On Monday morning, James Packer will wake up in Macau to his moment of truth.
In the 3 1/2 years since the death of his legendary father, Kerry, Packer has transformed the family empire from one focused predominantly on media into the international casinos conglomerate Crown.
Monday's opening of Macau's City of Dreams casino -- one of the Chinese territory's most opulent and expensive -- is a crucial psychological marker on whether that transformation has been successful.
One of Packer's close confidants told The Weekend Australian this week the 42-year-old "always had a real belief in Macau and he's backed his belief". "City of Dreams is the culmination of that," the friend says. "It will be the jewel in the crown, in terms of size, of all of his casinos."
But with size comes risk. Packer has bet hundreds of millions of dollars of his money -- but more importantly his reputation as a major player on the international gaming scene alongside casino legends Stanley Ho, Steve Wynn and Sheldon Adelson -- on Macau.
Packer and Stanley Ho's son, Lawrence Ho -- his partner in the Melco Crown Entertainment joint venture behind the casino -- unveiled their plans for City of Dreams in the midst of an unseemly rush to develop a new Asian Las Vegas.
But today, such developments face pretty strong headwinds. In particular, gaming revenues in Macau are under pressure as the financial crisis and restrictions on Chinese citizens travelling to the former Portuguese colony bite. Even major players, such as the Las Vegas Sands, have reportedly delayed projects. Packer's fortunes have certainly fallen in line with the global crisis, with BRW magazine this week estimating his worth at $3 billion, down from $6.1 billion this time last year and the $7.3 billion he reportedly inherited from his father.
Still, Crown shares, of which the Packer family owns 36 per cent, have rallied strongly ahead of the City of Dreams opening. The run was spurred in part by Crown's escape from a proposed $US1.75 billion ($2.2 billion) takeover of Cannery Casino Resorts in the US. But one source close to Packer describes him as "quietly confident" about the future of City of Dreams. "I think we benefited from the fact there are a hell of a lot of cranes up there on unfinished projects," he says. "It is the only big new casino opening, and it will be the only one for some time."
The importance of Monday night's spectacular opening ceremony and first few months of trading are not lost on Melco Crown finance chief Simon Dewhurst. "City of Dreams is our flagship development," he says.
"It has consumed over 60 per cent of our investment capital and it represents our first opportunity in Macau to compete for the integrated resort middle ground that represents the future for the market. The opening of CoD marks the culmination of more than six years hard work. We are taking a transformational step from being primarily a development company, to being primarily an operating company."
Crown chief Rowen Craigie agrees the opening of City of Dreams represents "a major milestone". He says: "City of Dreams will be an exciting and attractive property and will benefit from being the only major casino entertainment complex to open in Macau in 2009."
City of Dreams, on Macau's popular Cotai strip, will be Melco Crown's second in the territory, following the opening of the $US760 million Crown Macau (now the Altira Macau) in 2007.
Analysts say City of Dreams is the first casino in Macau to break the $US2billion investment threshold. Its opening will be the culmination of a process that started before Kerry Packer's death when James settled on Macau as the first focal point of his global gaming ambitions.
In November 2004, Packer struck a joint venture agreement with the Hong Kong-listed leisure and entertainment group, Melco Development, run by Lawrence Ho. While there was little concrete announced at the time, it was soon made clear the joint venture company had big plans.
Once his father died in December 2005, Packer moved quickly to transform what was then the media-driven Publishing and Broadcasting Limited into a gaming empire. This transformation was highlighted late in 2006 with the top-of-the-market sale of PBL Media -- owner of the Nine Network and ACP Magazines -- to private equity firm CVC Asia Pacific for more than $5billion, just before the value of the assets started to decline amid both structural and cyclical change.
The PBL empire was left as largely a casino-focused one, and a subsequent split of the group in 2007 saw the casino assets hived off into the new casinos group, Crown.
But the move that signalled Packer's serious intent for gaming in Macau was his joint move with Melco just three months after his father's death to buy Macau's last available casino sub-concession from Wynn, the US casino entrepreneur, for $US900 million. The move cemented Packer and Ho as major players at the table of Macau's casino industry.
Altira Macau and City of Dreams are now held through Melco Crown Entertainment, which is listed on the Nasdaq index in the US and counts Crown as a 36.4 per cent shareholder.
Since 2006, Crown has also made a series of casino purchases independent of the Melco Crown venture in North America. These include stakes in the US-based Fontainebleau Resorts, Canada's Gateway Resorts group, Stations Casino Group and Harrah's Entertainment, underlining Packer's intense focus on gaming assets.
With the fall-off in casino values worldwide since the purchases, critics -- acting with the benefit of 20/20 hindsight -- have questioned the wisdom of his moves in both Macau and North America shortly before the global economic downturn. Even Crown's Rowen Craigie reportedly admitted earlier this year that the group had bought some of its US assets at the top of the market.
Crown's woes in the US were on full display in the company's interim profit result, with the group posting a reported net loss of $409.7 million due to a non-recurring $454.9 million writedown to the value of its minority US casino investments -- namely Fontainebleau, Stations and Harrah's.
