Not everyone has the time to stay on top of all of the news that breaks daily in the poker world, but that doesn’t mean you have to be out of the loop entirely. Every week, Card Player will bring you everything you need to know to stay informed about your favorite events, players and industry happenings.
Here’s a look at this week’s poker news.
Suggest Online Poker Regulation To Congress Deficit Committee
The United States Congress Joint Select Committee on Deficit Reduction launched its website on Wednesday, asking the American public for feedback and recommendations on how they can reduce the nation’s federal deficit.
Card Player is asking all poker players to please take some time to visit the site and urge the committee to license and regulate online poker in an effort to reduce the deficit and create jobs. Making your voice heard only takes a few moments and could make a big difference in the poker community.
Full Tilt Faces Second Class Action Lawsuit In Canada
The Montreal Gazette has reported that Jeff Orenstein, an attorney for the Consumer Law Group, has filed a class-action lawsuit against Full Tilt Poker in the Superior Court of Quebec on behalf of Canadian online poker players who currently have funds tied up on the site.
According to a statement on the CLG wesbite, “the class action lawsuit involves Full Tilt Poker’s illegal freezing of customers’ money that is kept in their internet poker player’s accounts.” Orenstein estimates that Canadian players have between $5-$10 million currently being withheld after the U.S. Department of Justice’s indictment on Black Friday last May.
After having their first hearing postponed, Full Tilt was granted a private hearing scheduled for Monday. The site has retained the services of financial advisers and plans to reduce their costs by €12 million by laying off as many as 250 employees.
Massachusetts Considers Intrastate Online Poker Legislation
Less than two years after lawmakers in the state of Massachusetts were considering criminalizing online poker, the state is now looking into expressly legalizing it as part of proposals to build the state’s first land-based casinos and expand gambling.
The bill would allow for three casinos and a slot parlor. “We think it’s a home run for the citizens and taxpayers,” said State Rep. Joseph Wagner (D-Chicopee), chairman of the legislative committee on Economic Development and Emerging Technologies. “The fact that the committee is releasing a bill is an indication that there is support from the governor, the Senate president and the speaker.” Wagner said the House is looking to pass the bill sometime in September.
On Friday, the Boston Herald reported that Rep. Dan Winslow (R-Norfolk) is seeking to push a plan amidst the casino debate that would allow up to five licenses to operate intrastate Internet poker. The crux of the argument for Winslow is that online poker will benefit the state beyond what the proposed three casinos and one slot parlor could offer in terms of high-tech jobs and tax revenue.
Wynn Resorts Gets Approval For Second Property In Macau
On Sunday, Wynn Resorts’ Macau enterprise announced it had reached a deal with the government of the world’s most profitable gaming market to build its second brick-and-mortar casino.
According to the Associated Press, Wynn Macau will pay more than $193 million in land premiums, split into a down payment and eight semiannual payments, to the Macau government for the 25-year land lease. The government is also charging Wynn Macau $771,738 a year in rent during the resort’s development, which will go up to about $1.08 million when the project is finished.
Las Vegas Needs To Catch Up With New Internet Technology
Mark Mayer of Gaming Today points out that Nevada has fallen behind Europe in the field of internet technology. Nevada Gaming Commisioner Randolph Townsend explained to a group at an I-Gaming workshop at UNLV that while they are not acting until federal legislation passes, they must still be ready to ensure to insure the integrity of online games.
“We will be prepared when I-gaming is done,” he said. “There will be no discretion (given) to nonpayment of taxes. Internet gaming can be worth billions to Nevada.”
German State Legalizes Online Poker
The German state of Schleswig-Holstein today passed legislation to legalize and regulate online poker. It is the first German state to do so and the online gaming industry now hopes the other 15 states in the country will follow suit and incorporate the law into their statute books.
There will be an unlimited number of licenses issued in the state and tax will be levied at 20 percent of gross profits. The law comes into force on January 1, 2012 with licences valid from March 1.
The news of legislation was welcome news for Betfair and bwin.party, whose share rose as a result.
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