28-04-2007 Who will benefit from the Internet Gambling Regulation and Enforcement Act

Shares in the online gambling sector took a dive after a major sell off following the introduction of Frank's online gambling bill.

Apparently the first analysis of industry insiders suggesting that online gambling firms would have benefited the most, has not been shared by investors who hoped for a repeal of anti-online gambling legislation.

The Internet Gambling Regulation and Enforcement Act of 2007 is by no means a green light for internet betting sites to re-enter the US market. More likely, if the bill ever gets voted and signed into law, it would benefit Indian tribes that already operate bricks-and-mortar casinos in more than 20 states as well as Las Vegas casino companies.

The Financial Services Committee plans a hearing on the bill sometime in June.