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In the past few weeks, various news outlets, ranging from ABC to The Guardian, have been reporting on Congressman
Barney Frank’s proposed online gambling bill. The bill, which could legalise online casinos in the United States, or at least offer a clear definition of what is “internet gambling”, was approved by the House of Representatives financial services committee last week.
Since then, a variety of news sources have been reporting on what a legal US casino market could mean for operators such as PartyGaming, which lost 58% of its share price when online gambling was deemed illegal the US back in September, 2006.
However, news websites such as ABC have drawn attention to the fact that if Frank’s bill were to be passed by the House and Senate, he has just two weeks to get the legislation before American lawmakers. Frank’s bill has to be passed by the House of Representatives before the November mid-term elections and as Congress is about to take a seven week break, he has just two weeks to get the bill passed by lawmakers, before the deadline.