UIGEA Debate Slated for Next Week
The Frank Bill has already missed a couple of deadlines and the collective online gaming industry can barely hold its breath anymore, but legislation will be put forth next week in an effort to quash the ban that turned online gambling on its head back in October 2006.
Representative Barney Frank, chairman of the US House of Representatives Financial Services Committee said today at the Reuters Global Financial Regulation Summit in Washington DC that once the legislation is introduced, he plans to “move on it.”
Although it’s a glimmer of hope for anti UIGEA (Unlawful Internet Gambling Enforcement Act) advocates, the Republican opposition is likely to be formidable.
But given the state of the domestic and global economies—both of which dramatically affect online gambling—the cause to regulate it are more viable and compelling than ever, with hundreds of millions of dollars a year to get back on track.
Stay tuned to GamblingOnlineMagazine.com for more updates on this story.