Online Poker

Caesar’s Palace Honcho Says Bring on Online Poker

by Omar

Caesar's Palace Honcho Says Bring on Online Poker

In somewhat of a surprising twist, the online poker industry got an unlikely ally on its side yesterday, one that curiously waited until the carnage from Black Friday had settled and the new world order of online poker had begun to take shape. The CEO of Caesars Entertainment, the company that owns and operates the World Series of Poker, Gary Loveman issued a statement in which he likened the recent events to those of Prohibition in the 1920s.  For those who do not know, Prohibition was the crackdown and making illegal for any business to sell or serve alcohol.  Following the repeal of Prohibition, the liquor and beer industries have grown into the titanic sized operations we know today.

In his statement, Loveman said,

“The question we face isn’t ‘Will there be online poker? Millions of Americans have already answered that question through their regular play, and the latest indictments won’t change that. In fact, less than 24 hours after the three poker sites were closed, other foreign operators began filling the void. Instead, the question is this: ‘Should we seize the moment to legalize online poker, permit a safe and legitimate industry in the U.S., and bring those jobs and revenues home?’ Unequivocally, the answer is yes.”

He went on to say something that Congressional leaders such as Barney Frank have been saying for years. He said,

“The goals of legislation are simple: let Americans play online poker in the privacy of their homes and create jobs and revenues here in America. Only Federal legislation can accomplish that, by creating a well-regulated system of online poker. And only Federal legislation can clear up the current ambiguities in U.S. law and crack down on other online gambling like sports betting and casino games.”

It is clear that Loveman sees the indictment against the owners of PokerStars, Full Tilt Poker and UB.com as an event that needed to happen in order for the inevitable regulation and taxation phase of the industry to begin.  Many would argue against that assessment, and in fact, organizations such as the WTO (World Trade Organization) who ruled against the United States when the UIGEA was passed in again claiming that the Department of Justice’s actions are discriminatory against foreign companies.  If past history is any indication, the United States could be facing a hefty fine sometime in the future.

Whatever caused Caesars Entertainment’s sudden believe that online poker is a positive thing that should be available to all is clearly in question.  Could it be an ethics belief as they say, or is it the now open road to take control of the void left in the market. It’s time for the speculation to begin.

    blog comments powered by Disqus