But Packer's supporters assert that while there has been a fall in value of the US ventures in particular, he is well up on his Macau investments. After its $US45 million investment in Melco Crown's $US180 million capital raising this month, Crown has now invested a total of $US500 million in the group. That stake is now worth more than $US1 billion. Friends point out that Packer has effectively doubled his money and, in the process, gained a major say in a business that has two casinos fully funded, one of only six casino licences in Macau, and assorted hotels, retail complexes and entertainment venues supporting the casinos.
Melco Crown is not without problems. It booked a March quarter net loss of $US35.3 million, compared to a profit of $US43.2 million for the same period last year, prompting Ho to admit the casino market was not out of the woods yet. One analyst noted that Crown Macau had a "very poor opening" in 2007, with Packer's reputation suffering as a result. City of Dreams, he says, represents "a very critical moment".
Then again, Deutsche Bank last week raised its price target on Melco Crown from $US4.40 to $US6 a share, saying it was "now more confident on the success of City of Dreams after we walked through the property early this month".
City of Dreams certainly sounds impressive. Ho promises the water- and fantasy-themed complex will be a "next-generation resort like no other in Asia, or perhaps the world".
Located directly opposite the biggest casino in Macau -- the Las Vegas Sands Venetian Macau -- it will boast several distinctly branded casino floors, three world-class hotels and a shopping precinct to be known as The Boulevard.
On Monday, Melco Crown opens the first phase of that project, which will include the Crown Towers and Hard Rock hotels, 20 bars and restaurants, The Boulevard, plus a casino with 520 gaming tables (a third of which will be VIP) and 1350 gaming machines. It will be the only major casino to open in Macau this calendar year.
The casino's Bubble Theatre will feature a 10-minute "Dragon's Treasure" multi-media lights show. Theatre of Dreams, a 2000-seat theatre, will feature a Cirque Du Soleil-style water production when it opens in the December half. By December, the third hotel, the Grand Hyatt, will open, giving the complex a total of 1400 rooms. And there is even the future prospect of a further apartment development in the complex, subject to Macau regulatory approval. Melco's Dewhurst says Melco Crown is "very confident". He says: "We have spent a very significant amount of time, energy and resource into understanding what's working and what's not working throughout the market. We think City of Dreams is right."
Success for Melco Crown and City of Dreams will come down to a number of things. But one key measure will be foot traffic. "We expect that we will have something in the order of 35,000 guests a day passing through the property," Dewhurst says. "I have no doubt that we will have in excess of that number on the first day. In the first 100 days what's important for us is that on any of those 100 days we see that volume of traffic into the building."
In the current climate, that could be a challenge. Its performance will hinge on the recovery of the Asian economy -- and in particular how quickly Asian high-rollers return to the territory's casinos after the tough recent times.
Credit Suisse analyst Gabriel Chan said in a note last week that "with concerns about swine flu remaining vital, and signs that the recovery pace of the Chinese economy may have slowed, we see certain execution risks for the opening".
Indeed, visitor numbers to Macau, as recorded by the Statistics and Census Service, were down 3.5 per cent in April from the same period last year and steady over the previous month. Visitors from mainland China were down 13.5 per cent year on year.
Gaming revenues have suffered as a result of weaker visitor arrivals, but the pace of the decline has stabilised in the past few months. And there are hopes, from Ho down, for a swift rebound, partly driven by the buzz from the City of Dreams opening.
Some analysts believe that as Macau's most expensive casino, City of Dreams may be able to take market share from other players.
Janet Brashear, senior gaming analyst with US investment house Sanford C. Bernstein, says she expects City of Dreams to "make a splash, garnering $US1.4 billion in gross gaming revenues in 2010 and a 10 per cent share of the market". She also predicts City of Dreams could cannibalise the market share of some of its competitors in Macau, such as the Venetian Macau and Wynn resort.
For analysts, success will come down to one thing -- City of Dreams achieving an earnings before interest, tax, depreciation and amortisation of about $US300 million in the first year.
"You look across the road at the Venetian and they're doing about $US120 million EBITDA a quarter -- $US500 million a year," says one analyst. "So you would have thought $US300 million would be achievable for City of Dreams."
If City of Dreams achieves better than that -- say $US500 million a year -- then it will be a strong position against its rivals. There is growing speculation that casino giant MGM may have to sell its Macau interests after US regulators raised concerns about its local joint venture partner, Pansy Ho -- the daughter of Stanley and brother of Lawrence. Las Vegas Sands is also looking to sell some plots.
One close Packer confidant is hedging his bets ahead of Monday's event. He says: "On the assumption that the Macau economy will start to improve, Melco and City of Dreams are going to be in a very good place." (The Australian)
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Sunday, May 31, 2009
James Packer's biggest casino venture opens in Macau today - The Daily Telegraph - 1st June 2009
It is arguably James Packer's biggest and boldest venture, a key pillar in the man's grand plan of global gaming dominance. And it opens today.
