TORONTO, July 29 /CNW/ - PokerStars, the world's largest poker site,
welcomes news of the successful mark up of H.R. 2267: The Internet
Gambling Regulation, Consumer Protection, and Enforcement Act in the
House Financial Services Committee by an overwhelming, bipartisan margin
The bill, sponsored by Committee Chairman Barney Frank, offers a long
overdue common sense approach to internet gaming regulation in the
United States. PokerStars wholeheartedly supports the efforts of
Chairman Frank and the bill's proponents.
This bill represents the most significant US legislative accomplishment
in the history of the internet gaming industry. The Committee vote was
one step in a road to passage of H.R. 2267 in the US Congress. Further
steps are required and a great deal of hard work for the legislators
lies in store.
It is important to note that H.R. 2267 was passed out of Committee with
the addition of certain amendments. Two in particular warrant additional
Representative Brad Sherman offered language accepted by the Committee
which would in part render as unsuitable for licensure any person who
fails to certify in writing that it and its affiliated business entities
have never committed an intentional felony violation of Federal
or State gambling laws.
Ranking Member Spencer Bachus and Representative Michelle Bachmann also
sponsored an amendment, accepted by the Committee, which would in part
render unsuitable for licensing any person who knowingly participated in
illegal internet gambling activity after enactment of the UIGEA in
The UIGEA by its clear terms shall not be construed as "altering,
limiting or extending any Federal or State law or Tribal-State compact
prohibiting, permitting, or regulating gambling within the United
States". Therefore, in light of the more comprehensive view on this
point set forth in Rep. Sherman's amendment, the Bachus/Bachmann
amendment, with its UIGEA timeline, appears redundant (as Ranking Member
Bachus himself observed during the mark up).
Nevertheless, PokerStars supports the provisions in both amendments as
neither would adversely affect the availability of a license for a
respected operator such as PokerStars. As reflected in legal opinions
provided to PokerStars, its activities in the US are and at all times
have been lawful.
Paul Telford, PokerStars' General Counsel stated that "PokerStars
maintains its strong support for H.R. 2267 and encourages the full House
and ultimately the Senate to move quickly to secure passage during the
current Congressional term. PokerStars, a pioneer in operating online
poker under stringent regulatory frameworks, looks forward to working
with incumbent and new operators in promoting a safe and healthy online
poker industry in the United States, as it currently does under similar
licensing models in Italy and France".
PokerStars, the worldwide leading online poker provider, is based in the
Isle of Man, where it is licensed and subject to a stringent regulatory
These regulations have been deemed by the United Kingdom as being
properly designed to prevent underage gambling, to protect vulnerable
people from gambling addiction, to protect the security of customer
deposits, to prevent money laundering, and to protect the integrity of
Recent additions to the PokerStars family are:
PokerStars.it, which operates in Italy under a license issued by the
Italian Government. PokerStars.it is the largest independent online
poker site in Italy.
PokerStars.fr, which operates in France under a license issued by the
French Government, and is the market leader in French poker market.
For further information: For further information:
Michael Abbass/Kathleen McMenamin
Paradigm Public Relations