STATEMENT OF JOHN KENNEDY FITZGERALD, CHIEF EXECUTIVE OF
THE INTERACTIVE GAMING COUNCIL (IGC)
ON:
U.S. TREASURY
DEPARTMENT AND FEDERAL
RESERVE DECISION TO DELAY UIGEA REGULATIONS
VANCOUVER, British Columbia, November 27, 2009-- "The
Interactive Gaming Council (IGC) commends today's actions by the U.S. Department of
the Treasury and the Board of Governors of the Federal Reserve System to delay
by six months the application of the regulations issued pursuant to the
Unlawful Internet Gambling Enforcement Act (UIGEA).
“We applaud
Chairman Frank, Senator Reid and other members of Congress for their leadership
in convincing the agencies to delay the application of this flawed regulation,
which is based on a flawed law.
“IGC hopes that the U.S. Congress will
use the intervening time to move U.S. law away from the ambiguous
attempts at prohibition contained in UIGEA, and toward a rational policy of
licensing and regulation, which respects individual freedom, protects players,
and raises needed revenue for federal and state governments. We thank
Chairman Frank for his efforts toward that goal, and we look forward to working
with him in any way possible to achieve it."
Contacts:
John
Kennedy FitzGerald, Chief Executive,
Keith Furlong, Deputy Director,
|
Phone: 604-732-3833 // Mobile: 732-687-0880
INTRODUCTION OF INTERNET GAMING REGULATION LEGISLATION IN THE U.S.
INTRODUCTION OF INTERNET GAMING REGULATION LEGISLATION IN THE U.S.
Statement by John K. FitzGerald, Chief
Executive of the Interactive Gaming Council (IGC)
May 6, 2009 - “The IGC and its’ members enthusiastically
endorse the legislation introduced by House Financial Services Committee
Chairman Barney Frank and Rep. Jim McDermott to license, regulate and tax
non-sports Internet gaming in the United States.We believe that licensing and regulation is the best way to protect
minors and problem gamblers, while respecting the rights of adults to select
their own entertainment choices.Today,
dozens of countries employ such regulatory systems, and it is time for the U.S. to do so as well.
“We also thank Chairman Frank for
taking an important step to address the flawed regulations that were finalized
pursuant to the Unlawful Internet Gambling Enforcement Act.We believe that there is a better way for the
U.S. to stop prohibited gambling, such as sports betting,
without the burdens this regulation will impose on financial institutions and
legal gaming operations.”
“Rep. McDermott’s legislation
recognizes that, against the backdrop of massive federal deficits, IGC represents an industry that is
asking to pay U.S. taxes; his legislation would
provide a stream of revenue that can fund important programs or reduce the
federal deficit.”
“We congratulate Chairman Frank
and Rep. McDermott on their leadership on these issues, and we look forward to
working with them as they move the United States toward a rational policy of
licensing and regulating Internet gaming.”
Contacts:
Keith Furlong, Deputy Director, | Phone: 1-732-687-0880
Regulating Internet Gambling Would Generate Billions in New Revenue for Critical Government Programs
Regulating Internet Gambling Would Generate Billions in New Revenue for Critical Government Programs
WASHINGTON, /PRNewswire-USNewswire/ January 31, 2008 - A new tax revenue analysis announced by Representative Jim McDermott (D-WA) estimates that regulating Internet gambling would generate between $8.7 billion to $42.8 billion in federal revenues over its first ten years.
