| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Online Gambling Gets a Fair Shake
- Thursday, 24 Nov 2005
On Sunday, “60 Minutes” ran a 15 minutes segment on the online gambling industry. Despite the legal issues surrounding online gambling, online casinos were shown in a positive light. The show focused on the legislation and regulation of Internet gambling, featuring interviews with key figures such as Steve Lipscomb, who is behind the World Poker Tour and Nigel Payne the Chief Executive Officer of Sportingbet PLC. Much to the surprise of everyone watching the show, online gambling received further reinforcement from someone you would least expect to be advocating online casino gambling.
Terry Lanni who serves as the CEO of MGM/Mirage believes that online gambling should be regulated by the government. Land based gambling resorts are losing millions of dollars each year as a result of Americans who choose to gable online. In light of that, you would expect someone in her position to oppose to legislation that will regulate online gambling in the US. However, Lanni much like other land based gambling executives have learned the lesson that if you can’t fight it, you might as well join it.
If the US government regulated the operation of online gambling sites it would allow land based casinos to counter online casinos with their own customized online gambling sites. The way it stands now, land based casinos are prohibited by law to offer online gambling to US customers, which prevents them from competing against online gambling sites. You can bet that if online casinos were to be regulated in the US, the next morning every casino from Vegas to Atlantic City will have its own gambling ready to go.
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