Conspiracy Theory

[Sarge85]

I find it odd that on the eve of a major, if not total breakdown of online poker -- this happens:

http://www.bloomberg.com/apps/news?p...amp;refer=home
Harrah's Gets $15.1 Billion Buyout Offer From Apollo (Update2)

By Brett Cole and Oliver Staley

Oct. 2 (Bloomberg) -- Harrah's Entertainment Inc., the world's largest casino operator, received a $15.1 billion takeover offer from Apollo Management and Texas Pacific Group in what may be the biggest-ever buyout of a casino company.

Sarge[img]/images/graemlins/diamond.gif[/img]

I don't know what i find it odd -- I just do.

[big e]

Here some more on the Harrah’s angle

While some offshore fund-transfer companies might continue to profit off online gambling in America, onshore bookies in the U.S. now at least have palpable cause for celebration, said Kenneth Weitzner, an online gambling expert known in the industry as The Shrink. On his Eye on Gambling Web site, Wietzner noted that New York City bookmakers were seen partying in Central Park late Friday night and into the early hours. "Their business is expected to quadruple," he said.
Dresdner's Lee agrees that U.S. gambling resorts and casinos like MGM Mirage (nyse: MGM - news - people ) and Harrah's Entertainment (nyse: HET - news - people )--which is reportedly being eyed by a private-equity consortium--may be the few to profit from the new law, along with the horse-racing industry, lotteries and fantasy sports operators, who have all been carved out of the new law.
Lee believes Frist's political ambition, lobbying from the Christian right and a protectionist sentiment were the three main drivers behind the bill. He also thinks that a few years down the line, if the U.S. does eventually allow for a regulated online gambling industry, American companies will get first dibs on licenses before foreign operators like PartyGaming and 888 Holdings can, after seeing their earnings severely dented, limp back in.
Full story here
http://www.forbes.com/business/2006/10/0...02gambling.html

[Sarge85]

[ QUOTE ]
Here some more on the Harrah’s angle

While some offshore fund-transfer companies might continue to profit off online gambling in America, onshore bookies in the U.S. now at least have palpable cause for celebration, said Kenneth Weitzner, an online gambling expert known in the industry as The Shrink. On his Eye on Gambling Web site, Wietzner noted that New York City bookmakers were seen partying in Central Park late Friday night and into the early hours. "Their business is expected to quadruple," he said.
Dresdner's Lee agrees that U.S. gambling resorts and casinos like MGM Mirage (nyse: MGM - news - people ) and Harrah's Entertainment (nyse: HET - news - people )--which is reportedly being eyed by a private-equity consortium--may be the few to profit from the new law, along with the horse-racing industry, lotteries and fantasy sports operators, who have all been carved out of the new law.
Lee believes Frist's political ambition, lobbying from the Christian right and a protectionist sentiment were the three main drivers behind the bill. He also thinks that a few years down the line, if the U.S. does eventually allow for a regulated online gambling industry, American companies will get first dibs on licenses before foreign operators like PartyGaming and 888 Holdings can, after seeing their earnings severely dented, limp back in.
Full story here
http://www.forbes.com/business/2006/10/0...02gambling.html

[/ QUOTE ]

Well that might explain the money muscle to get this ram-rodded through.

I don't believe the morality police were ever behind this bill, -- it's always going to be about money and this makes sense.

That could be some silver lining in all actuallity. It may take awhile, but this may have been the first step of legitimizing the whole thing.

Sarge[img]/images/graemlins/diamond.gif[/img]