Another Hearing on the Legalization of Online Gambling
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Last week lawmakers, headed by Representative Bono, held a hearing to determine whether or not online gambling should be legalized. This is due, in part, to the recession that most US states are grappling with. While we have always said that the revenues from online gambling would help boost our economic forecast, this particular hearing is a direct result of legislation spearheaded by Congressman Barney Frank and others who are continuing their efforts to repeal the UIGEA Law. Although we stress that the repeal of the UIGEA has to be voted on by a Republican Congress and a Senate that has filibustered all important bills, we cannot say with certainty that Frank's legislation will prevail. However, we will keep you posted.