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The American Gaming Association (AGA) will not support Congressman Joe Barton’s internet poker bill and will instead push new legislation in the autumn which would favour Nevada and New Jersey as licensing and regulatory authorities in a future US egaming market.
The AGA-backed poker-only bill would also differ from the Barton draft on how resulting tax revenues would be split between federal and state level. “Taxes would be divided between the state where the bettor is, with the state where the regulator is. The federal government would only receive the income tax on winnings,” said Frank Fahrenkopf, chief of the powerful US land-based casino representative organisation.
In a keynote address at the Gaming Executive Summit in Madrid today he said: “Ten days ago Joe Barton of Texas introduced a bill that was modelled on the draft that was worked on by Senator Reid and Senator Kyl in the lame duck session. We are not supporting it. We are not opposing it, but we are not supporting it."
Fahrenkopf said the AGA was “hopeful that after the summer break, a bill will be introduced” which would provide the following: “Number one, it would give oversight to the Congress department of the United States but they would delegate the licensing and regulatory authority to those states that have the longest history in gaming regulation, that have the law enforcement on staff and the financial wherewithal to do tough regulation. Probably, that only means Nevada and New Jersey.”
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The AGA-backed poker-only bill would also differ from the Barton draft on how resulting tax revenues would be split between federal and state level. “Taxes would be divided between the state where the bettor is, with the state where the regulator is. The federal government would only receive the income tax on winnings,” said Frank Fahrenkopf, chief of the powerful US land-based casino representative organisation.
In a keynote address at the Gaming Executive Summit in Madrid today he said: “Ten days ago Joe Barton of Texas introduced a bill that was modelled on the draft that was worked on by Senator Reid and Senator Kyl in the lame duck session. We are not supporting it. We are not opposing it, but we are not supporting it."
Fahrenkopf said the AGA was “hopeful that after the summer break, a bill will be introduced” which would provide the following: “Number one, it would give oversight to the Congress department of the United States but they would delegate the licensing and regulatory authority to those states that have the longest history in gaming regulation, that have the law enforcement on staff and the financial wherewithal to do tough regulation. Probably, that only means Nevada and New Jersey.”
Full Story Here