It is the much-hyped City of Dreams, a colossal casino resort on Macau's glitzy Cotai Strip and the second instalment from Melco Crown (MPEL), the company jointly owned by Packer's Crown Limited, and Melco.
There is no disputing the fanfare with which the grandiose complex will open, but what is a hot topic is whether the venture will be a success.
The timing, amid a global meltdown and hampered by a forced slowdown of tourists entering Macau, is not helpful.
But it does have one key advantage. It is the only casino opening in Macau this year, after much-larger projects were postponed.
One gaming analyst told The Daily Telegraph the City of Dreams "was a sink or swim moment" for MPEL.
But UBS analysts believes product offering, and most surprisingly timing, will make City of Dreams a success.
"Against the context of limited supply growth, improving market revenue trends, and City of Dream's scale and product, MPEL is arguably in the right place at the right time," the analysts said in a report.
Melco Crown suffered an inglorious start to life in Macau with Crown Macau failing to attract the punters due to its location and public perceptions that the complex had Feng Shui design issues.
Recently reborn as Altira Macau, the complex has since flourished thanks to the significant revenue generated by VIP gamblers ferried in from Hong Kong.
MPEL does hold a licence to build a third casino complex in Macau, but has not committed to plans as yet. (Credit: The Daily Telegraph)
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It is the much-hyped City of Dreams, a colossal casino resort on Macau's glitzy Cotai Strip and the second instalment from Melco Crown (MPEL), the company jointly owned by Packer's Crown Limited, and Melco.
There is no disputing the fanfare with which the grandiose complex will open, but what is a hot topic is whether the venture will be a success.
The timing, amid a global meltdown and hampered by a forced slowdown of tourists entering Macau, is not helpful.
But it does have one key advantage. It is the only casino opening in Macau this year, after much-larger projects were postponed.
One gaming analyst told The Daily Telegraph the City of Dreams "was a sink or swim moment" for MPEL.
But UBS analysts believes product offering, and most surprisingly timing, will make City of Dreams a success.
"Against the context of limited supply growth, improving market revenue trends, and City of Dream's scale and product, MPEL is arguably in the right place at the right time," the analysts said in a report.
Melco Crown suffered an inglorious start to life in Macau with Crown Macau failing to attract the punters due to its location and public perceptions that the complex had Feng Shui design issues.
Recently reborn as Altira Macau, the complex has since flourished thanks to the significant revenue generated by VIP gamblers ferried in from Hong Kong.
MPEL does hold a licence to build a third casino complex in Macau, but has not committed to plans as yet. (Credit: The Daily Telegraph)
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Monday, May 25, 2009
G2E Asia to look at Asian gaming industry's future - Macau Daily Times - 25th May 2009
The Global Gaming Expo Asia (G2E Asia) 2009 will in this year present its industrial trade show and forums from June 2 to June 4 at the Venetian Macao Resort Hotel.
Hosted by the American Gaming Association, it is an annual international gaming event dedicated to the Asian gaming markets.
The three-day conferences will provide the latest trend in the Asian gaming industry and showcase of new products brought by leading manufacturers.
The conference will bring together a panel of eminent business and industry leaders from a variety of sectors related to the gaming industry, to exchange views and insights on the emerging gaming market in Asia Pacific.
Speakers will also share and discuss the impact of the global economic downturn on the gaming industry and the gaming equipment sector from the manufacturers’ perspective.
In addition, they will talk about the current and future outlook in regards to the Asian gaming industry.
The opening ceremony of G2E Asia 2009 will be held in conjunction with the Visionary Award Presentation with a keynote address by Stanley Ho Hung-sun at 10am on June 3 in the Naples Room.
It will be followed by a VIP tour with officiating guests at Exhibition Hall A and B.
The conferences and forums will be open from the morning till the afternoon, with different schedules each day.
(Credit: Macau Daily Times)
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Hosted by the American Gaming Association, it is an annual international gaming event dedicated to the Asian gaming markets.
The three-day conferences will provide the latest trend in the Asian gaming industry and showcase of new products brought by leading manufacturers.
The conference will bring together a panel of eminent business and industry leaders from a variety of sectors related to the gaming industry, to exchange views and insights on the emerging gaming market in Asia Pacific.
Speakers will also share and discuss the impact of the global economic downturn on the gaming industry and the gaming equipment sector from the manufacturers’ perspective.
In addition, they will talk about the current and future outlook in regards to the Asian gaming industry.
The opening ceremony of G2E Asia 2009 will be held in conjunction with the Visionary Award Presentation with a keynote address by Stanley Ho Hung-sun at 10am on June 3 in the Naples Room.
It will be followed by a VIP tour with officiating guests at Exhibition Hall A and B.
The conferences and forums will be open from the morning till the afternoon, with different schedules each day.
(Credit: Macau Daily Times)
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Wednesday, May 20, 2009
Crown moves to distance itself from Ho's run-in with US regulator, by Eli Greenblat - The Sydney Morning Herald - 21st May 2009
James Packer's Crown has played down the possibility of damage to its US growth aspirations after a powerful New Jersey gaming regulator classed the sister of its joint venture partner in Macau as an "unsuitable" business partner.
