US online poker legislation is moving at a snail’s pace in the country as there are several conflicts over the proposed online poker bill drafted by Senators Reid and Kyl.
Several analysts have studied the bill and the existing conditions of the online poker industry and player market and have concluded that the bill needs to be modified before it goes to the floor as it does not take into consideration the interests of offshore sites, tribal owned gambling centers and poker sites that have opened in the recent five years. Simultaneously, others in the industry who are getting a good deal from the bill are trying to push it to the floor during the lame duck period.
According to Andrew Zarnett, a gaming analyst, it is not likely that the US online poker bill will be passing in the lame duck session. “With the likelihood that online gaming does not get passage on a federal basis in this year’s lame-duck session and in the foreseeable future, investors should shift their thinking to what a rollout would look like on a state by state basis…This market will fast become the economic test case for analysis of revenue size, cash flow generation and cannibalization impact as it comes on line,” said Zarnett.
Zarnett is of the opinion that the various US states will take the matter into their own hands. In the mean time, the American Gaming Association is also backing the US online poker bill of Kyl and Reid and trying their best to get it sent to the floor.
“State compacts, framework providing uniformity of rules across different states, and potential issues arising from Tribal gaming, also need to be sorted out, before Internet gaming can be rolled out successfully,” Zarnett added.