Gaming Guru
Frank spokesman denies rumor
22 February 2007
By Aaron Todd
Repealing the Unlawful Internet Gambling Enforcement Act is not on the House Committee on Financial Services' to-do list.
Committee Chairman Barney Frank (D-Mass.) railed against the UIGEA last year as an invasion of privacy before, during and after its passage last year, leading to rumors that he was moving to repeal the legislation. Reports that Frank suggested a two-year UIGEA amnesty helped lift PartyGaming's stock more than 10 percent yesterday, according to thisismoney.co.uk.
The rumors, however, are unfounded.
"As you know, he is opposed to restrictions on online gambling," said Frank's press secretary, Steve Adamske. "But there is nothing currently underway to repeal the restrictions on Internet gambling in the United States. There are a lot of reports coming out of Europe and I have no idea where they are coming from. There hasn't been anyone on our staff talking about that, including the Chairman."
PartyGaming stock fell by 3.6 percent in trading on Thursday.
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