attachment of an internet poker legalisation provision.
“Majority Leader Reid called me yesterday and said he will propose tomorrow a compromise plan to extend the payroll tax cut,” Senate Budget Committee chairman Conrad revealed. “He will offer it at that point — I don’t think it’s probably in my purview to announce his plan — but he indicated to me it will be paid for. It will be paid for in a serious way.”
Then Sen. Tom Coburn told interviewer Chris Wallace that he is opposed to paying for a one-year tax cut "through measures that would span the next decade." That was seen as a reference to the projected billions that the legalisation of online poker has the potential to generate over a ten year timeline - an argument often used by pro-legalisation politicians.
“The principle that you would in fact create a tax cut and then say you’re going to pay for it over 10 years is exactly why we’re bankrupt as a nation,” said Republican Coburn.
Reid's office had not commented on the new measure when InfoPowa went to press Monday.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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