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HR5767 seeks to halt implementation of the UIGEA
HR 5767, the bill introduced by Congressmen Barney Frank and Ron Paul on April 11 that seeks a moratorium on the implementation and enforcement of the UIGEA , has moved to "mark-up" stage in the House Financial Services Committee where amendments can be suggested before the Bill goes before the House of Representatives.
In its current form the bill would prohibit the Treasury Department and Federal Reserve from "proposing, prescribing or implementing" any regulations under the Unlawful Internet Gambling Enforcement Act. The Act has been the subject of widespread criticism for its lack of precision and practicality, and the burden it places on the US banking industry, and thus far 18 Representatives have signed up as co-sponsors to stop it in its tracks.
The nature of any amendments suggested, and the further progress of the proposed legislation will be watched with considerable interest by the industry, which has been adversely impacted by the UIGEA and its ban on financial transactions with online gambling companies.
However, it faces a long and difficult road because it seeks to halt the continued drafting of supporting regulations for the UIGEA and will be strongly opposed in the House and the Senate.
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Gambling News :
WSOPE In Czech Republic -
World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.
BtoBet Partners with AfroBet -
Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.
Pissed off Tabcorp shareholders -
A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.
NYX Gaming Group Expanding in Italy -
NYX Gaming Group says its continues to bridge the gap between online and land-based operators as it announced a new licensing deal in the Italian market.
Interwetten Q3 2016 Report -
In a brief third quarter 2016 report, Malta-headquartered online gaming company Interwetten reported strong growth across all verticals, with an emphasis on online casino revenues.
Evolution Gaming Q3 2016 Report -
Evolution Gaming Group AB delivered in its third quarter 2016 results reporting strong growth in revenue and a significant increase in mobile penetration. The company attributes is success to strong general growth and continued high demand for dedicated environments.
Dragonz Slot Launches -
#Dragonz The creatures in this 243 ways to win game engage with play during the free spins round, triggered by three or more scatters on the reels, and each character leads four different free spins rounds.
Mecca Launch Instant Win Games -
IWG has provided instant win content to lotteries for the past 15 years, amassing a portfolio of over 250 games. Its deal with Mecca signifies a move into the wider online gaming industry, servicing commercial brands and platforms.
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