Saturday June 1, 2013 : FEDERAL ONLINE POKER LEGALISATION DEFINITELY ON THE CARDS
King likely to sponsor new attempt in Congress soon, say aides
The growing industry speculation that Republican Congressman Peter King is about to launch another attempt at federal online poker legalization in the US Congress was given impetus Saturday by a report from the Reuters news agency.
Quoting Congressional aides, the news agency said the proposal was designed to give brick and mortar casinos a larger (online) market in the face of increasing initiatives at state level, where individual states are preparing their own intrastate laws and considering interstate compacts.
"Online poker would generate $10 billion in added revenues by 2017 if allowed by federal statute, according to the American Gaming Association. About $4 billion is now being spent for illegal sites," Reuters reported.
The news agency reprises statements earlier this year by MGM Resorts financial chief Dan A'Arrigo that Nevada may be too small a market for the company to invest in an online poker room, pointing to the benefit of a federal solution which would enable states to interact if they wished.
However, Reuters warns that a federal legalization bill will probably face opposition from state legislatures and lottery officials.
In addition to a bill from Congressman King, the Democratic Party Representative from Texas, Joe Barton, will also launch a bill, according to Congressional aides.
Reuters does not give details of either bill, other than to advise that states will have the choice to opt-out if they wish.