09-02-2006 Terry Lanni said it's a farce the US Government won't go for online gambling regulation

"Online gaming is a multibillion dollar industry, and it's ridiculous we can't be part of that," said the MGM Mirage Chairman speaking at the Thoroughbred Racing Association and Harness Tracks of America joint annual meeting.

"Party Gaming admits that Americans wager on its site and that a significant portion of its revenue comes from those who shouldn't be using the site," Lanni said. "You have people volunteering to pay a tax, and the government won't go for it; it's a farce."

Lanni called to legalize more forms of internet gaming besides pari-mutuel racing. He also cited a poll that indicated more than 60% of people have at least some concern regarding whether they will receive payment from offshore wagering sites on winning wagers.

"We should be able to utilize our brands -racetracks and casinos- to give people confidence to wager online."

"That's the best business to be in," he added.

"You have people willing to pay even though they think they have to win twice: once with the bet and once regarding concern if you'll pay them."

During the same congress, a panel of journalists said the internet is the best way for racing to find its way into the homes of more Americans.

Bill Nack, a former Sports Illustrated journalist and now a producer of web-only content, said the internet is going to be "the hero of racing."

Eugene Christiansen of Christiansen Capital Advisors added that the the Internet is the way to rejuvenate interest in the sport.