A confidential report by the New Jersey Division of Gaming Enforcement (DGE) has found that local casino operator MGM Mirage should be "directed to disengage" from its Macau joint venture partner, Pansy Ho, daughter of Asian gambling tycoon Stanley Ho. Among other things, the document highlighted compliance problems and deficient due diligence.
It represents the first adverse ruling against the second generation of the Ho family by a US state gaming body and might be used by other American jurisdictions to force a divestment by the clan of all of its US activities and partnerships.
News of the overnight findings sparked concerns that the contagion could also spread to Crown's billion-dollar tie-up with its Macau partner, Melco International.
Lawrence Ho, brother of Pansy, is the chief executive of Melco, which together with Crown forged a $US8.7 billion ($11.3 billion) casino business in 2006 called Melco Crown Entertainment to build a string of casinos and hotels.
But last night, Anthony Klok, the head of Crown's investor relations and director of its international business development, said the New Jersey investigation would not affect its dealings with Lawrence Ho or Crown's separate and independent operations in the US.
"It has no affect on us, our relationship with Lawrence or Melco … the Lawrence-Melco relationship has been approved in Australia and in Nevada some time ago," Mr Klok said.
He said when Crown sought approval for its purchase of the Cannery Casino Resorts business in the US for $US1.75 billion, it was fully investigated and cleared by Nevada gaming regulators. This would have included a review of Crown's associates, including Melco and Lawrence Ho.
The investigation into Ms Ho was kicked off in 2005 after MGM Mirage sought a renewal of its Borgata casino licence in Atlantic City which sub-sequently extended into a review of the $US1.25 billion MGM Grand Macau in which Ms Ho has a 50 per cent stake.
In a filing to the US Securities and Exchange Commission, the chief financial officer of MGM Mirage, Daniel D'Arrigo, said the DGE recommended that its partner be found to be unsuitable and MGM was directed to disengage itself from any association.
However, Mr D'Arrigo added that the report was merely a recommendation and was not binding on the New Jersey Casino Control Commission, which will have the final say. (Credit: The Sydney Morning Herald)
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A confidential report by the New Jersey Division of Gaming Enforcement (DGE) has found that local casino operator MGM Mirage should be "directed to disengage" from its Macau joint venture partner, Pansy Ho, daughter of Asian gambling tycoon Stanley Ho. Among other things, the document highlighted compliance problems and deficient due diligence.
It represents the first adverse ruling against the second generation of the Ho family by a US state gaming body and might be used by other American jurisdictions to force a divestment by the clan of all of its US activities and partnerships.
News of the overnight findings sparked concerns that the contagion could also spread to Crown's billion-dollar tie-up with its Macau partner, Melco International.
Lawrence Ho, brother of Pansy, is the chief executive of Melco, which together with Crown forged a $US8.7 billion ($11.3 billion) casino business in 2006 called Melco Crown Entertainment to build a string of casinos and hotels.
But last night, Anthony Klok, the head of Crown's investor relations and director of its international business development, said the New Jersey investigation would not affect its dealings with Lawrence Ho or Crown's separate and independent operations in the US.
"It has no affect on us, our relationship with Lawrence or Melco … the Lawrence-Melco relationship has been approved in Australia and in Nevada some time ago," Mr Klok said.
He said when Crown sought approval for its purchase of the Cannery Casino Resorts business in the US for $US1.75 billion, it was fully investigated and cleared by Nevada gaming regulators. This would have included a review of Crown's associates, including Melco and Lawrence Ho.
The investigation into Ms Ho was kicked off in 2005 after MGM Mirage sought a renewal of its Borgata casino licence in Atlantic City which sub-sequently extended into a review of the $US1.25 billion MGM Grand Macau in which Ms Ho has a 50 per cent stake.
In a filing to the US Securities and Exchange Commission, the chief financial officer of MGM Mirage, Daniel D'Arrigo, said the DGE recommended that its partner be found to be unsuitable and MGM was directed to disengage itself from any association.
However, Mr D'Arrigo added that the report was merely a recommendation and was not binding on the New Jersey Casino Control Commission, which will have the final say. (Credit: The Sydney Morning Herald)
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Sunday, May 17, 2009
Classic Slots Online - Virgin Casino Slots - Top 5
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Thursday, May 14, 2009
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Tuesday, May 12, 2009
Crown expansion plan draws fire from critics, by Sarah-Jane Collins and Jason Dowling - The Sydney Morning Herald - 13th May 2009
Crown Casino has been granted its biggest expansion in gambling capacity since opening at its Southbank location more than a decade ago, in a deal attacked yesterday by campaigners for responsible gaming.
The casino, now one of the biggest in the world, will be able to increase its number of gambling tables by more than 40 per cent to 500 tables.
"Clearly the casino is being treated as the primary and first citizen of the state, with privileges that are really a cosy deal without the rest of the community having any say," the Reverend Tim Costello said.
