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Lawmakers announce hearings on GameStop and online trading platforms

Two U.S. lawmakers have announced that they will be holding hearings into the video game industry. State Senator Robert Menendez of New Jersey and Representative Ted Deutch of California will be looking into the controversial world of GameStop and online trading platforms. They believe that gaming companies have been slow to address issues that have come up regarding gaming fraud and would like to see stricter regulations. There have also been concerns over the death of an employee who worked at a prominent gaming site in California.

Free-to-play online games

There are currently many debates taking place within the online gaming industry. This comes as the result of the rising popularity of free-to-play online games. This type of game is very popular with all age groups including teens. However, critics would say that these games are inherently dangerous because they encourage gambling, pornography, and violence. Many parents are constantly worried about the content that their children are able to access through online gaming platforms.

GameStop and online trading platforms store is one of the biggest in the industry. It boasts more than two hundred retail locations in twenty-eight states. The company would like to expand its stores in order to meet consumer demand. On the other hand, some politicians believe that it would be too difficult for the company to gain additional customers if it has to open up new stores in every state.

The GameStop CEO Ben Wadsworth recently stated that the company has no plans of expanding its presence in Pennsylvania. He cited a lack of consumer interest as the reason for this decision. However, critics of the industry have pointed out that this lack of expansion may be due to the fact that Pennsylvania is a poor economy. Competent companies would not want to open up operations in the state due to the poor state of the economy.

Critics Suggestion

Other members of the GameStop and online trading platforms family are also dissatisfied with the company’s performance. Company spokesperson Janicello implied that she sees gaming as a micro-business rather than an industry. Critics have suggested that this comment is discriminatory, considering that women comprise half the population, making it impossible for a gaming industry to operate according to gender-specific guidelines.

Apple Computers

Many companies have expanded into other industries due to the current economic climate. Compaq, for instance, was able to acquire a substantial stake in Microsoft. Hilton Worldwide invested in a stake in the airline carrier American Airlines. Apple Computers acquired strategic investor Clear Channel earlier this year for a reported six billion dollars. If these companies were to expand their activities in Pennsylvania, it would be great for the economy.

Lawmakers announce hearings on GameStop and online trading platforms

In May, the House Commerce Committee held a hearing on the effect of gambling on the online gaming industry. Several witnesses expressed concern that the bill could negatively impact the gaming sector in the state. Representative Markey stated that he is concerned about the House Select Committee on Gaming and Internet Revenue Chairman Congressman Don Young’s proposed bill. He believes that the House needs to “determine what the impact is going to be before actually passing something that will hurt Pennsylvania’s economy.”

Online Poker Industry

According to The Onion, there is a “growing belief” that the move would negatively affect the online poker industry in the state. Poker players from the country would be “shocked” at the lack of corporate support for the gaming site. The same article suggested that poker players might seek out other game rooms in the country if the legislation passes. The bill would affect all licensed online poker players in the state. A representative from the World Series of Poker said that he would lobby against the measure, which could prevent players like him from earning a living from a job that requires little education.

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