US Gaming Group calls for Study of Online
Gambling
WASHINGTON, May 2 (Reuters) - A trade group
representing U.S. casino owners softened its opposition to Internet
gambling on Thursday and called for a congressional study to evaluate
whether online gambling could be regulated.
The group, the American Gaming Association, previously supported efforts
to curb illegal Internet gambling, which generated an estimated $11.9
billion in revenue last year. Most cyber-gambling sites are operated by
offshore companies.
Association President Frank
Fahrenkopf said the board of directors "modified" its legislative
position at a meeting on Wednesday and now favors a one-year study of
Internet gambling by a commission which would report its finding to
Congress.
"Such a commission could evaluate whether
legalization, regulation and taxation -- on a state-option basis -- may
be a more viable option than a complete ban on Internet gambling,"
Fahrenkopf said in a statement.
"Millions of Americans currently gamble online,
and they will continue to do so. And many nations, including Great
Britain, are in the process of legalizing, regulating and taxing online
gambling," he added.
Shares in British online gaming companies rose in response to the casino
industry group's decision, which raised hopes that pending U.S.
legislation to crack down on Internet gambling will fail.
The share price of BetOnSports rose 5 percent on Thursday while
PartyGaming Plc was up more than 4 percent.
The association said a one-year study should also consider how to
protect children and problem gamblers.
The group said it remains neutral on pending Republican bills that would
prohibit a gaming business from accepting credit cards and would ban interstate
gambling through the use of Internet and related technology.
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