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  1. #1
    Dominique's Avatar
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    Default Frank may introduce legislation to repeal UIGEA

    http://www.egrmagazine.com/item/1669

    UIGEA NEWS ALERT
    The office of US Congressman Barney Frank, who is chairman of the House financial services committee, has confirmed that he is currently working on legislation to repeal the Unlawful Internet Gambling Enforcement Act.

    The news item appeared this afternoon on the Financial Times website and has been confirmed to eGaming Review by Frank’s press department. The details of how any repeal would take action have not been worked out and no timeframe was given.

    Frank is quoted as describing last autumn’s Act as one of the “stupidest laws” ever passed and adds: “I am working on legislation to cut back on this internet gambling thing… I think it’s preposterous”.

    While rumours of Barney Frank’s support for a repeal of the Act had been circulating around the egaming industry in the past few weeks, Frank himself had not confirmed or commented on them. Shares in PartyGaming, 888 and Sportingbet were all up this afternoon.

    The FT says the mid-term Democratic victory in the US Congress brought some hope to the online gaming sector and John Conyers, chairman of the House judiciary committee, is also considered sympathetic to the industry.

    But while Frank and Conyers are “powerful potential allies, it is far from clear that the lawmakers would have enough support to pass any meaningful legislation” because it is not clear “whether the votes would be there for a regulatory bill”.

    The FT adds that the US treasury is currently drafting the rules to implement the Act but that the deadline for presenting them has been missed and is now expected in April or May.

  2. #2
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    Cross post to consolidate:

    The Financial Times and eGaming Review are reporting that Congressman Barney Frank (D- Mass.) is working on legislation that would repeal the Unlawful Internet Gambling Act. When Casino City contacted the Congressman's office last month about similar rumors, Frank's office said there were no plans to repeal the legislation. Developing.

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    Dominique's Avatar
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    Sorry about jumping to post, I got excited when I learned about it....

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    Quote Originally Posted by Dominique View Post
    Sorry about jumping to post, I got excited when I learned about it....
    it's the fantastic news!!!! Thank you Dom and The Buzz

  5. #5
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    Quote Originally Posted by Dominique View Post
    Sorry about jumping to post, I got excited when I learned about it....
    Nothing to be sorry about. I'm glad you did. It's exciting stuff. Let's hope it turns out well.

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    GPWA Ryan is offline Former Staff Member
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    Default Confirmation from Congressman Frank's Office

    Just got of the phone with Steve Adamske, the press relations manager for Congressman Frank -

    He told me that Frank is still in the "thinking stage" of a possible repeal, but has not put "pen to paper."

    If I understood him correctly, this means the Congressmen does not like the UIGEA (we knew that) and wants to do something about it (we knew that), but as far as actual actions, nothing is official and it doesn't sound like it will be anytime soon.

    Nice to have someone in our corner though.

    I have an interview with Frank later this afternoon if he gets back to me...I will post a story and update this thread after the call.

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    WinYourWayKyle is offline Private Member
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    This is great news! Lets just hope all goes well, and let the freedom of Americans being allowed to gamble online will be reconsidered again. Well, at least this is a step in the right direction.

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    Reuters says Frank might reveal details about a plan to repeal the UIGEA next week.

    "I'm not ready to give you more details, but I will be by next week or so. We'll talk more about it later. There's no urgency on it," he said.
    http://investing.reuters.co.uk/news/...G-CONGRESS.XML

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