As much as online casino operators have been irked about the passing of the Unlawful Internet Gambling Enforcement Act (UIGEA) - many of whom have backed out of the U.S. facing online gambling market - the passing of Congressman Barney Frank's Internet Gambling Regulation and Enforcement Act (IGREA) would still mean tougher times than the way things were before the UIGEA. A recent report in the San Francisco Chronicle confirmed this to be very true.

In an interview with MGM Mirage Senior Vice President, Alan Feldman, the casino executive told reporter said that if online gambling legislation were to be passed in the U.S., MGM would get an online casino up and running as quickly as it could. He also expressed that it would be very likely other large land-based casino operators would do the same. Heck, the way things are going right now, it would not be a long shot for some of these gaming giants to already have online casinos in development, just in case the IGREA is passed into law.

Feldman and MGM Mirage are certainly hoping this to be the case. Feldman gave his interview in the interests of supporting Congressman Frank's legislation, which now has several members of Congress signed on and giving their support. The bill is currently in the House Financial Services Committee undergoing a series of hearings. If passed, it would give U.S. States the power to decide for themselves on whether to regulate or ban.

Either way, regulating online casinos in the U.S. would be better for everyone involved. Just because giants like MGM, Wynn and Harrah's will certainly venture into the world of online gambling, does not mean the industry will be monopolized by them. There are many trustworthy and fair online casinos doing business these days, and will continue doing so no matter how much branding a land-based casino has. Land based casinos will be faced with an entirely different form of competition that what they are accustomed to.

MGM Mirage knows this all too well. Unbeknownst to many, MGM tried to enter the online gambling market several years back under licensing through the Isle of Man. The site folded shortly thereafter, although Feldman is quick to say the reason was because the casino was only competing for 30% of the total market. Only time will tell if the conditions will be right for land-based casinos to enter the online world. If that is to happen - meaning the IGREA is passed into law - the online gambling landscape will certainly change.