Gambling magnate Donald Trump spoke out on Barney Frank's online casino bill, saying Internet gambling cannot be stopped and will be regulated for the general public good.

Donald Trump spoke out this week in regards to the debate over the Barney Frank bill which might regulate online casinos, H.R. 2267. Trump, who again has control over his three eponymous casinos in Atlantic City, said the bill is a great idea, helping to make Internet gaming benefit the general public good.

Several land-based casino operators, led by Steve Wynn of Wynn Resorts, are still adamantly against allowing US residents to gamble online. Many have feared that Internet casinos will drain their already depleted customer base.

But Trump says that properly managed casinos don't have anything" to fear" from online casinos. He said competition makes the industry stronger, and cannot be blocked anyway.

"Online gaming goes to happen, so we'd besides have it work to the public's advantage," said Trump to the brand new York Post. "Why lose all those billions of revenue?"

While gaming foes accuse supporters of being funded by overseas gambling companies, existing US gaming reminiscent of tribal casinos and land casinos have lobbied heavily for continued protectionism. The general public face of the anti-gambling movement is an ethical one, however the underlying reality is that those already making fortunes at casino gambling are merely looking to preserve their near-monopolies.

Published on August 8, 2010 by EdBradley

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