Poker Players Alliance

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The country is facing a financial meltdown which relates in part to over-leveraging and what for some has become bet making on financial instruments and schemes involving sophisticated economic modeling.

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A Toronto police detective estimates that one of two gaming houses raided earlier this week earned at least $1.5 million per year for the operator.

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It’s approaching two years since the Unlawful Internet Gambling Enforcement Act (UIGEA) was signed into law by President George Bush, and it’s still not clear how much the law will cost the banking industry, nor if it will do its intended job and end online wagering in the United States.

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It seems like it has been a while since any good news has come out of either Wall Street or Washington when it comes to finances.

Everybody is out of money, and lawmakers are scratching their heads wondering how to get more and solve the problems that we have.

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These are strange days for the poker industry. While the dilettantes have gone on to the next fad — mixed martial arts, perhaps — the diehards and the newfound converts are settling in for the long haul.

We’re past the “fad” stage with poker now. Unlike, say, grunge music or brick-wall comedy clubs, poker isn’t going anywhere. Tens of thousands of players still make their way to Vegas every summer for the World Series of Poker. The highest-profile poker TV shows continue to draw solid ratings even as they approach a decade on the air. Online poker traffic shows no signs of slowing.

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As the economy continues its slide, casinos are increasingly going after unpaid gambling debts. And the man now sitting in the Las Vegas office of Lewis and Roca was instrumental in giving casino operators that option. Anthony Cabot authored the legislation in the 1980s allowing for collection. It is part of a long list of achievements for one of the state’s best-known gaming lawyers.

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FRANKFORT, Ky. - Lawyers from around the country packed a Franklin County courtroom Tuesday asking a local circuit judge to dismiss Kentucky’s attempt at blocking residents’ access to numerous online gambling Web sites.

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