Could this be true? Aren’t Poker Stars and Full Tilt the major sources of financial support for the Poker Player’s Alliance—the major lobbying effort to repeal UIGEA? Could they be working both sides of the street, and if so, why?
I don’t know the answers, and I don’t have a clue why they might do this. So if you do … lemme know.
Regardless of this speculation, not all the stars are aligned in favor of Frank’s legislation, because some Las Vegas land based casino owners are against Internet gambling, although others support it. Reports say that Steve Wynn has reportedly hired lobbyists to fight against the Frank Bill, while just down the Strip, Harrah’s is pushing for Internet gambling regulation.
Cabot’s opinion isn’t universally shared either. Libertarian presidential candidate Bob Barr believes Frank’s Bill—now with 60 co-sponsors—is gaining traction in Washington. Barr believes the revenue from taxed and regulated online gaming is too great for lawmakers to ignore.
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Then again, Barney Frank's press conference at the WSOP was held in Full Tilt's hospitality suite, and there significant talks going on pre-conference between Frank and a couple of Tllt notables. I was there and saw that.
I was suspicious from the beginning about why Poker Stars or Full Tilt would push for this legislation. You could argue that the bill bring an influx of customers to the table, but this would also mean they would lose considerable profit for having to pay taxes. It will be interesting to see how this turns out.
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