epresentative Barney Frank proposed legislation that would overturn the Unlawful Internet Gambling Enforcement Act of 2006, and last week a hearing was held in regards to Frank's bill. This past week, the markup stage of the process took place in the House Financial Services Committee.
At the end of the markup, the Committee voted in favor of the legislation. Now, however, there may be a gap of several months before the issue is again debated. Lawmakers will be leaving for their break soon, and when they come back the election cycle will have begun.
Online casinos have been watching closely, and one key amendment that came out of the House Finance Committee was that any gaming site that has been in violation of existing US laws will be disqualified from receiving consideration for an online gambling license.
Two major online casino groups, PartyGaming and Bwin, decided this week to merge. If the merger is accepted by shareholders, the new company would become the largest in the industry. The two company's will continue to offer their services to customers throughout the merger process.
Among the games that would likely be regulated in Frank's bill is approved are blackjack, roulette, craps, Caribbean stud poker, war and bingo. It is expected that Las Vegas gaming company's will get the first opportunity to obtain an Internet gaming license in the US.