Internet Poker Amendment Fails to Pass as Part of Nevada Gaming Tax Bill

By Debra SaundersGoogle

Earlier this week, there were reports that an online gaming amendment would be added to the Senate’s unemployment payroll tax bill later in the month. However, on Thursday, Democrat Senator Harry Reid of Nevada, ended speculation that online poker legislation would be attached to the bill.

Reid, a proponent of the legislation, cited opposition to online poker by Indian tribes, state lotteries and the attempt to attach it to the payroll legislation as reasons for its failure. Because of the debate over federal legislation that would legalize online casino games, it has most likely been pushed into 2013 at the earliest.

Chad Beynon, gaming analyst at Macquarie Securities, a global provider of banking, financial, advisory and investment services stated that, “Nevada stands to benefit from the inaction because it may be the only state that allows Americans to gamble online this year.”

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

Beynon said the top online casino operators and suppliers would continue to push for federal legalization of online casino games because they believe Washington D.C., can better handle the regulation of online gambling than individual states.

He thought gaming companies looking to break into the online casino games industry in the USA would look at both Nevada, which has the laws in place, and social gaming on various ‘play for fun’ sites.

“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.

Although this latest attempt to pass online poker legislation has seemingly come and gone, there are still several advocates pushing for federal legislation.




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