Caesars Entertainment CEO and President Gary Loveman Pushes For Federal LegislationLoveman Compares Black Friday Indictments To Prohibition |
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On Tuesday, Caesars Entertainment President and CEO Gary Loveman expressed his thoughts in an op/ed piece for the online edition of Fortune Magazine, stating that the Department of Justice and their recent federal indictment of the major online poker sites has created an opportunity to create jobs and generate revenue for U.S. citizens.
Loveman went on to compare the current situation with online poker to the Prohibition era of the 1920s and offered up his suggestions for future legislation. Although he recognized prior efforts made at the state level as well intentioned, he stated that federal legislation will be more beneficial to future U.S. players.
“The goals of legislation are simple,” he said. “Let Americans play online poker in the privacy of their homes, and create jobs and revenues here in America. Only federal legislation can accomplish that, by creating a well-regulated system of online poker. And only federal legislation can clear up the current ambiguities in U.S. law and crack down on other online gambling like sports betting and casino games.”
Loveman went on to explain that, “as a game of skill, poker deserves to be treated differently than other forms of gambling.” He also encourages future legislation to put safeguards in place that combats underage players, prevents money laundering and fraud and identifies cheating.
He closed by offering up a future glimpse at Black Friday’s events, stating, “One day, we’ll look back at 2011 and laugh at the folly of a ban on Internet poker, just like we now think about Prohibition.”
Loveman failed to mention his company’s relationship with 888 Holdings LLC, an Israel-based internet gaming provider operating in Gibraltar. The deal was approved by the Nevada Gaming Control Board in early March. After Black Friday’s indictment, Wynn Resorts ended a partnership with PokerStars and Fertitta Interactive followed suit with Full Tilt Poker.
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