The Victorian Gaming Minister, Tony Robinson, said the Government had agreed with Crown to alter their licence agreement to allow for 150 extra gaming tables and an expansion of the gaming floor. In exchange, Crown will pay about 10.5 per cent extra in poker machine taxes, bringing it into line with other pokie machine operators across Victoria. The increase will be implemented in 1.7 per cent increments over six years.
"This is bringing the tax that they pay on their poker machines up to the level that is paid by other entities across the state, so it's a good deal for taxpayers," Mr Robinson said.
He said allowing the expansion would ensure Crown remained the first choice casino destination in Australia.
"If people ultimately want to have the boiled sweets experience of casinos, let them go to Sydney. If they want the rolled gold dark chocolate experience they're going to keep coming to Melbourne and we're going to ensure that."
Gary O'Neill, from Crown Casino, said the deal meant Crown would be able to keep up with growing rivals in Macau and Singapore. "The new mega complexes are very big. They will be very competitive and they will compete for the tourist dollar in this part of the world."
Mr O'Neill said the gaming floor at Crown would expand but final approval for an expansion rests with the Victorian Commission for Gambling Regulation.
Mark Zirnsak, from the Interfaith Gambling Taskforce described the expansion as appalling. "This, coming at a time when there's a global financial crisis, it's going to push more Victorians into being in hardship and vulnerable," he said.
Dr Zirnsak said the deal pointed to the "very cosy relationship between the Government and Crown".
"There's been no consultation on this expansion, which we believe there should have been, and the timing is indeed appalling," he said.
He said Crown did not need an expansion to remain competitive. "They've got a monopoly [in Victoria] and most of their patrons aren't millionaires flying in from overseas. They are locals," he said.
But he said he supported the increase in pokies taxes.
The Opposition's gaming spokesman, Michael O'Brien, said Mr Robinson had waited until budget day to announce the deal in an attempt to bury a bad decision. "Labor is clearly embarrassed by this gambling boost and tax grab, as it should be." (Credit: The Sydney Morning Herald)
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The casino, now one of the biggest in the world, will be able to increase its number of gambling tables by more than 40 per cent to 500 tables.
"Clearly the casino is being treated as the primary and first citizen of the state, with privileges that are really a cosy deal without the rest of the community having any say," the Reverend Tim Costello said.
The Victorian Gaming Minister, Tony Robinson, said the Government had agreed with Crown to alter their licence agreement to allow for 150 extra gaming tables and an expansion of the gaming floor. In exchange, Crown will pay about 10.5 per cent extra in poker machine taxes, bringing it into line with other pokie machine operators across Victoria. The increase will be implemented in 1.7 per cent increments over six years.
"This is bringing the tax that they pay on their poker machines up to the level that is paid by other entities across the state, so it's a good deal for taxpayers," Mr Robinson said.
He said allowing the expansion would ensure Crown remained the first choice casino destination in Australia.
"If people ultimately want to have the boiled sweets experience of casinos, let them go to Sydney. If they want the rolled gold dark chocolate experience they're going to keep coming to Melbourne and we're going to ensure that."
Gary O'Neill, from Crown Casino, said the deal meant Crown would be able to keep up with growing rivals in Macau and Singapore. "The new mega complexes are very big. They will be very competitive and they will compete for the tourist dollar in this part of the world."
Mr O'Neill said the gaming floor at Crown would expand but final approval for an expansion rests with the Victorian Commission for Gambling Regulation.
Mark Zirnsak, from the Interfaith Gambling Taskforce described the expansion as appalling. "This, coming at a time when there's a global financial crisis, it's going to push more Victorians into being in hardship and vulnerable," he said.
Dr Zirnsak said the deal pointed to the "very cosy relationship between the Government and Crown".
"There's been no consultation on this expansion, which we believe there should have been, and the timing is indeed appalling," he said.
He said Crown did not need an expansion to remain competitive. "They've got a monopoly [in Victoria] and most of their patrons aren't millionaires flying in from overseas. They are locals," he said.
But he said he supported the increase in pokies taxes.
The Opposition's gaming spokesman, Michael O'Brien, said Mr Robinson had waited until budget day to announce the deal in an attempt to bury a bad decision. "Labor is clearly embarrassed by this gambling boost and tax grab, as it should be." (Credit: The Sydney Morning Herald)
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Monday, May 11, 2009
Betfair goes to court over Dutch bank ban - 11th May 2009
One of Britain's biggest betting companies is taking the Dutch Government to court over its attempt to block Dutch banks from processing the payment of bets made over the internet.
Betfair, the betting exchange operator, which has been seeking a Dutch licence since 2004, described actions by the Ministry of Justice as "a desperate move" to protect the position of De Lotto, the Dutch state monopoly.
The ministry recently wrote to domestic banks claiming that, because Dutch laws did not allow for the licensing of internet gambling companies, it was "inappropriate for banks to provide facilities to the providers of illegal games of chance".
