Online gaming, worth $12B, looking very attractive

With online gaming taking in nearly $12 billion in revenues, the industry is looking very attractive to people who have stayed away from it, The Legal Times reports.

Some of the big U.S. gaming companies are seeking to get in the market due to political, legal and other pressures facing their land facilities. "There has been a clear shift in attitude by the major publicly traded gaming companies," Michael Pollock, a casino industry analyst, told The Times.

Efforts to ban Internet gaming have been making the rounds in Congress but none have succeeded. The National Indian Gaming Association lobbied against a recent bill because it carved out an exception for states but not for tribes.

Rep. John Shadegg (R-Arizona) hopes to reintroduce an anti-Internet gaming bill. He notes that disgraced lobbyist Jack Abramoff, on behalf of a gaming client and a tribal client, fought the proposal, although other lobbyists say he is giving Abramoff too much credit.

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Have the Tables Turned for Online Gambling? (The Legal Times 2/7)