Company expects $50 million in returns if Frank bill passes
Saturday, online gambling news source OnlineCasinoSphere.com reported that Harrah’s Entertainment Inc. is stepping up its lobbying efforts to repeal the U.S. ban on online gambling. Harrah’s—owner of the Harrah’s, Caesars, Horseshoe and World Series of Poker brands—recently partnered with 888.com to create its own online casino.
In an article in the Legal Times June 8, reporter Carrie Levine said Harrah’s engaged lobbying firm Capitol Counsel the previous Monday. This, Levine said, is in addition to several other lobbying firms Harrah’s spent $905,515 on in the first quarter of 2010, including Podesta Group, Akin Gump Strauss Hauer and Feld, and Brownstein Hyatt Farber Schreck.
The news comes weeks after Rep. Barney Frank, Dem-Mass., announced the House Financial Services Committee will hold a markup hearing in July on his Internet Gambling Regulation, Consumer Protection and Enforcement Act. A markup hearing is the final step before the committee can submit the bill for a general vote in the House of Representatives.
If signed into law, the bill would repeal the U.S.’s Unlawful Internet Gambling Enforcement Ace of 2006. Despite Nevada’s indefinite moratorium on U.S. gambling site development, Harrah’s has continued to develop its online property and dumped more than $1 million into its lobbying efforts since Jan. 2010.
In its report on Harrah’s redoubled lobbying, onlinecasino.org said the company expects online gambling liberalization in the U.S. could net Harrah’s more than $50 million. The news source added that the company has announced its increased lobbying to reassure other land-based casino operators, who have long resisted repeal of the UIGEA.
According to Capital Counsel’s disclosure paperwork, the lobbying firm will seek to educate lawmakers and combat myths about online gambling. Already, OnlineCasinoSphere.com said, Harrah’s Entertainment’s efforts have convinced the American Gaming Association, which recently revised its stance on online gambling.
