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Non-Tech : Gambling, The Next Great Internet Industry

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To: kidl who wrote (798)10/1/2002 8:11:49 AM
From: Herc  Read Replies (1) of 827
 
ANOTHER SUSPENSION VOTE LIKE TWO YEARS AGO.

WASHINGTON – As reported by the Las Vegas Review-Journal: ``Pressured by other Republican leaders, House Majority Leader Dick Armey, R-Texas, has scheduled a vote Tuesday on a bill to ban Internet gambling.

``The bill will require a two-thirds majority to pass since it will be voted on under an expedited procedure. Sponsored by Rep. Jim Leach, R-Iowa, the bill would prohibit the use of credit cards, checks and electronic fund transfers to pay for Internet gambling.

``As recently as last week, Armey reportedly was reluctant to schedule a vote on the Leach bill because it was too controversial and unlikely to receive a two-thirds vote.

``But House Speaker Dennis Hastert, R-Ill., pressed for a vote during a House GOP leadership meeting on Tuesday.

``Bear, Stearns & Co., an investment firm, estimates there are 1,800 Internet gambling sites and the industry is projected to produce annual revenue of $4.2 billion by 2003.

``…`The testimony this month by FBI Director (Robert) Mueller that Internet gambling was a substantial means of money laundering used by terrorists and criminal elements also was important,’ Leach chief of staff Bill Tate said…”

- September 30, 2002
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