High profile casino proprietor and property mogul Donald Trump has lent his support to Barney Frank's online gambling regulation bill.
Talking to the New York Post Trump said,
'...why lose all those billions of revenue? Online gaming is going to happen, so we might as well have it work to the public's advantage.'
The Don would know a thing or two about the tax revenue potential of casinos - his casino operation in Atlantic city became that states biggest tax revenue source.
He is one of a growing number of US terrestrial casino industry heavyweights to come out in support of a regulated online gambling industry. The American Gaming Association, longtime critics of legalized Internet gambling are now coming around with some members, including Harrah's publicly stating their support.
While some local casino operators believe they will lose customers to online if the regulations become law, Trump is of the opinion that good operators have nothing to fear.
HR2267 was passed by the House Financial Services Committee 2 weeks ago and must now make its way through the House of Representatives and Senate before it can become law.
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