Internet Gambling : Rumors of Frank UIGEA Appeal Unfounded

Yesterday Party Gaming stocks sored as rumors went around claiming that outspokern Congressman Barney Frank was going to repeal the Unlawful Internet Gambling Enforcement Act. However, today, Frank's press secretary denied the rumors.

"As you know, he is opposed to restrictions on online gambling," said Frank's press secretary Steve Adamske to Aaron Todd, a reporter from Casino City. "But there is nothing currently underway to repeal the restrictions on Internet gambling in the United States. There are a lot of reports coming out of Europe and I have no idea where they are coming from. There hasn't been anyone on our staff talking about that, including the Chairman."

"The Internet gambling community is looking for any glimmer of hope that its not all over," said online gaming analyst Robert Glazer. "But the reality is that the situation is going to continue to get worse before it gets better."

As of today the popular Microgaming, Cryptologic, and Playtech gaming software companies are all but non-existent to US players. Doyle's Room, a popular poker site, has announced it is ending its acceptance of new US players, and sportsbooks are having many troubles paying out their players and affiliates.

There are still places US citizens are playing, and actually thriving, such as at Golden Casino and SuperSlots Casino, and Full Tilt Poker is doing better than they ever have. It is unknown, though, how long the success of these sites will last once the 270 'grace period' of the UIGEA is over come summer time.



2007-02-22