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IGT Expresses Doubt U.S. Congress Will Regulate Internet Gambling

13 December 2010 by Devon Chappell

IGTInternational Game Technology (IGT) has long been associated with brick ‘n mortar casino operations. With the debut of Wager Works software also came the debut of IGT’s entrance in the iGaming industry. And while still not widely known as a “big” player in the world of online casinos, IGT nonetheless has major interest in becoming a top B2B provider for those companies which have already established a strong footing providing a wide range of services needed for top-tier internet betting operations.

Such interest no doubt applies to the prospects of having online gambling regulated in the United States, which at this point in time, doesn’t look very likely. Three weeks ago, nobody knew what was going to happen on the U.S. online gambling front. About one week ago, things looked more promising when Senate Majority Leader, Harry Reid, said he would make a bid to get online poker legalized. But now, it doesn’t look as if poker even  stands a shot at getting regulated and taxed.

And yet, those who continue to make the most money in America will receive an extension on tax breaks passed under the Bush administration. Maybe Obama and the Democrats know something that I don’t know, but that’s for a blog post that’s neither here nor there.

IGT seems to at least be resigned to the notion that the current Congress will not make any headway on getting legislation approved before Congress breaks for the Holiday’s, not to mention the next two years or more. IGT’s Vice President of Investor Relations, Mathew Moyer, said in a phone interview with Bloomberg News that the chances of an online gambling bill passing in the lame duck session of Congress are “probably slim”.

However, if and when online gambling becomes liberalized in the States and the big casino brands step up to take their share, Moyer says IGT will be in a position to license its wares to the likes of MGM and Sands, much like they are already doing with the biggest names in the European and UK betting scene, such as Ladbrokes, Betfair, 888, Paddy Power, Party Gaming and William Hill.

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