It urged the directors of the banks to terminate all relationships with internet gambling operators "within a reasonable timeframe".
Betfair maintains that it is entitled to accept bets from The Netherlands because Dutch residents are allowed to bet online with De Lotto and because it is a licensed operator in the EU, with licences in Britain and Malta.
Betfair managing director Mark Davies said the ministry's actions "fly in the face of the EU principles of open and fair competition", serving to protect De Lotto and keeping prices high.
The lawsuit by Betfair, which has also made a formal complaint to the European Commission, is the latest salvo in a battle over internet gambling in the EU. Ladbrokes has challenged several governments, including that of the Netherlands, and the EC itself has issued proceedings against the Dutch Government.
Betfair said the timing of the letters to the Dutch banks was "questionable" given that the European Court of Justice, to which cases involving Betfair and Ladbrokes had been referred, had yet to rule on the compatibility of the Dutch Betting & Gaming Act with EU law.
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Betfair, the betting exchange operator, which has been seeking a Dutch licence since 2004, described actions by the Ministry of Justice as "a desperate move" to protect the position of De Lotto, the Dutch state monopoly.
The ministry recently wrote to domestic banks claiming that, because Dutch laws did not allow for the licensing of internet gambling companies, it was "inappropriate for banks to provide facilities to the providers of illegal games of chance".
It urged the directors of the banks to terminate all relationships with internet gambling operators "within a reasonable timeframe".
Betfair maintains that it is entitled to accept bets from The Netherlands because Dutch residents are allowed to bet online with De Lotto and because it is a licensed operator in the EU, with licences in Britain and Malta.
Betfair managing director Mark Davies said the ministry's actions "fly in the face of the EU principles of open and fair competition", serving to protect De Lotto and keeping prices high.
The lawsuit by Betfair, which has also made a formal complaint to the European Commission, is the latest salvo in a battle over internet gambling in the EU. Ladbrokes has challenged several governments, including that of the Netherlands, and the EC itself has issued proceedings against the Dutch Government.
Betfair said the timing of the letters to the Dutch banks was "questionable" given that the European Court of Justice, to which cases involving Betfair and Ladbrokes had been referred, had yet to rule on the compatibility of the Dutch Betting & Gaming Act with EU law.
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Sunday, May 10, 2009
Casino anticipates ten redundancies, by Brian Reyes - Gibraltar Chronicle
The Gibraltar Casino will lose up to 10 of its existing staff as part of a restructure ahead of a £5.5m move to Palm Island in Ocean Village. But it plans to recruit up to 40 new employees locally to fill new posts once the relocation is complete.
Casino manager Stuart Kirkpatrick said about six workers had already been made redundant from a staff of 120 and that a further “three or four” jobs could be lost.
He said affected staff had been offered the option of new posts in the restructured business but many had preferred to move on.
Managers have engaged with union representatives and have met to discuss the changes, he said. The latest meeting is scheduled for today.
The recruitment drive for new employees will start next year and there will be vacancies in all areas of the casino’s business.
“We need to fill those jobs and we’ll be looking locally,” Mr Kirkpatrick said.
The staff shake-up follows a wide-ranging operational review carried out by casino management since April ahead of the move next year.
The Ocean Village site will be a completely revamped casino and could be up and running as early as next August.
UK-based Gala Casino, which owns the Gibraltar Casino, will invest heavily on cutting edge technologies to offer customers new products and games.
“It will be miles from where we are now,” Mr Kirkpatrick said.
(Credit: Gibraltar Chronicle)
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Casino manager Stuart Kirkpatrick said about six workers had already been made redundant from a staff of 120 and that a further “three or four” jobs could be lost.
He said affected staff had been offered the option of new posts in the restructured business but many had preferred to move on.
Managers have engaged with union representatives and have met to discuss the changes, he said. The latest meeting is scheduled for today.
The recruitment drive for new employees will start next year and there will be vacancies in all areas of the casino’s business.
“We need to fill those jobs and we’ll be looking locally,” Mr Kirkpatrick said.
The staff shake-up follows a wide-ranging operational review carried out by casino management since April ahead of the move next year.
The Ocean Village site will be a completely revamped casino and could be up and running as early as next August.
UK-based Gala Casino, which owns the Gibraltar Casino, will invest heavily on cutting edge technologies to offer customers new products and games.
“It will be miles from where we are now,” Mr Kirkpatrick said.
(Credit: Gibraltar Chronicle)
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Wednesday, May 06, 2009
iMEGA Letter to ISPs: Reject Minnesota Online Gambling Blocking Order - Gambling911 - 5th May 2009
The Interactive Media Entertainment & Gaming Association (iMEGA) has sent letters to Internet service providers Comcast, AT&T, Verizon and others, alerting them that they need not comply with an order to block access to Internet gambling Web sites that was issued by the Minnesota Department of Public Safety (DPS) Alcohol & Gambling Enforcement Division (AGED).
iMEGA's letter highlighted the state agency's error applying a federal law - the Wire Act of 1961 (18 USC 1084) - as the basis for issuing an order to block Minnesota residents from freely accessing 200 Web sites included on a "black list" created by DPS/AGED. In addition to a few popular sites, like FullTiltPoker.com and Bodog.com, the list included sites that did not accept business from US residents, and some that were no longer in business.
