INTERNET GAMing TO BE LEGAL SOON! It's about time!!!

Internet gaming to be legal soon. I am not a fan of Congressman Barney Frank, but sometimes he is amazing to me. Gambling one of the Worlds oldest hobbies and no government entity should be in the way of an individuals right to lose his/her shirt, pants, home and family. No government agency should be responsible for a gamblers loss of house, job, family,etc.

Companies within certain industries should take it upon themselves to keep government regulators off their backs to "SELF-REGULATEFrank unveils Internet gambling legislation

May 8, 2009

As posted on the Web site of the House Committee on Financial Services, Committee Chairman Barney Frank (D-MA) unveiled legislation that would enable Americans to bet online and put an end to an “inappropriate interference with their personal freedom.”

H.R. 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act of 2009 would establish a federal regulatory and enforcement framework under which Internet gambling operators could obtain licenses authorizing them to accept bets and wagers from individuals in the United States. The legislation comes in response to the enactment of Unlawful Internet Gambling Enforcement Act (UIGEA), which restricted the use of the payments system for Americans who gamble online.

In addition, Chairman Frank announced he is introducing separate legislation to delay the implementation of regulations pursuant to the 2006-passed UIGEA, which are set to go into effect December 1, 2009. The regulations were completed by the Bush Administration at the last minute, and the legislation will stop Federal regulators from enforcing the UIGEA until Congress has had a chance to decide national policy.

Click here to see the text of H.R. 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act (PDF)

SUMMARY
The Internet Gambling Regulation Consumer Protection & Enforcement Act would establish a federal regulatory and enforcement framework under which Internet gambling operators could obtain licenses authorizing them to accept bets and wagers from individuals in the U.S., on the condition that they maintain effective protections against underage gambling, compulsive gambling, money laundering and fraud, and enforce prohibitions or restrictions on types of gambling prohibited by states, and Indian Tribes.

LICENSING
This bill would provide the Department of the Treasury with the exclusive authority to establish regulations and license Internet gambling operators. License applicants would be:

* Subject to review of their financial condition and corporate structure, business experience, suitability, and criminal background checks, and agree to be subject to U.S. jurisdiction
* Prohibited from accepting any type of bet or wager that is initiated or terminated in a state or tribal land that prohibits that type of Internet gambling, or any sports gambling or wager prohibited under the Professional and Amateur Sports Protection Act.


ENFORCEMENT
This bill would provide Treasury the authority to revoke or terminate the license of any operator who fails to comply with the bill’s provisions. Violators could be fined or imprisoned for up to five years, or both.

SAFEGUARDS AND PROTECTIONS

* Any Internet gambling operator receiving a license would be required to have the appropriate safeguards in place to:
* Ensure an individual placing a bet or wager is of legal age as defined by the law of the State or tribal area in which the individual is located at the time the bet or wager is placed
* Ensure an individual placing a bet or wager is physically located in a jurisdiction that permits Internet gambling at the time a bet or wager is placed.
* Protect the privacy and security of individuals engaged in internet gambling
* Combat fraud and money laundering as prescribed by regulations issued by the Secretary of the Treasury or designee
* Combat Compulsive Internet Gambling

" for the good of society and for their employees who are the key to their personal wealth and success.

Above you have just read an article copied from the "CASINO JOURNAL" and "IGWB" both magazines are specific to the gambling industry.

I TOLD ALL OF YOU ABOUT TRUMP STOCK

I have been stating since 2007, that Trump Entertainment could not survive and many continued to purchase common stock in Trump and hold onto their investments. The Stock was delisted from Nasdaq this past Friday and will now move to either the OTCBB or the pink sheets.

I have been preaching for the management to eliminate gaming at the Plaza and convert it to rooms and possibly condo's, placing their limited funds into debt reduction and the Taj Mahal in order to survive, again no one listened.

I now rest my case, soon the TRUMP name will be removed from the three building with the Marina hopefully going to Jimmy Buffet, he should lower his offer too $150-million, and Trump management should take it and use the money at the Taj Mahal and I still stand by with closing Trump Plaza to save Financial resources.

All the gaming properties should consider going back to a "LESS IS MORE" marketing mentality.
For example: Lower the table minimums on Roulette to $2.00, even a dollar minimum, lower the craps and blackjack table minimums, in order to bring players into the properties, and it will help the restaurants and lower the room rates to $25.00 a night, even during the summer months. BET LOW, WIN HIGH.

Atlantic City is battling the PA SLOTS and NY slots market. They need to respond with slots giving back a bigger win to the slot player and return to the days when "COMPS" were king for the little guy who spent only $100.00 at a slot machine,Roulette table, etc. I remember when you couldn't get near a $2.00 roulette table and a $3.00 black jack table at the Playboy,when it existed. I never missed a Tuesday night at the Roulette table at the Sands.

Atlantic City, while working hard to go upscale seeking out the "WHALES" has lost their regulars by eliminating many of the perks for the small dollar customers. The 11 casino's need to look at the marketing efforts of the past and bring those gamblers back.

Many who visit the PA slot "parlors" find the slots convenient, save gas, no uncomfortable ride on the bus ride to AC. Now it s time for the management at all properties to step up the service to the gamblers they lost with "NEW PERKS."

Any Casino property owner who would like to consult with me on bringing gamblers back to thier properties can reach me at: frontier22@aol.com.

So for now, thats the way ti is, Monday February 23,2009.

GO PHILLIES
www.lumberkings.biz

WOW! BEEN A LONG TIME

Hello Everyone:

We have a New President: Barack Obama, Yeh Baby!
Now for the good stuff, Gasoline will hit .99 a gallon by Spring, maybe sooner!
The Senate will not bailout the "BIG THREE", say hello to Bankruptcy!
I believe, Congress should force GM & Chrysler to merge!
I believe, GM should spin off Saturn as an independent car company!
I believe, The Big Three needs to introduce fuel efficient cars in 2009, not 2012.

When you hear the politicos, crying that we need an American auto industry, we do have an American auto industry, Honda, BMW, TOYOTA, etc, they all have US plants, Cars are built here in the USA. Do we really need to keep GM, Chrysler, and Ford limping along? I don't think so!!!

Hey check out my new website: www.lumberkings.biz

Take a look at my latest T-shirts!

Have a great day and GO PHILS!