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#21
09-30-2006, 07:32 PM
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Re: industry giants say, \"Not so fast\"
[ QUOTE ]
Any thought as to why Harrah's and MGM did absolutley nothing to stop this legislation? Could they have wanted it, so they can come in and start their own US based sites. Once, they mobilize their huge Lobby's, is it possible they can get Online Poker regulated? Serioulsy, Harry Reid could have put a hold on this bill but chose not to. Whose to say that after they initially outlaw online poker, the US based companies fund studies. Those studies say the Gov't could make an assload if it was properly regulated, obviously this would be a given. Then Harrah's, MGM etc. get it regulated. Finally, with their deep pockets they can go ahead an eventually buy up Party or Poker Stars. Then we are basically where we are today, sans prohibition ............. anyway just an out of the box thought. [/quote It is certainly possible. Because of the $$$$ at stake there will be many brilliant business and legal minds trying to navigate this landmine. 
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#22
09-30-2006, 07:44 PM
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Re: industry giants say, \"Not so fast\"
[ QUOTE ]
[ QUOTE ] Any thought as to why Harrah's and MGM did absolutley nothing to stop this legislation? Could they have wanted it, so they can come in and start their own US based sites. Once, they mobilize their huge Lobby's, is it possible they can get Online Poker regulated? Serioulsy, Harry Reid could have put a hold on this bill but chose not to. Whose to say that after they initially outlaw online poker, the US based companies fund studies. Those studies say the Gov't could make an assload if it was properly regulated, obviously this would be a given. Then Harrah's, MGM etc. get it regulated. Finally, with their deep pockets they can go ahead an eventually buy up Party or Poker Stars. Then we are basically where we are today, sans prohibition ............. anyway just an out of the box thought. [/quote It is certainly possible. Because of the $$$$ at stake there will be many brilliant business and legal minds trying to navigate this landmine. [/ QUOTE ]
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#23
09-30-2006, 09:20 PM
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Re: industry giants say, \"Not so fast\"
This article reeks. I don't see how any of those 'industry giants' can't see how stupid it is to be 'releasing' statements after the bill has already been passed. The time for action was before it went through. I mean, what do these bums really think they are going to accomplish?
[ QUOTE ] amulet: i spoke with the general counsel of one of the top sites 3 weeks ago. he reiterated that that they had studied the legislation and that they felt; 1. it was unlikely to pass . 2. it would be declared unconstitutional in time. [/ QUOTE ] [ QUOTE ] Mason Malmuth (09/17/06): Here's what we plan to do. On Monday, we're going to call our attorney to make an appointment. In addition to some other legal matters, we plan to discuss the legislation , the PPA, and exactly what our role should be. Just for a little background, our attorney and his firm specialize in intellectual property and Internet Gambling. He also does all the intellectual property work for Steve Wynn and Kirk Kikorian, and has been our attorney since 1987. In previous conversations, the feeling was that the legislation would not pass and the best role for us was not to do anything , and the opinion on the PPA was consistent with mine. However, now with the possibility of the legislation being attached to another bill, things may have changed. So all of these subjects will be brought up again. [/ QUOTE ] Seems like alot of this type of thinking is going around. Flight_Risk
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#24
09-30-2006, 09:28 PM
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Re: industry giants say, \"Not so fast\"
[ QUOTE ]
This article reeks. I don't see how any of those 'industry giants' can't see how stupid it is to be 'releasing' statements after the bill has already been passed. The time for action was before it went through. I mean, what do these bums really think they are going to accomplish? [ QUOTE ] amulet: i spoke with the general counsel of one of the top sites 3 weeks ago. he reiterated that that they had studied the legislation and that they felt; 1. it was unlikely to pass . 2. it would be declared unconstitutional in time. [/ QUOTE ] [ QUOTE ] Mason Malmuth (09/17/06): Here's what we plan to do. On Monday, we're going to call our attorney to make an appointment. In addition to some other legal matters, we plan to discuss the legislation , the PPA, and exactly what our role should be. Just for a little background, our attorney and his firm specialize in intellectual property and Internet Gambling. He also does all the intellectual property work for Steve Wynn and Kirk Kikorian, and has been our attorney since 1987. In previous conversations, the feeling was that the legislation would not pass and the best role for us was not to do anything , and the opinion on the PPA was consistent with mine. However, now with the possibility of the legislation being attached to another bill, things may have changed. So all of these subjects will be brought up again. [/ QUOTE ] Seems like alot of this type of thinking is going around. Flight_Risk [/ QUOTE ] Yeah, they must all use the same do-nothing lawyer. LOL This has to have been the worst read in the history of poker.
