Is It Possible To Change The US Gambling Laws?

Frank Fahrenkopf, CEO and president of the American Gaming Association, in an interview with Reuter’s news agency this week on the political changes arising from the recent US mid-term elections, sounded a positive note on the wider industry. He caused much excitement in the gambling industry when he said, “We think it might be time to see if there is a way to regulate and control online gaming.”

Fahrenkopf told Reuters, “I think the change on balance is positive.” Fahrenkopf added that a major challenge of the trade group has been educating legislators about the business, and making “the new leadership familiar with our industry.”

A moderate Nevada Democrat and former casino regulator, Sen. Harry Reid, was elected this week as U.S. Senate majority leader. “He probably knows our industry better than anyone,” said Fahrenkopf.

The new Republican leader in the Senate is expected to be Mitch McConnell of Kentucky, a “gambling state” in Fahrenkopf's words. Trent Lott, a Republican from Mississippi, where casinos dot the U.S. Gulf Coast, is angling for the job of assistant minority leader in the Senate.

Rep. Charles Rangel, the New York Democrat expected to chair the Ways and Means Committee, has been to Las Vegas to tour the inner workings of casinos “many, many times,” according to the head of the gaming association. Rep. John Conyers, who is expected to head the Judiciary Committee. Conyers is from Detroit, where he has seen “how casinos can benefit the economy,” Fahrenkopf said. Conyers was also the politician who attempted to interest Congress in a study of online gambling last year.

Fahrenkopf also noted that Bennie Thompson, expected to chair Homeland Security, is from Tunica, Mississippi.

And Massachusetts Democrat Barney Frank, who is expected to chair the Financial Services Committee, has a libertarian approach to gambling and does not believe that the U.S. should be telling people how to spend their money, Fahrenkopf said.

The Gaming Association is expected to decide in December whether to pursue legislation calling for an independent study of online gambling, says Reuters. “We think it might be time to see if there is a way to regulate and control online gaming,” Fahrenkopf said.

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