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Online Casino Executive Predicts Bright Future for the Industry

“The online casino industry has many reasons to be optimistic about its future, now that we have seen some political changes” said Frank Fahrenkopf, CEO and President of the American Gaming Association, in a recent interview with Reuters news agency. According to Fahrenkop, the Democrat-dominated Congress will be much more pro-online casino than its predecessor. “I think that the change is very good for us, as the new leadership is already familiar with our ideas”.

One of those who are “familiar” with the online casino industry is Democrat Senator Harry Reid from Nevada, who is a former casino regulator. Reid was elected last week as the Senate majority leader, and Fahrenkopf couldn’t be happier: “Harry Reid probably knows the online casino industry better than anyone else”. Among others, Fahrenkopf also named the Republican Senator Trent Lott from Mississippi, Republican John Conyers and Massachusetts Democrat Barney Frank as three individuals that will be able to help the American Gaming Association to fulfill its goals.

Following the legislation of the anti-online casino industry bill, also known as the Unlawful Internet Gambling Enforcement Act, many of the legitimate US-based online gambling web sites simply decided not to take risks and moved to other parts of the world.” Although the goal of the bill was to protect US customers, the Congress achieved exactly the opposite. While the responsible and well regulated online casino companies are leaving the US, only those unregulated and unsafe sites are staying here, and we should do anything possible to change that situation” Fahrenkopf concluded.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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