Online Gambling News for August 17, 2011: Congress May Okay Web Gambling

G911.co has your online gambling news for August 17, 2011.

The New York Post ran a great story on Wednesday suggesting the US Congress may okay Internet gambling.

Sources have told the Post that a bill looking to legalize the activity may find its way before Congress by year’s end, as opposed to the next summer period a few politicians have suggested to industry media in the past.

“I think there is becoming a feeling in Congress that this is something that needs to be regulated and be done,” a source close to the discussions told the Post. “I believe there is a possibility a bill will pass towards the end of the year.”

“The only question is how it is structured,” according to Roger Gross, the publisher of Global Gaming Business magazine.

Senate Majority Leader Harry Reid, who has attempted to push similar legislation in the past, is opposed to states trying to pass their own laws.

Both California and New Jersey are looking to pass state legislation by the fall.

The Post also noted that one of the Republican party’s largest donors, Sands CEO Sheldon Adelson, is also backing legislation and is friendly with House Majority Leader Eric Cantor. 

Arizona Senate Republican Jon Kyl, who helped pass the current law prohibiting online gambling in the US, the Unlawful Internet Gaming Enforcement Act, has also had a change of heart. 

His Web site said, “Efforts to carve out an exception for games like poker, which many believe is a game of skill, may be considered later this year.”

From the New York Post: 

Sen. Jay Rockefellerlast month in an effort to win a debt ceiling extension proposed legalizing Internet gambling saying it could raise an estimated $41.8 billion over 10 years, and an estimated additional $30 billion for states, along with 17 other ideas.

We know time is flying, but year's end is essentially three to four months from now (August 17).

Centerebet’s shareholders have agreed to support the proposed takeover of the Australian bookmaker by the United Kingdom’s Sportingbet.  Performance rightholders have also given their approval.  The takeover, however, is conditional based on certain waivers and a court hearing to be held on 22 August. 

This news comes just a day after Sportingbet suspended trading on the London Stock Exchange on news that GVC Holdings was expected to take over its Greek-based online betting operation.  There have also been rumors of a takeover by Ladbrokes. 

- Chris Costigan, Gambling911.com Publisher