Sunday, October 01, 2006

Most forms of internet gambling would be banned under a bill that received
final US congressional approval on Saturday. The House of Representatives
and Senate approved the measure and sent it to President George W Bush to
sign into law. The bill, a compromise between earlier versions passed by the
two chambers, would make it illegal for banks and credit card companies to
make payments to online gambling sites. Democrats had accused Republicans of
pushing the bill to placate its conservative base, particularly the
religious right, before the Nov. 7 congressional elections. "It's been over
10 years in the making. The enforcement provisions provided by this bill
will go a long way to stop these illegal online operations," said Sen. Jon
Kyl, an Arizona Republican and a chief sponsor of the measure. Negotiators
from the Republican-led House and Senate reached a deal on the legislation
Friday and attached it to unrelated legislation to bolster port security,
which the Congress approved. The final bill dropped earlier provisions
opposed by some gaming interests that would have clarified that a 1961
federal law banning interstate telephone betting also covers an array of
online gambling.

Investors in British-based gaming companies such as BETonSPORTS Plc,
Partygaming Plc and 888 Holdings Plc have tracked the legislation.

Senate Majority Leader Bill Frist, a Tennessee Republican and potential 2008
presidential candidate, recently appeared at a hearing in Iowa - the state
that holds the first presidential nominating contest for the 2008 election -
to listen to concerns about internet gambling.