Online Gambling Legislation May Be The Answer In Las Vegas

Senator Harry Reid has long said that he would do what is best for his home state of Nevada when it comes to Internet gambling. For years, that has meant taking a stand against online gambling when it has been discussed by lawmakers in Washington.

Now, some experts believe Reid and the Las Vegas casino industry that he represents, may actually be better off if they change their stance. Reid's stance could become crucial to the upcoming battle in Congress over Internet gambling regulations in the US.

Representative Barney Frank has been pushing legislation that would overturn the Unlawful Internet Gambling Enforcement Act. The law was put in place back in December of 2006, but has yet to be enforced.

The UIGEA was set to start being enforced on December 1st, but the Department of the Treasury has delayed the implementation of the UIGEA rules until June 1st of 2010. That gives Frank time to present his proposal to fellow lawmakers.

One of those lawmakers will be Reid, a powerful voice in the Senate. In the past, there has been no chance that Reid would have backed online gambling regulation, but this time around it may be different.

Many gaming analysts believe that Las Vegas casinos would benefit the most from regulating Internet gambling. The theory is that the Vegas casino companies would be among the first that were licensed in the US to offer online gambling.

The casino companies have been split on their approach, even at a time when revenue is down and the economy has severely hurt the industry. Wynn Resorts wants no part of Internet gambling regulations, but Harrah's Entertainment has actually already started a company that is preparing for regulated online gambling.

It is going to take time for lawmakers to sort through the complex details of a regulated system, but before that can be done, Reid must take a stand one way or another on the issue. The industry he represents is watching closely, and will soon make the call along with Reid, but a pro-online gambling vote could go a long way towards reviving Las Vegas.

November 30, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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