Poker News

Online poker in the United States received a huge boost today when two of the biggest supporters of regulated gambling were re-elected to Congress.

Both Senate Majority Leader Harry Reid and Rep. Barney Frank survived major scares to win re-election.

Reid, the 71-year-old former boxer from Nevada, had been behind in the polls against Tea Party champion Sharron Angle. But his surprise six point victory helped keep the Senate in Democratic control.

The former chairman of the Nevada Gaming Commission was supported by The American Gaming Association (AGA), which represents a number of major casino companies, including Harrah’s Entertainment, Las Vegas Sands, and MGM Mirage.

And, after his victory, Reid chose a casino on the Las Vegas Strip to address his cheering supporters.

He said: "I've run in some tough elections no one thought I could win.

"We are proof that a test is tough only if you're not tough."

He also echoed President Barack Obama's claim during the campaign, adding: "Nevada chose to move forward, not backwards."

Reid, who like the AGA supports regulated online poker, pledged to bring the good times back to Las Vegas and keep the money flowing through the city's casinos.

Meanwhile Massachusetts Rep. Frank, the biggest supporter of online poker in Congress, won by a comfortable 11 points over Tea Party-backed challenger, Sean Bielat.

A defeat for Frank would have meant the end of the Internet Gambling Regulation, Consumer Protection and Enforcement Act, which he introduced - and passed - through the House Financial Services Committee earlier this year.

His legislation would repeal the unpopular Unlawful Internet Gambling Enforcement Act (UIGEA) and bring many offshore poker companies back onto US soil and raise billions in tax revenue.

With Frank and Reid's re-election, there is still a chance the new Act could be added to a 'safe' bill and passed into law next year.

Earlier this week shares in European-based gaming operators with an interest in the US poker market fell sharply on fears that Reid and Frank would lose their seats.

PartyGaming, the world's biggest listed gambling company, settled with the United States Department of Justice for $105m last year. It would be a key player in any re-opened US market but its shares fell more than 10% on fears that a Democratic wipeout at the polls would lead the legislation to fail.