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#25
09-30-2006, 09:39 PM
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xpost from STTF
[ QUOTE ]
[ QUOTE ] This article reeks. I don't see how any of those 'industry giants' can't see how stupid it is to be 'releasing' statements after the bill has already been passed. The time for action was before it went through. I mean, what do these bums really think they are going to accomplish? [ QUOTE ] amulet: i spoke with the general counsel of one of the top sites 3 weeks ago. he reiterated that that they had studied the legislation and that they felt; 1. it was unlikely to pass . 2. it would be declared unconstitutional in time. [/ QUOTE ] [ QUOTE ] Mason Malmuth (09/17/06): Here's what we plan to do. On Monday, we're going to call our attorney to make an appointment. In addition to some other legal matters, we plan to discuss the legislation , the PPA, and exactly what our role should be. Just for a little background, our attorney and his firm specialize in intellectual property and Internet Gambling. He also does all the intellectual property work for Steve Wynn and Kirk Kikorian, and has been our attorney since 1987. In previous conversations, the feeling was that the legislation would not pass and the best role for us was not to do anything , and the opinion on the PPA was consistent with mine. However, now with the possibility of the legislation being attached to another bill, things may have changed. So all of these subjects will be brought up again. [/ QUOTE ] Seems like alot of this type of thinking is going around. Flight_Risk [/ QUOTE ] Yeah, it seems like they all use the same lawyer. LOL [/ QUOTE ] [ QUOTE ] Hello Bobby, We appreciate and share your concerns about the bill which passed in the US Congress today regarding the funding of internet gaming, as an attachment to a Port Security bill. PokerStars' management and legal team are examining the bill at this time. Until we understand the potential impact of the bill , we cannot comment on how it will impact our players or PokerStars. Please note that the bill includes a 270-day window for enforcement procedures to be established, so we do not expect to see any immediate changes in the ability to transfer funds to and from PokerStars. Also please remember that your money is safe on PokerStars. All player funds are in a segregated account at the Royal Bank of Scotland. As always, we thank you for playing on PokerStars. Regards, Grant PokerStars Support Team [/ QUOTE ] You mean to tell me you're still examining the bill and don't already know the potential impact by now? Wow. Flight_Risk
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#26
09-30-2006, 09:53 PM
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Re: industry giants say, \"Not so fast\"
[ QUOTE ]
This article reeks. I don't see how any of those 'industry giants' can't see how stupid it is to be 'releasing' statements after the bill has already been passed. The time for action was before it went through. I mean, what do these bums really think they are going to accomplish? [/ QUOTE ] this is one of the dumbest things i have read in a while. i am assuming it is a joke?
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#27
09-30-2006, 09:58 PM
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Re: industry giants say, \"Not so fast\"
[ QUOTE ]
[ QUOTE ] This article reeks. I don't see how any of those 'industry giants' can't see how stupid it is to be 'releasing' statements after the bill has already been passed. The time for action was before it went through. I mean, what do these bums really think they are going to accomplish? [/ QUOTE ] this is one of the dumbest things i have read in a while. i am assuming it is a joke? [/ QUOTE ] Find the joke. Flight_Risk
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#28
09-30-2006, 10:10 PM
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Re: industry giants say, \"Not so fast\"
To everyone saying why haven't the "giants" done anything until after the bill was passed, I'm guessing they were more or less caught with their pants down on this one.
They were not looking (correct me if I'm wrong) for the legislation to come in the form of an attached ammendment to other legislation.
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#29
09-30-2006, 10:29 PM
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Re: industry giants say, \"Not so fast\"
[ QUOTE ]
To everyone saying why haven't the "giants" done anything until after the bill was passed, I'm guessing they were more or less caught with their pants down on this one. They were not looking (correct me if I'm wrong) for the legislation to come in the form of an attached ammendment to other legislation. [/ QUOTE ] Anytime the cash cow of your business is threatened, you don't sit around and make assumptions that the worse probably won't happen. You assume it can and will happen, then you make every effort to prevent that from happening. The fact that the industry giants or even 2+2 Publishing thought the bill was unlikely to pass or that it wouldn't pass at all led to inaction. Had they been vigorously involved from the outset instead basking in the glory of their coffers overflowing, having this bill be attached as an amendment would've gotten recognized and stuffed out a long time ago. It's no excuse. They all will suffer dearly for such incompetent inaction. Flight_Risk
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#30
09-30-2006, 10:29 PM
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Re: industry giants say, \"Not so fast\"
[ QUOTE ]
To everyone saying why haven't the "giants" done anything until after the bill was passed, I'm guessing they were more or less caught with their pants down on this one. They were not looking (correct me if I'm wrong) for the legislation to come in the form of an attached ammendment to other legislation. [/ QUOTE ] Surely you jest? Would you really expect a customer service rep to give the company's official position to a player who contacts them BEFORE they have a press conference to give that same official statement. They have known this law was an imminent possibility for a number of years and I for one would be absolutely in shock if they did not spend a decent amount of their enormous profits on the longterm legality of internet poker in the US of A. Lets just see what happens.
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