The Miami Herald ran a piece yesterday summarizing the state of play with regard to the campaign to legalize online gambling in the US. Everything from Barney Frank’s bill, to the opposition of the fear-peddling right wing Christian groups to the changing view of the casino groups such as the American Gaming Association (AGA) are covered here. As Frank Fahrenkopf, president and CEO of the AGA says, though, “If there was going to be cannibalization [of offline gambling by online gambling], it’s already taking place. Ten years ago, if we took a look at the financial statement of MGM Mirage, for example, 65-70% of its bottom line would’ve come from gaming revenue. Three years ago, it was 45%.” They know they need to get on board. And if you can’t beat’em join’em. Read more.
