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Caesars CEO: Not If, but When for Regulated Online Poker
Citing a “bizarre” framework that shuts out American companies, Caesars’ CEO Gary Loveman told the Financial Times in a recent interview the feeling among legislators is that regulated online poker is now an inevitability.
Among the key highlights from his video interview with LA Bureau Chief Matthew Garrahan, Loveman said there is a will in Congress to make changes in existing laws and the question is now not if, but when.
"You find when you talk with Congressional members and Senators about any piece of legislation you start with a certain level of skepticism and the sense that this will never happen.
"We certainly had that years ago. Now there's a sense of inevitability to it.
"People are not talking about 'could this happen' or 'if this'll happen' there's now a sense of 'when should it happen and under what circumstances' and that's a very important change of thought."
Loveman was also quoted in the text interview as saying:
“I do believe there is a will in Congress to correct this …. we ought to clean up the regulatory and policing environment and that’s what we’re seeking.
“First, it creates the appropriate legal and enforcement environment where the game is being provided fairly by regulated entities that are known to the American authorities.
“Second, there’s a lot of job creation associated with this; we could provide thousands of American jobs if given the right to do so and there [also] would be the benefit of tax revenues.”
“I can’t think of another example where there is something an American can buy that no American entity can provide.”
US congressman Michael Grimm also recently released a statement connecting online poker to new US jobs, saying:
“Together we must fight for the return of quality, good paying jobs to the United States and a strong regulatory framework for legal online poker will contribute to that goal.”
Howard Stutz, a reporter for the Las Vegas Review-Journal, fueled speculation of a speedier push of legislation through Congress even further over the weekend when he tweeted:
"Senate Majority Leader Harry Reid tells R-J staff Internet poker legislation 'will get done.'"
See the full interview with Loveman at the Financial Times website.