Reid potentially warming
Posted by Carl Barnett on 12 Jan 2010 at 15:01
Reid potentially warming up to idea of regulated online gambling Harry Reid, the US Senate Majority Leader, may be backing online gambling regulation sooner than is expected.
Many land-based casinos are finding it difficult to meet their financial requirements as the recession bites and gamblers spend less than the casinos want them to.
Barney Frank has put forward an Internet gambling regulation bill, and with potential pressure coming from Reid's financial backers, he may find himself having to show support to the first signs of regulation.
Reid is from Nevada, where many casino owners have backed the ban against online casinos and online gambling in general.
Many casino owners are feeling pressured by financial difficulties and the low overheads that online gambling presents with may well be an attractive aspect of any regulation plan.
Reid has so far avoided any kind of connection with Frank's plans.
He was instrumental in the withdrawing of an amendment to a piece of healthcare legislation that featured the use of tax income derived from regulated online gambling.
However, some industry experts feel that Reid is following the lead of his financial backers, and that his stance may change as the industry continues to consider regulation.