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WYNN SPEAKS OUT ON U.S. ONLINE GAMBLING LAW
Written On 4/30/11 By Recentpoker.com staff writer Jennifer Jearu :
Famous gambling entrepreneur describes the UIGEA as "mysterious and unfathomable"
When Steve Wynn, the famous Las Vegas gambling entrepreneur and founder of Wynn Resorts, had to distance himself from a lucrative partnership with top online poker provider PokerStars in the wake of Black Friday it must have rankled. Last week Wynn had some harsh words to say about the UIGEA in addressing a gathering of investors, according to Associated Press.
Wynn explained that the Unlawful Internet Gambling Enforcement Act of 2006 was a federal law that did not attack online poker players directly, but disrupted their financial transactions with 'illegal' online poker providers.
The problem was that it was not clear what constituted an illegal gambling transaction, he said.
"The [government] policy up to now, which is no surprise to anybody, has been murky and arcane," said Wynn.
"Arcane is a good word that means mysterious and unfathomable," Wynn continued.
"Most everything in Washington is mysterious and unfathomable. We're trying to figure out what the hell the public policy is and then we can have a corporate policy."
The AP report notes that the Department of Justice has yet to pursue legal actions against anyone for playing poker based on the 2006 law.
The news agency also quoted Caesars Entertainment chief exec Gary Loveman, who commented:
"What they're [the DoJ] indicting was the illegal activity of foreign operators in the United States. The solution to that problem is not simply to send our law enforcement people out chasing foreign operators.
"The solution is to take a very simple pastime that's been around this country for hundreds of years, and allow licensed, regulated providers to provide it."
Senate Majority Leader Harry Reid, a former Nevada state gambling regulator who supported the 2006 law, shares that sentiment, and told AP that it's important that online poker is legalised in the next two years.
"I hope we can get something done," Reid told the AP. "It's something that has to be regulated."
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