The point is that they (and others) think the bill will not be effective at stopping US players from gambling online. And I, for one, think they are right. Obviously it is effectively crushing the stock values of these publically traded companies, and completely f*&#ing with the industry at large, I’m not an idiot. I realize that.
I’m just saying, the affiliates and companies who stick it out are going to be majillionaires. Of course, the CEOs of those companies won’t be able to set foot in the US for awhile, but there is no way this bill is going to be law 5 years from now. IMO.
And frankly, I don’t think a thing has changed (legally) for US affiliates. If you thought you were completely in the clear before, you were delusional. If you think you are going to jail tomorrow, I also think you’re wrong.
I think the companies that panicked (and continue to panic) are making poor business decisions. We (the US) are trying to bluff the rest of the world with a 2-7 offsuit. And nobody is calling us.
Sucks.
The effect of this bill on the stock values of companies in our industry is devastating. There has been literally hundreds of millions of dollars in market cap lost, I bet if you ask the share holders of those companies they would say the bill has been life changingly effective also…
At what point does Business Week think the bill will be effective, when the suicides start?