Fahrenkopf says AGA "recognizes" online gambling's opportunity

[The Buzz]

American Gaming Association President and Chief Executive Frank Fahrenkopf said that while he doesn't believe online gambling legislation will pass during the lame duck session of Congress, he does believe such legislation would create jobs and tax revenues.

Fahrenkopf made his remarks on Tuesday during the first day of the Global Gaming Expo at the Las Vegas Convention Center.

From the Las Vegas Sun:

The AGA shifted its position on online gambling last March. The lobbying organization is now supportive of the concept with certain regulations, Fahrenkopf said.

"The industry now recognizes the opportunity that online gaming could provide. It presents a different experience than visiting a casino, and in our view, it would not cannibalize brick-and-mortar, particularly if it was poker-only legislation," Fahrenkopf said.

[davenewgates]

Fahrenkopf said it right. If online gambling would only be legalized, it would do a lot of help to job market and tax revenues.

[JoeAdams]

Online gambling taxation was seen to be one of the best way to help rise a recessing economy of a country.

[Anthony]

"The industry now recognizes the opportunity that online gaming could provide. It presents a different experience than visiting a casino, and in our view, it would not cannibalize brick-and-mortar, particularly if it was poker-only legislation," Fahrenkopf said.

I feel this is a very important quote from Frank Fahrenkopf. We have been saying this for years. Online gaming boosts the brick-and-mortar casinos.
Look at what online poker did for the land based casinos. They had to open and expand their poker rooms from the demand generated online. But their stance has always been online takes away from their business, when we all knew it was not the case.

Now that the AGA does acknowledge this fact, they can't logically take it back. I see it as an important philosophical shift.

[wagerjunction]

I feel this is a very important quote from Frank Fahrenkopf. We have been saying this for years. Online gaming boosts the brick-and-mortar casinos.
Look at what online poker did for the land based casinos. They had to open and expand their poker rooms from the demand generated online. But their stance has always been online takes away from their business, when we all knew it was not the case.

Now that the AGA does acknowledge this fact, they can't logically take it back. I see it as an important philosophical shift.

From your mouth to congressmen's ears Anthony

[andreea]

Let's face it, the main interest here is in the government getting their due taxes, otherwise the legalization at this point in time (recession) would be lacking incentive given the lashbacks they'd expect from pushing it through.

I think they only stand to gain here, especially by pushing the land based casinos who they know they can get tax from and who they have guaranteed revenues from with minimal effort in the online world.

[wagerjunction]

"The industry now recognizes the opportunity that online gaming could provide. It presents a different experience than visiting a casino, and in our view, it would not cannibalize brick-and-mortar, particularly if it was poker-only legislation," Fahrenkopf said.

Note that he mentionned "poker-only legislation". I don't understand it - or maybe they are the ones who do not get the picture clearly - if it worked successfully for online poker it should normally be the same for online casino games.