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In a recent interview with MoneyShow.com, Caesars Entertainment CEO Gary Loveman claimed his company was “pressing very aggressively for the US Congress to legalize online poker, and I think we have a very good shot.” From where does such confidence spring?
Chris Krafcik (@CKrafcik)crunched the federal lobbying reports for Q2 2011, which show that Caesars spent $821k lobbying Congress on the issue of internet gambling during this period. That’s far more than any other single company, interest group, Indian tribe or state lottery, and represents 23% of the total lobbying spend on internet gambling.
Overall internet gambling lobbying outlay was actually down about $326k in Q2 compared to Q1. Much of the decrease is due to cutbacks by companies affected by the events of Black Friday, as well as the lobby groups these companies supported. PokerStars’ lobbying expenditures dropped by 19% in Q2, marking the first time in almost two years that the company spent less, rather than more. The Interactive Gaming Council and the Poker Players Alliance, each of which were heavily backed by PokerStars, Full Tilt et al, cut lobbying spend by 28.3% and 7.1% respectively.
France’s Betclic Everest Group made their first ever appearance on the lobbying list, tucking $50k into Congressional g-strings. Will any of it make any difference? Only time will tell.
Source CalvinAyre.com
Chris Krafcik (@CKrafcik)crunched the federal lobbying reports for Q2 2011, which show that Caesars spent $821k lobbying Congress on the issue of internet gambling during this period. That’s far more than any other single company, interest group, Indian tribe or state lottery, and represents 23% of the total lobbying spend on internet gambling.
Overall internet gambling lobbying outlay was actually down about $326k in Q2 compared to Q1. Much of the decrease is due to cutbacks by companies affected by the events of Black Friday, as well as the lobby groups these companies supported. PokerStars’ lobbying expenditures dropped by 19% in Q2, marking the first time in almost two years that the company spent less, rather than more. The Interactive Gaming Council and the Poker Players Alliance, each of which were heavily backed by PokerStars, Full Tilt et al, cut lobbying spend by 28.3% and 7.1% respectively.
France’s Betclic Everest Group made their first ever appearance on the lobbying list, tucking $50k into Congressional g-strings. Will any of it make any difference? Only time will tell.
Source CalvinAyre.com
wow, that is a lot of money