I’m from the Government
And I am here to help. That's the point to rush out and buy the large jar of Vaseline. Our helper du jour is the Honorable Harry Reid – not my favorite boy scout. He's willing to help folks across the street but only wealthy contributors need apply.
Harry Reid is here to help all us degenerates. He putting together a poker bill. The WSJ provides its overview. Its really summed up in this paragraph.
According to the draft of the bill reviewed by The Wall Street Journal, Mr. Reid's office is considering language that would allow only existing casinos, horse tracks and slot-machine makers to operate online poker websites for the first two years after the bill passes, which could limit the ability of other companies to enter the market.
One definition of a good politician is “When he's bought, he stays bought.” and with this being a lame duck session we'll find out quickly if that is the case. When the new congress hits his majority shrinks. Right now he can jam it through with one extra Senator. If he waits, the Finance Committee will have the current ranking Republican wielding more power. That Senator is Spencer Baucus (R – Ala) who's no friend of poker players. So, if he's bought, and it is pretty obvious from his flip-flop that he is, then the bill gets lame ducked. If he wanted the obvious strings attached campaign contributions in his very tight race that he barely survived (compliments of Tea Party idiocy) but it was lip service then he doesn't get it passed immediately with the exceptional power he still wields
I imagine folks over at Full Tilt are scrambling to buy some back street casino. Not sure how Howard would look to the commission but they are good at dummy corporations. A place like the Four Queens shouldn't sell at much of a premium. Last year they weren't even making rent money. Party, which played it honest, and left is probably in worse shape than those that stayed behind. It will get interesting.
So, stay tuned to see if good ol' Harry is a good ol' politician.