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Casino CEO sees chance for Internet gambling



Printer Friendly VersionPost a CommentTell a Friend about this Article17 November 2006
As reported by: Reuters via Yahoo
New Democratic leadership in the U.S. Congress could provide a chance to explore legalization of online gambling, the chief executive of casino operator MGM Mirage said on Wednesday.

A new U.S. law making it illegal for banks, credit card companies and online payment systems to process payments to online gambling companies "makes no sense whatsoever," MGM CEO Terry Lanni said at a gambling conference held here.

"The Republican Party pandered to the religious right," he added.

In October, Senator Bill Frist of Tennessee was successful in tacking the Internet gambling ban onto a popular bill on port safety.

Frist is retiring from Congress as he mulls a possible run for the 2008 Republican presidential nomination.

Passage of the U.S. law pummeled shares of British-listed Internet gambling companies, which have since withdrawn from the U.S. market.

"Britain wants to be second to none in regulation of Internet gambling ... We firmly believe that the way forward is to regulate, rather than prohibit," said Peter Dean, chairman of Britain's Gaming Commission, who also spoke at the conference.


Article By: Reuters via Yahoo

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