• Join Us
  • Follow Us
Poker News

Federal Online Poker in Doubt for 2012

Written By: PokerNet.com | February 23, 2012 | Posted In Poker News

In a recent meeting between Wall Street gaming analysts and Investors on Friday last week, over federal legalization of online poker, it was discussed and debated whether or not the initiative would come about in 2012. The debate continued and it was  suggested that federal legislation would more than likely push it towards 2013 as lawmakers have not attached an online gaming bill still has not been attached to the payroll tax cut extension, from which the bill was set to gather life.

Chad Beynon, a Macquarie Securities gaming analyst had recently given his opinion in a research report, claiming that the state of Nevada stands to gain the most benefit from this inaction on pushing the bill forward in 2012. His reasoning behind it was that the progress of other states would be hindered and Nevada would remain intact as the only state to allow Americans to legally gamble online this year.

Nevada gaming regulators also finalized the state’s minimum internal control standards for interactive gaming earlier this week in a move to bring about regulation on online gambling. One of the key issues facing the problem of online gambling and online poker has been the integration of proper regulation as well as assimilation into the current systems.

“We think the standards were written in a way that will allow for small adjustments as the process moves forward,” Beynon also told investors. “At this point, no firm date has been set, but 13 companies have now submitted for an operating license.”

On Thursday last week, Senator Harry Reid, D-Nev., had declared that there would be no attachment of the online poker legislation to the bill for renewal of the payroll tax cut bill through the end of the year. Despite the strong current push for online poker and seemingly inevitable fact, Reid did not give any reasons as to why the legislation was unattached. The payroll tax cuts had been approved on Friday and required the signature of the current President of the United States, Barack Obama.

In further claims by Benyon, he stated that the major gaming operators and suppliers are still pushing towards federal legalization of internet poker under the belief that United States capital, Washington D.C. is better equipped to handling the setup, organisation and management of online gambling regulation much more than the individual states are.

“Nevada’s Gaming Control Board continues to methodically roll out legalized intrastate gaming and we believe their regulatory board has a great handle on what’s to come,” Beynon said.

Benyon continues on the notion that gaming companies looking to start an online expansion will break into either Nevada, with its laws in place and social gaming on various websites. Apprehension is still running high over final decisions over the bill.

[Source: Casino City Times]

Leave a Reply