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UIGEA Updates

Law, 2006-10-10, by TwoGun

By now, pretty much everyone in the poker community has heard about the passing of the Unlawful Internet Gambling Enforcement Act by the United States Congress. This past week's Weekly Shuffle provided a description and analysis of this piece of legislation.

President Bush is expected to sign the bill into law Friday. Several poker rooms, such as Party Poker, will continue to allow US play until Bush signs the law. Players can expect to see major changes at the various online poker rooms Saturday.

A few poker rooms have not stated whether or not they will continue to allow US play. Most notably, Poker Room and PokerStars are still studying the bill. PokerStars has already stated they will come forth with an official statement sometime this week (most likely before Bush signs the bill). The same will likely occur with PokerRoom.

The passage of the UIGEA has particularly been a particular hit for publicly traded online gambling companies that used to accept American players. PartyGaming, the company that owns Party Poker, is no longer listed in the FTSE 100 index since its share price dropped so dramatically. World Gaming, an online gambling software company, had to suspend trading of its shares due to the legislation.

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