BUSINESS

Federal bill to hit congress before year ends?

TAGs: sheldon adelson, us federal gaming law

CongressCongress is slowly edging towards a federal online casino gaming industry bill by the end of the year if one publisher is to be believed. The New York Post reports that sources close to the dealings think that a bill could find its way to Congress by the end of the year. The Post quotes a source as saying, “I think there is becoming a feeling in Congress that this is something that needs to be regulated and be done. I believe there is a possibility a bill will pass towards the end of the year.”

Roger Gross, publisher of Global Gaming Business magazine, is also quoted as saying, “The only question is how it is structured.”

Gross also explained that Republican donor and Las Vegas Sands CEO Sheldon Adelson is now on board with plans for gambling industry legislation at a federal level. He believes that Adelson sees it as a window of opportunity to grow sales. The LVS CEO is close to House Majority Leader Eric Cantor, a figure that will be important for gaming industry advocates to win round. A source cited by the post did explain that he believes Adelson to be neutral on any plans.

This comes after Harry Reid and Jon Kyl formed one of those tag teams that always bewildered you as a youngster watching the WWF. Think the Rock and Sock connection and you’ve got it. Their letter attacked the intra-state gambling industry in favor of movement at federal level. This all despite the fact that Kyl was one of those vehemently opposed to gambling industry legalization at any juncture.

It’s one thing the bill making its long and arduous arrival at Congress’ table. The item actually passing and becoming law is quite another. Earlier this month already saw comments from Chris Krafcik (@CKrafcik) that pointed to New Jersey being the most likely place to see some sort of intrastate online gaming before anything federal comes down. This would obviously contradict the aim of the new partnership between Reid and Kyl.

Krafcik has also been quoted as stating Washington lobbyists have told him that movement on any federal legislation at any level won’t be happening this year or even in 2012. The writer later stated that federally regulated online poker “remains a multi-year proposition.”

Obviously, the point at the centre of the Post article is online casino gaming. Movement on either poker or casino gaming will have an effect on each other and however many people they try to tally up their side, federal legislation seems some way off in the US at the moment.

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