"Because website operators are not subscribers of yours, have no contracts with you and are not provided facilities by you, you should be aware the the MN DPS is attempting to mislead(either intentionally or inadvertently) you into believing that you are bound by federal law to do what the MN DPS asks," the letter stated. "In fact, [the Wire Act] simply does not apply to the web site operators and imposes no duty upon you and provides no authority to you to comply with the MN DPS request."
iMEGA sent the letter to the ISPs in hope of persuading them not to block access to the sites by Minnesota residents. "The DPS has issued this order on erroneous legal ground," said Joe Brennan Jr., iMEGA chairman. "We hope that the ISPs will disregard the order, and that DPS will reconsider their actions and the far-reaching effects this kind of Internet censorship would have." (Gambling911)
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iMEGA's letter highlighted the state agency's error applying a federal law - the Wire Act of 1961 (18 USC 1084) - as the basis for issuing an order to block Minnesota residents from freely accessing 200 Web sites included on a "black list" created by DPS/AGED. In addition to a few popular sites, like FullTiltPoker.com and Bodog.com, the list included sites that did not accept business from US residents, and some that were no longer in business.
"Because website operators are not subscribers of yours, have no contracts with you and are not provided facilities by you, you should be aware the the MN DPS is attempting to mislead(either intentionally or inadvertently) you into believing that you are bound by federal law to do what the MN DPS asks," the letter stated. "In fact, [the Wire Act] simply does not apply to the web site operators and imposes no duty upon you and provides no authority to you to comply with the MN DPS request."
iMEGA sent the letter to the ISPs in hope of persuading them not to block access to the sites by Minnesota residents. "The DPS has issued this order on erroneous legal ground," said Joe Brennan Jr., iMEGA chairman. "We hope that the ISPs will disregard the order, and that DPS will reconsider their actions and the far-reaching effects this kind of Internet censorship would have." (Gambling911)
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Tuesday, May 05, 2009
Swiss To Offer Online Gambling Licenses - iGaming Business - 5th May 2009
In Switzerland, the Government has announced plans to liberalise its online gambling market by offering operators a limited number of licenses while keeping a ban on wagers placed through telephone and interactive television.
The proposals are the idea of the Justice Ministry in response to the increasing number of illegal online money games but any changes would be subject to the approval of the Swiss Parliament.
The plan would also tighten measures against other forms of illegal gambling, which could see the Swiss run afoul of the European Commission for seeming to give preferential treatment to locally licensed providers over those based in other Member States.
According to an article from news portal SwissInfo.ch, new forms of gambling in Switzerland could see the Government generate tax revenues of up to $22 million a year.
The Swiss decision comes hard on the heels of Denmark’s announcement last week that it would be presenting proposals that would, if passed, end the 60-year gaming monopoly of the State-owned Danske Spil organisation. (Credit: iGaming Business)
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The proposals are the idea of the Justice Ministry in response to the increasing number of illegal online money games but any changes would be subject to the approval of the Swiss Parliament.
The plan would also tighten measures against other forms of illegal gambling, which could see the Swiss run afoul of the European Commission for seeming to give preferential treatment to locally licensed providers over those based in other Member States.
According to an article from news portal SwissInfo.ch, new forms of gambling in Switzerland could see the Government generate tax revenues of up to $22 million a year.
The Swiss decision comes hard on the heels of Denmark’s announcement last week that it would be presenting proposals that would, if passed, end the 60-year gaming monopoly of the State-owned Danske Spil organisation. (Credit: iGaming Business)
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Great Women of Gaming for 2008 award winners honored - Indian Country Today - 5th May 2009
Casino Enterprise Management Magazine spotlights gaming executives for outstanding professionalism, perseverance, drive, commitment and mentorship
FARGO, N.D. – Casino Enterprise Management Magazine named the winners of its 2008 Great Women of Gaming Awards, now in its fourth year.
This year, 10 award winners were broken down into two categories: Proven Leaders and Rising Stars. To qualify as a Proven Leader, candidates must have worked in the gaming industry for a minimum of 10 years and have been in their current position for at least one year. They must also work for a gaming industry company and hold a position of director or higher, having demonstrated exceptional achievement in at least three of the following areas: 1) ability to go above and beyond job responsibilities; 2) commitment to company and co-workers; 3) contributions to the industry as a whole; 4) commitment to mentoring; and 5) strong overall life balance.
The 2008 Great Women of Gaming Proven Leader Award winners are:
• Cath Burns, vice president, Asia-Pacific and managing director, Bally Macau.
• Libby Francisco, chief operations officer, Tohono O’odham Gaming Enterprise.
• Jana McKeag, president and co-owner, Lowry Strategies.
• Cynthia Kiser Murphy, president and COO, New York – New York Hotel & Casino.
