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The online casino world may be waiting a little longer than expected for Barney Frank to introduce his legislation to lift the ban on Internet gambling in the U.S.
Despite the chairman of the House Financial Services Committee’s promise to put forth a bill to repeal the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) by the end of April, some analysts predict that the industry may have to wait.
“Given the more pressing economic concerns of industries that currently employ considerably more potential voters than online gaming ever will, we think the odds are very slim that online gaming will be supported on Capitol Hill,” said Macquarie Securities gaming analyst Joel Simkins.
Some Internet gaming advocates believe that a legalized and regulated online casino business in the U.S. would generate billions in taxable revenue.
However, even after seeing the numbers, Simkins asked his sources whether the Federal Wire Act, used to stop Internet gambling in the U.S., could be overturned.
“Unlikely”, they said.
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