Gambling News

EU Investigates US Online Gambling Ban

2008-04-16T11:44:51+01:00

2008-04-16

Starting with the 2006 UIGEA the US Department of Justice was called by all online gamblers and online gambling companies (especially those who had to interact with their law) the online gambling 'witch hunt'. Now the things can turn in a different direction with news that the European Union (EU) has begun an investigation intended to discover if America's online gambling course of action are unfair to foreign online gambling operators.

Since the US online gambling ban, which had a negative collision on the worldwide online gambling industry, many European online gambling companies have protested to the European Commission (EC) that the US Department of Justice has illegally beleaguered foreign online gambling operators, at the same time as permitting its US companies to continue to operate.

In December 2007, the Remote Gambling Association (RGA) complained to the EC claiming that the US was targeting offshore online gambling operators, while numerous US online gambling companies, mainly those implicated in online horse betting, where left alone.

Clive Hawkswood the chief of RGA declared that “we can no longer sit back and watch how the US is prosecuting our members, while US companies continue to operate untouched, happily reaping the rewards.

In the 5 -8 months that are to come the EU will examine the complaints and will decide how to approach the matter declaring their aim is to reach a mutually acceptable and beneficial solution with the US Department of Justice. Otherwise, the EU will consider a complaint to the WTO against the US.

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Judge Granted iMEGA Standing

2008-04-15T16:31:35+01:00

2008-04-15

The gaming industry recently received two plain messages from the U.S. District Court Judge Mary Cooper.

First, the UIGEA won’t be overturned based on reasons such as the law is either ineffective or unwise. Second, the iMEGA case has very little chance of overturning the Unlawful Internet Gambling Enforcement Act

However, the judge said something that gave iMega a small reason to hope and that is when she granted it "standing" on certain issues.

"Granting iMEGA standing is a great triumph any way you look at it," declared iMEGA attorney Eric Bernstein after the ruling came out. Having this, it means that the court lets doors open for iMEGA to claim damage by the UIGEA and has the right to appeal Cooper's ruling on the First Amendment issues raised in the case. But no one should expect to see the problem solved soon as this it will be an uphill battle.

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World’s Richest Men

2008-04-04T15:56:57+01:00

2008-04-04

According to a global survey on the richest people on the world it seems that the Las Vegas billionaires did not have too great a year in 2007. Southern Nevada's billionaires were defeated on Forbes’ list.

The world's richest man on the Forbes list is Warren Buffett. Las Vegas No.6 on Forbes’ last year list fell on No.12 this year and this is Sheldon Adelson. He is the chairman and chief executive officer and his net worth got down from $26.5 billion to $26 billion in the year before Feb. 11, the magazine's research related. However, if I would be Sheldon Adelson I won’t be so upset.

Another billionaire losing ground in Forbes ranking and evidently in net worth is the eBay designer and Henderson resident Pierre Omidyar. He slid from No.76 to No.120, from a net worth of $8.8 billion to $7.7 billion.

Wynn Resorts Ltd. partner Kazuo Okada and Viacom owner Sumner Redstone, a frequent Las Vegas gambler. He also is running the slot machine maker Aruze Corp. From No.432 he went to No.573 from a $2.2 billion net worth to $2.1 billion.

The billionaires' roster welcomed two local first-timers. They are members of the Fertitta family, who founded and own locals gaming company Station Casinos. Frank and Lorenzo Fertitta, the two brothers have a net worth of $1.3 billion each and entered on the No.897. Frank and Lorenzo Fertitta also own a mixed martial arts league, the Ultimate Fighting Championship.

Thomas Barrack, the Colony Capital founder who lent a hand for the brother to take ‘Station Casinos’ private in 2007 for $9 billion, is worth $2.3 billion, this sum placing him on No. 524 on the Forbes list.

Forbes' 2008 list of billionaires identifies 1,125 people worldwide worth 10 figures, including 469 billionaires from the United States. Buffett, whose worth increased $10 billion to $62 billion, beat Microsoft founder Bill Gates. Gates, whose wealth grew $2 billion to $58 billion, had occupied the top spot for 13 years.

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Union Reaction to Russian Laws on Gambling

2008-04-02T13:52:02+01:00

2008-04-02

Russian Industrialists and Entrepreneurs Union declared that "A Russian law banning gambling in Moscow and St. Petersburg starting in July 2009 will discourage investment in the gambling industry and should be relaxed.”

"Tactics towards banning gambling in 4 regions in Russia are pushing local gambling operators to spread out without delay outside the country, the Moscow-based union said in a March 5 statement on its web site.

"The regions where gambling will be allowed (Russia's Pacific coast, the Baltic exclave of Kaliningrad, Siberia's Altai region and around the Azov Sea) aren't a focus for international chains, the organization added..."

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Canadians Consider New Action to Prohibit Kahnawake Sites

2008-03-27T13:55:43+01:00

2008-03-27

The Canadian federal government declared it is taking into consideration new action to eradicate internet gaming sites based on a native reserve in Quebec, in a move that could start disagreement between Ottawa and Canada's First Nations ahead of a second national 'day of action' this summer.

The government considers the approximate 400 poker sites and sports-betting sites based on the Kahnawake reserve near Montreal to be illegitimate, but neither federal nor provincial governments have tried to put into effect the law. Now Ottawa is again evaluating that position.

The "new actions” are considered implicit moves to limit banks and credit card companies from performing financial transactions with illegal Internet operators.

However, in response to this declaration, the Mohawks of Kahnawake say these laws do not apply to them since they are a self-governing nation.

A lawyer from Toronto, Mr.Michael Lipton commented the situation saying that for years the horse racing industry has had a monopoly on gambling, with Woodbine Entertainment now holding a lock on Canadian government-sanctioned online horse betting. He continued his comment by saying that the Canadian government should develop a system for the Kahnawake sites and regulate them instead of trying to prohibit them.

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