Online Poker USA Businesses Prepare for Legalization

Published Sunday, December 04, 2011 - Online-Casinos.com

A recent article in the New York post business news is suggesting that investors of all stripes are looking to cash in on the online poker trend hitting the world wide web. The upset caused by the US Department of Justice crackdown on Full Tilt and others doesn’t seem to have deterred the enthusiasm for the game.

Caesars Entertainment, one of the world's iconic giant casino operators, became the latest power player to make a move filing the papers to go public recently.
The headline for the article says that the smart money is betting Washington will legalize online poker. The larger gambling firms are positioning themselves be ready with all the right tools when the lucrative activity finally gets the nod from the Feds.
Rumours from sources reportedly close to the action on Capitol Hill are indicating the trend that lawmakers are considering new laws because online poker is presenting itself as a “revenue enhancer” in the congressional super committee proposal to reduce the nation’s deficit by $1.5 trillion.

Other indicators of the possibility of legal online poker in the USA are the moves by MGM Resorts and Boyd Gaming, which on Oct. 31 separately announced agreements with bwin.party digital entertainment to develop online poker sites and real estate entrepreneur Donald Trump, has teamed with Avenue Capital to launch an online poker site. Morgan Stanley has estimated legal online gambling would generate $14 billion annually and if taxed at 25 percent, the Treasury Department and individual states which will have the option to participate or not would share the $3.5 billion gain.
As with all political situations timing and support dictate the outcome of proposed change. It is widely believed that Congress will not pass any controversial bill during the 2012 presidential election year. Advocates for change are leaving their positions either by choice or by election and it may be by next year the tide may turn negative once again.

 

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