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Huge Online Casino Funds Spent

The first quarter of the year has come to a close and all of the major online casino companies have begun to churn out their financial statements. In addition to these gambling groups, however, are other sectors and industries that similarly release reports based on the quarter year results. The Internet Gambling Federal Lobbying Report has just been released by data that was collected by the BolaVerde Media Group. The data indicates that an enormous amount of lobbying funds was just spent on the internet gambling industry during Q1. This summer landmark enforcement legislation is set to pass through into law and the internet gambling industry has come out in force to oppose the UIGEA enforcement regulations and to also lend a voice of support to Congressman Barney Frank’s alternative legislation that is on the cusp of reaching the floor of Congress for discussion.

This latest report indicates that the lobbying efforts in favor of a legalized US online casino gambling industry totaled more than US $5 million. The figures take into account that 36 different gambling related companies spent lobbying dollars in Q1 that was specifically aimed at helping the cause of legalizing offshore online casinos in the US market in some form or another. The exact figure, US $5.16 million is an absolutely enormous sum of money and US gambling giant Harrah’s Entertainment is responsible for a large chunk of that funding.

This new report really goes into a lot of depth about not only the amount of money that is currently being thrown at the online casino gambling industry, but also the precise issues and actions that the funds are facilitating. It’s a comprehensive report that seeks to also analyze the impact of these gambling funds on the issue at hand.