A Grassy Knoll behind Harrah's Headquarters?

By: Poker Shrink – October 04, 2006

Follow me if you will Conspiracy Theory fans. Sometimes the obvious is right out there under our noses (and other times the world just does strange things without the silent hand of the Trilateral Commission being behind it). But this week for all of you internet believers in the dark arts, see if this scenario does not get your Jerry Fletcher gene going:

A. Deep in the Dark of Night the U.S. Congress passes the Internet Gambling Sleazy Fascist Bill (did I get the official title right?).

B. Harrah's receives $15.1 Billion Dollar buy-out offer.

C. Several Wall Street financial sites have suggested that the break-up value of Harrah's far excedes the offered billions of dollars and therefore the certain assets would be for sale after any takeover.

D. So would a certain asset severely limited by the lack of online qualifiers due to recent congressional legislation, perhaps be a likely asset to put on the block?

E. Over 60% of this year's WSOP Main Event 8,773 entrants were online qualifiers.

 

A. Frist has Harrah's as his 13th largest campaign contributor.

B. The version of the Goodlatte bill from the House made online gambling illegal, yet the version Frist put on the Port Security Bill makes the transfer of funds, not online gambling, illegal.

C. Most Non-U.S. online gambling sites become wary of the new law and close their doors to U.S. bettors.

D. U.S-based brick & mortar casinos note that there are some loopholes in the bill and they have a lobby flush with cash to influence the law.

E. Those same U.S.-based casinos have no online gambling presence at the current time.

F. The Non-U.S. online gambling sites have left a market void for U.S. gamblers who play online for the U.S.-based casinos to step in and control.

Pokerwolf – October 4, 2006 – 3:05pm

You see reasoned responsible logic, this is what we need more of in this country that a good $3 bottle of wine.

Poker Shrink – October 4, 2006 – 3:31pm

is that fact about Harrah's contributions to Frist? Do you have a source/link for that? Because if so ... very interesting.

You know, I used to think that Nevada was one of the few places to expressly prohibit online gaming, then I learned in recent months that in fact the state had changed its law.

Now look at the new law. A state in which online gambling is legal ... well it appears that it would be totally legit in that state to do all sorts of things with a state-limited bank. Or something like that. Still a little bit confusing, but it seems our resident nut job nut doctor is on to something.

Dan Michalski – October 4, 2006 – 3:35pm

Dan,

The link is in April's post here Read the Blog

I guess you didn't read it :)

CB

CudjoeBill – October 4, 2006 – 3:42pm

Thanks for the backup! I knew I'd seen that somewhere and I couldn't remember where.

Pokerwolf – October 4, 2006 – 3:49pm

so wow friggin' wow. it could be nothing, because a lot of big corps give money to both sides -- for whatever their needs. but i would love to hear some on-the-ground reporting from anyone out partying with Jeffrey Pollack in the past couple days. Either he is internally happy because his devious plans are coming together, or he is legitimately upset because his WSOP just got shrunk in terms of dollars he can bring in. possibly a combination of both?

Dan Michalski – October 4, 2006 – 4:03pm

Dan,

That will be twenty lashings.

April Kyle – October 4, 2006 – 5:37pm

They were 13th for his 1998 campaign. I don't know if the breakdowns for any of the closer elections have been released though.

Pokerwolf – October 4, 2006 – 3:46pm

While I fully believe that Indian-casino dollars were a major force behind the UIGEA --- as they were with the State of Washington legislation --- the Harrah's connection seems a bit iffy. Why go to all the trouble of actively devaluing one of your own market brands, that being the WSOP, when you can sit on the sidelines and watch it go to hell for free?

I'd me more inclined to believe that Harrah's is an equal-opportunity pocket-greaser, and that the high position on the Frist list is just an accident, the result of having more dollars than one knows what to do with.

Haley – October 7, 2006 – 1:14am

Perhaps because Harrah's wants in on online poker (and all forms of other online gambline) ... and wants to give itelf a better chance by knocking out the competition for a few years while it works on crafting some new laws to its own desire?

Dan Michalski – October 7, 2006 – 11:41pm

Could be, Dan, could be. I hadn't caught up with the Pennsylvania Harrah's news at the time of the first comment.

Wait, I know! It's all just a massive diversion so we'll forget about that extra $2 million in chips! And whatever happened to that promised followup report on the matter from Harrah's?

(cue scary "Jaws" music here....)

Haley – October 9, 2006 – 3:12am

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