\nSupporters of federal legalization of Internet gaming could be the biggest losers following the 2014 midterm elections, according to analysts.<\/p>\n
\tThe issue is not expected to gain traction in Washington, D.C., come January, after the new Congress is seated.<\/p>\n
\tWith Republicans taking control of the U.S. Senate and gaining a larger majority in the House of Representatives, various federal bills to legalize, tax and regulate aspects of Internet gaming have little chance of surfacing.<\/p>\n
\tSenate Majority Leader Harry Reid, D-Las Vegas, will no longer hold the same title in January. Reid had been a supporter of legalizing online poker on a federal level.<\/p>\n
\t\u201cI think the Senate transition away from Reid is, on the surface, bad for Internet gaming,\u201d Macquarie Securities gaming analyst Chad Beynon said Wednesday.<\/p>\n
\tThe GOP wave also swept into local races, which could curtail online gaming efforts in several states.<\/p>\n
\tBeynon said the change in Congress, along with \u201cdisappointing\u201d revenue reported in the past year from regulated online gaming activities in Nevada and New Jersey, have damaged legalization efforts.<\/p>\n
\t\u201cThere\u2019s little interest amongst the states at this point given lower budget deficits and power moving back to GOP,\u201d Beynon said. \u201cCalifornia is still the big domino, in our view, but it doesn\u2019t appear that they\u2019re any closer.\u201d<\/p>\n
\tOnly two major gaming issues were approved by voters Tuesday. Massachusetts residents overwhelmingly rejected a repeal of the state\u2019s casino law while South Dakota voters approved expanded gaming in the Old West town of Deadwood. Gaming expansion issues in Colorado and Rhode Island, and approval of a California Indian casino, were all defeated.<\/p>\n
\t\u201cExpansion of gaming is usually a tough proposition,\u201d Beynon said.<\/p>\n
\tResults recently reported by European online gaming companies operating in New Jersey, \u201cdon\u2019t offer a favorable outlook for U.S. Internet gaming.\u201d<\/p>\n
\tSeveral observers said Las Vegas Sands Corp. Chairman Sheldon Adelson was the biggest winner in Tuesday\u2019s elections.<\/p>\n
\tAdelson opposes Internet gaming legalization. He invested millions to fund anti-Internet gaming coalitions and hire lobbyists to oversee a federal and state-by-state fight in opposition to the activity.<\/p>\n
\tDuring a keynote address at the Global Gaming Expo in October, Adelson reiterate his position on moral and regulatory grounds.<\/p>\n
\tPolitico reported in September that Adelson gave $10 million to Crossroads GPS, which is run by Republican political operative Karl Rove and funded GOP Senate candidates. Many of those candidates won election on Tuesday.<\/p>\n
\t\u201cIt\u2019s not so much about Sheldon, it\u2019s about the GOP,\u201d said one gaming analyst who asked not to be named because his comments hadn\u2019t been cleared by his investment house. \u201cBased on history, the GOP rarely supports Internet gaming. The issue is on hold until 2017.\u201d<\/p>\n
\tSources familiar with the process in Washington, D.C., said a bill introduced in March that would restore a ban on online gaming by reinstating portions of the Federal Wire Act, could be attached to another piece of legislation next year. Adelson backs the bill, that was introduced by Sen. Lindsey Graham, R-S.C., and Rep. Jacob Chaffetz, R-Utah.<\/p>\n
\tIn a statement, the Coalition to Stop Internet Gambling, which was created by Adelson, said Tuesday\u2019s election bolstered the efforts to outlaw the activity.<\/p>\n
\tA spokesman said 21 of the 22 members of Congress targeted by the pro-online gaming forces in the election were re-elected on Tuesday.<\/p>\n
\t\u201cThe tactics to remove the dissenters of online gambling from office have failed,\u201d the Coalition said in a statement. \u201cPutting a stop to Internet gambling is a worthy cause, long supported by the coalition, many lawmakers, and the public.\u201d<\/p>\n
\tAlison Siciliano, spokeswoman for the for pro-Internet gaming Coalition for Consumer and Online Protection said the group hoped the new Congress wouldn\u2019t try and prohibit the activity.<\/p>\n
\t\u201cCongress unilaterally imposing a ban on all 50 states isn\u2019t good policy now, and won\u2019t be good policy when the new congress convenes,\u201d Siciliano said.<\/p>\n
No replies were posted for this topic.<\/p>\n","protected":false},"excerpt":{"rendered":"
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