Sen. Reid not betting on gaming legislation this year

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SBR news anchor Natalie Rydström provides an SBR iGaming News update for Friday, November 16th, 2012. Today's topics include an update on Full Tilt, PokerStars, and French accounts; as well as an update on the controversial gaming legislation proposed by US Senators Harry Reid and Jon Kyl.

French players are hopping on the poker tables. In the first two weeks since Full Tilt Poker accounts in French were sorted, more than €3 million has been transferred to the tables. Over 6,000 French players are now back in the action. According to a report by Gaming Intelligence, French internet gaming regular ARJEL described the process of unlocking the accounts as running smoothly. ARJEL had previously suspended Full Tilt’s license since July the 4th.

Online and casino game company Bally Technologies Incorporated has appointed Ramesh Srinivasan to succeed Richard Haddrill as Chief Executive Officer. Srvinivasan will start his new role at the beginning of 2013. He previously served as Executive VP and was said to be instrumental in the company’s continued growth.

US Senators Harry Reid and Jon Kyl are not betting that their controversial gaming regulation legislation will pass this year. Reid does remain Senate majority leader following the Presidential election, and although there was not a sufficient shift in power, both senators concede focus on the economy will dominate the rest of the lame duck session. The legislation would legalise federal online poker, but other forms of gambling would continue to remain illegal, and in fact online lotteries would be made illegal; ruffling the feathers of Massachusetts lottery directory Steve Grossman, among others.

| limited experienced a 32 % quarter on quarter increase, bringing total revenues up to more than $457,00. EGR reported that the firm is feeling good as it reported a net position of more than $500,000 and positive working capital of $980,660 to close September.

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