Gambling promoters are putting at least $13 million on the line to see if Ohio voters will welcome slot machines on Nov. 7, the third proposal since 1990 to expand gambling. Voters that year and in 1996 refused almost 2-to-1 to allow casino gambling in some Ohio cities. Backers are optimistic they will fare better […]
Monthly Archives: October 2006
AUSTRALIAN online gaming company Betcorp has suspended its United Statesoperations after the enactment there of restrictions that effectively bansome forms of internet betting. Melbourne-based Betcorp said it hadsuspended its US operations after the Unlawful Internet Gambling EnforcementAct of 2006 was signed into law by US President George Bush. The act makesit illegal for US banks […]
Federal Reserve Chairman Ben Bernanke said Monday that bank regulatorsshould search for ways to reduce regulatory burdens imposed on the financialsystem in the government’s efforts to battle terrorist financing and moneylaundering. There are some who believe Bernanke’s comments apply to arecently signed bill that would hold banking institutions responsible formonitoring and prohibiting online gambling transactions. […]
As reported by Trinidad and Tobago’s Newsday: “Prime Minister PatrickManning yesterday told protesting private members clubs and casino workersthat Government stands firm on its opposition against casinos andcasino-type establishments and the local gaming industry will berestructured so it complies with the law. “Prior to speaking with Manning,the club owners said Government should take any information […]
We have no intention of stopping any of our US customers. The bill passeddoes not make it illegal for you to bet or for us to accept bets, so it willbe business as usual. The vast majority of all deposits processed by ourcompany are processed through non US payment processors. It is currentlyunclear how these […]
Brisbane-based online gambling company Global Approach’s share price hasslid a further 7% today despite assuring investors it is renewing its focuson European and Asian markets. The share price has slipped 60% sinceSeptember 11 to 4 cents, and a $2.1 million net profit projection for 2007is “unlikely to be achieved”.The company has now announced a major […]
Even though President Bush has signed a law to curb Internet gambling,investors in the handful of U.S.-listed Internet gambling companies may notwant to fold their hands just yet. “There is growth in this industry evenwithout the United States,” said Blackmont Capital technology analyst WojtekNowak. “The drive into broadband Internet in Asia and Europe still makesthis […]
The Unlawful Internet Gambling Enforcement Act of 2006 amends Chapter 53 oftitle 31, United States Code, by adding at the end the following:“SUBCHAPTER IV PROHIBITION ON FUNDING OF UNLAWFUL INTERNET GAMBLING”.Chapter 53 deals with Monetary transactions and is designed to; “increasethe strength of United States measures to prevent, detect, and prosecuteinternational money laundering and the […]
Superstitious or not, Friday the 13th was bad luck for the New York Mets.Their late collapse in Game 2 gave the St. Louis Cardinals a 9-6 win andguaranteed that the NLCS would go at least five games, a scenario New Yorkwas hoping to avoid. Manager Willie Randolph now has no choice but to handthe ball […]
Macau’s gaming industry chalked up yet more record takings in the secondquarter of the year, racking up 12.9 bln patacas, government figures showed.Census Department statistics showed that gambling receipts outstripped allother forms of income, as they rose 11 pct year on year in the three months.By comparison total exports amounted to 5.6 bln patacas. With […]
A “one-stop shop” treating problem gamblers in Sydney is reporting a 50 percent success rate. Run by The Salvation Army in cooperation with theFairfield RSL club in Sydney’s south-west, The Sydney Problem GamblingCentre opened in October last year. In its first annual report, publishedtoday, the centre said it had answered 400 telephone inquiries and conducted561 […]
Antigua-based World Gaming, the online gambling group, has gone intoadministration, just before a law that would bar it operating in the US wasdue to be passed. The company had its shares suspended on the AlternativeInvestment Market and four of its top directors, including chief financialofficer David Naismith, and chief executive Daniel Moran, have resigned. USbusiness […]
Online gambling companies PartyGaming and 888 have both been demoted onprestigious FTSE stock indexes in the UK, following the unexpected passingthrough the Senate of a US bill which aims to make it illegal for US bankinginstitutions to process transactions to online gambling companies. PresidentBush signed the bill into law on Friday, and publicly-listed companiesPartyGaming and […]
Fraud study links gambling and fraud “Gambling is increasingly a majormotivator for serious fraud,” says John Stansfield, CEO of the ProblemGambling Foundation of New Zealand (PGF). “Since the last KPMG Fraud Surveyin 2004, there has been a 60% increase in the amount of New Zealand fraudthat was motivated by gambling. The 2004 study found that […]