 Change in US
Political Stance Raises Online Casinos Stocks
The London Stock Exchange saw a rise in online
casinos share prices this week, following a volatile period.
This upward surge is attributed to the American Gaming
Association taking a more relaxed view to the proposed US
legislation on online casinos in the U.S. The AGA have been set
against the legalization of any form of online casinos until
now, However, they have now called for an investigation into the
possible effects of legalization following a WTO ruling that a
ban on offshore online casinos would be illegal. The online
gaming industry has high hopes that this report will benefit
their future in the United States.
Having realized that an all out ban would be illegal and
violation of civil rights, the government has started to assess
the benefits of a regulated online casinos industry.
The U.S ban was never a massive threat to the industry as it was
always unrealistic, however it did reduce investor confidence.
Share prices have reflected the wise decision of the AGA to
reconsider their decision. Online casinos are now looking
forward to a period of growth.
The U.S is the most important market in the online casinos
world. An affluent and large population with a national
tradition of gambling is a he asset to online casinos and they
would suffer to lose that market to puritanical policies.
The threat was unrealistic; however the Senate gave online
casinos a shake by causing potential investors to be prudent in
their assessment of the industry. The idea of an all out ban was
an abomination to many American citizens who felt robbed of
their civil liberties. There could have been a huge out cry; not
only from online casinos patrons but from all Americans that
fell they have the right to spend their disposable income as
they choose. The great democracy that is The U.S. would have
been very embarrassed by introducing a policy that is more
congruent with countries such as China that believe in an
opposite Political philosophy.
The online casinos industry exists and it is prudent of the AGA
to recognize the industry and its popularity in the United
States. A regulated, responsible industry is preferable to
sending it underground into the hands of organized crime; the
whole thing stinks of prohibition. Favorable legislation for
online casinos in the U.S could have the industry set for one of
the biggest booms in history, so watch out for companies like
PlayTech that are climbing the London Stock Market, ready to
explode.
I am sure that many members of the Republican right wing would
love to serve their puritanical purposes by imposing an all out
ban on online casinos, however, this would be irresponsible and
would rob the country of millions, even billions of dollars in
tax revenue. This would effect all U.S. citizens, ask the poor
and the handicapped if they would prefer to have increase public
benefits and health care or a puritanical, dictatorial regime.
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