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Pro – Gaming Sentiment Rocks Elections
Last Tuesday's elections,
showed promising stakes for the gaming Industry's future rein.
A Pro – gaming air stream swept through the election with triumphant colors,
as five US states claimed support for the gaming Industry and
as pro gaming candidates shined with nominations.
In the interim, Tennessee constituents approved a referendum
to do away with the current states "ban on lottery" status,
thus opening the door to a state run lottery
with the intent on subsidizing education programs.
However, in Iowa, there seems to still be some issues not resolved,
such as riverboats among anti- gaming and pro-gaming factions.
Frank Fahrenkopf, the head of the American Gaming Association,
commented on this particular issue, saying, "The most important election was Iowa,
where 11 counties by state law have to reauthorize the operation
of riverboat casinos every eight years."
North Carolina, Idaho and Arizona,
where also rubbed with pro – gaming proposals.
The gaming issue surfaced in 23 gubernatorial races and subsequently pro
gaming candidates in 13 states won nominations.
Pennsylvania and Maryland pro gaming governors were nominated and New York,
California and Nevada governors where re-elected. Jason Ader,
a market analyst for Bear, Stearns & Co.,
commented on the recent elections, saying,
"Given large shortfalls in many state budgets,
the potential expansion of gaming to fund various state programs has become
an important element of many politicians' platforms."
Analysts On E-Gaming; Ban Or Regulate?
In recent days, there has been much talk over whether to ban online gaming.
However, many savvy gaming connoisseurs feel
that rather than outright banning online
gaming functions, regulations should be implemented instead.
The fact that law makers have gone out in full force on this issue,
yet still tossing the idea around for some time,
has left the gaming industry on a " put on hold" mode.
This subsequently gives underground international
businesses the freedom to pursue their operations.
Tony Cabot, a market analyst, had conveyed to the Las Vegas Review –
Journal his take on the matter, saying, "When you force legitimate businesses to the sidelines,
it opens the world to people who operate in gray or black areas."
Michael Tew, a Bear Stearns Co. Inc. market analyst,
added that the US Justice Department does not chase after
unlawful gaming sites operated by foreign residents,
but does indict US citizens for running Internet gaming sites.
Of late , The U.S. House of Representatives approved an Internet Gambling Enforcement Act ,
that bars one from utilizing credit cards and other online methods of payment for gaming purposes .
Though, the Senate has not taken any steps to see the bill through prior to going on holiday.
Alan Feldman, a representative from MGM Mirage believes
that the suspension by Congress may in fact benefit the industry.
He said, "It gives (MGM Mirage) a chance to show regulators that we have developed a system ...
by which government can become comfortable with legalized and regulated Internet gambling."
Reports have shown that among the around 1,800 e-gaming sites globally operating,
75% of them function under nominal government supervision.
A Positive Attitude At The European I – Gaming Expo
Last week, The Hotel Rey Juan Carlos, in Barcelona,
was host to this years' European I-Gaming Expo.
The event was coordinated by The River City Group and ATE,
a business data supplier. For the first time, The European I-Gaming Expo.,
assembled more than 275 representatives from 22 countries to discuss sprouting Internet gaming matters and wagering. As the US beats around the bush with up in the air regulations on gambling and outright banning Internet gaming, European authorities are power pushing towards a better regulated and superiority guarded Industry as they take it upon themselves to mark its foothold in the region. As it stands now, Europe seems to have come full circle, providing a more positive outlook on the issue of online gaming, thus authorizing leading land-based gaming trademarks in Alderney and The Isle of Man to operate. This positive notion puts Europe a head of the game, presenting the regions gaming Industry with a new arena, looking towards reaching its ultimate potential.
Prohibition, Cross –border gambling and Pan-European regulations,
were among the other main topics brought forth at the meeting.
Steve Donoughe, an executive from the Gambling Consultancy,
noted that the greatest menace to hit the gaming Industry
is the issue of reliable online payment services.
Mr. Donoughe also commented on the recent policy changes
from Us Banks and credit card companies not accepting transactions made for gaming purposes,
which had set out a commotional stir running through the Industry,
fearing a disastrous fall to the rightful trade. He summed it up by saying,
"We can´t rely on the US to sort this out. We need a European solution."
A Guide To The World's Top 50 Gaming Companies
Recently, the UKs' Betting and Gambling Consultants introduced a new guide to
the World's crowned 50 gaming companies.
After a year of keeping a close eye on and following
the companies for the passed year to date,
they observed that the companies surpassed
the FTSE 100 by 57% as well as the Dow by a 48% margin.
This week the company's creator, Warwick Bartlett,
commented on the finding's, saying, "We are going to write to all
the leading financial institutions to see
if they would like to set up an investment trust or a unit trust because
the performance is pretty impressive."
The Las Vegas Slot machine broker, prized above $5 billion,
International Game Technology, and MGM Mirage and Harrah's Entertainment,
US operators, rated at more than $6 billion, are the three leading modules around.
The resort Casino, Boyd Gaming,
is ahead at 326% and considered the paramount Executer.
In any case, Mr. Bartlett revealed some inside information on
what to expect from the new guide, Saying,
"The index gives you exposure to the dollar,
companies worldwide and cash Investors would like it."
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