New Gambling Law Postponed

Barney Frank's new online gambling law will be delayed as more pressing issues related to the US economy take precedent.

The bill, HR 2267 is seen as by the online casino industry as a chance to re-enter the lucrative US market. It will repeal the existing Unlawful Internet Gambling Enforcement Act, passed in 2006, and in its place offer a licensing and regulatory regime that will allow license holders to promote to US players.

The bill has been gathering support, with 35 co-sponsors currently, including both Democrat and Republican representatives, and a number of large online gambling operators positioning themselves for license applications.

PartyGaming settled a well reported case with US Justice Department, paying $110 million in what some believe was a move paving the way for consideration for a license once the new regime is in place. Harrah's meanwhile have set up their online poker subsidiary to be ready for when licenses are up for grabs.

But it has now been revealed that HR 2267 will not be debated in Congress any earlier than September. As head of the House Financial Services Committee, Frank's attention has been demanded on more pressing economic issues and his UIGEA repealing bill has been sidelined for the time being.