• Linda Roe, vice president of business development and client relations, Thalden-Boyd-Emery Architects.
To qualify as a Rising Star, candidates must have worked in the gaming industry for a minimum of three years and have been in their current position for at least one year. They must also work for a gaming industry company and hold a position of manager or higher, having demonstrated exceptional achievement in at least three of the same five areas as proven Leaders.
The 2008 Great Women of Gaming Rising Star Award winners are:
• Michelle Chatigny, vice president of compliance, International Game Technology.
• Catina Moore, senior manager of operations, WMS Gaming.
• Valerie Morris, regional vice president of sales, communications and community relations, Harrah’s Entertainment.
• Treena L. Parvello, director of marketing and public relations, Tohono O’odham Gaming Enterprise.
• Jennifer Roberts, associate attorney, Gaming and Regulatory Department, Lionel Sawyer & Collins Las Vegas.
This year’s judging committee comprised of former Great Women of Gaming award winners and other industry leaders including Brenda Boudreaux, vice president of product management, International Game Technology; Dona Cassese, creative director of global marketing communications and operations, Aristocrat Americas; Tracey Chernay, senior vice president of sales and marketing, Transact Technologies; Christie Eickelman, senior director of worldwide marketing, Gaming Laboratories International; Christie Modlin, tribal chair, Iowa Tribe of Oklahoma; Shelia Morago, executive director, Arizona Indian Gaming Commission; Courtney Muller, group vice president, Reed Exhibitions; Debra J. Nelson, vice president of corporate diversity and community affairs, MGM MIRAGE; Mary Lynn Palenik, director of development, research and analysis, PricewaterhouseCoopers LLP; and Lynn “Nay” Valbeauna, vice chair, San Manuel Band of Mission Indians.
“This year’s candidates were an accomplished group of women from all facets of the gaming industry,” said Peter Mead, publisher of Casino Enterprise Management Magazine. “Our judges had a difficult decision choosing the winners, and I believe they did an excellent job selecting the top 10. But, in the end, each woman nominated is a Great Women of Gaming to our industry. It’s been a pleasure of ours to continue to honor these women as they continue to strive for personal and professional excellence.”
An in-depth article featuring profiles of this year’s 10 award winners will be featured in the May issue of Casino Enterprise Management Magazine. The winners will also receive the prestigious crystal Great Women of Gaming Award and will be honored at a dedicated ceremony. (Credit: Indian Country Today)
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FARGO, N.D. – Casino Enterprise Management Magazine named the winners of its 2008 Great Women of Gaming Awards, now in its fourth year.
This year, 10 award winners were broken down into two categories: Proven Leaders and Rising Stars. To qualify as a Proven Leader, candidates must have worked in the gaming industry for a minimum of 10 years and have been in their current position for at least one year. They must also work for a gaming industry company and hold a position of director or higher, having demonstrated exceptional achievement in at least three of the following areas: 1) ability to go above and beyond job responsibilities; 2) commitment to company and co-workers; 3) contributions to the industry as a whole; 4) commitment to mentoring; and 5) strong overall life balance.
The 2008 Great Women of Gaming Proven Leader Award winners are:
• Cath Burns, vice president, Asia-Pacific and managing director, Bally Macau.
• Libby Francisco, chief operations officer, Tohono O’odham Gaming Enterprise.
• Jana McKeag, president and co-owner, Lowry Strategies.
• Cynthia Kiser Murphy, president and COO, New York – New York Hotel & Casino.
• Linda Roe, vice president of business development and client relations, Thalden-Boyd-Emery Architects.
To qualify as a Rising Star, candidates must have worked in the gaming industry for a minimum of three years and have been in their current position for at least one year. They must also work for a gaming industry company and hold a position of manager or higher, having demonstrated exceptional achievement in at least three of the same five areas as proven Leaders.
The 2008 Great Women of Gaming Rising Star Award winners are:
• Michelle Chatigny, vice president of compliance, International Game Technology.
• Catina Moore, senior manager of operations, WMS Gaming.
• Valerie Morris, regional vice president of sales, communications and community relations, Harrah’s Entertainment.
• Treena L. Parvello, director of marketing and public relations, Tohono O’odham Gaming Enterprise.
• Jennifer Roberts, associate attorney, Gaming and Regulatory Department, Lionel Sawyer & Collins Las Vegas.
This year’s judging committee comprised of former Great Women of Gaming award winners and other industry leaders including Brenda Boudreaux, vice president of product management, International Game Technology; Dona Cassese, creative director of global marketing communications and operations, Aristocrat Americas; Tracey Chernay, senior vice president of sales and marketing, Transact Technologies; Christie Eickelman, senior director of worldwide marketing, Gaming Laboratories International; Christie Modlin, tribal chair, Iowa Tribe of Oklahoma; Shelia Morago, executive director, Arizona Indian Gaming Commission; Courtney Muller, group vice president, Reed Exhibitions; Debra J. Nelson, vice president of corporate diversity and community affairs, MGM MIRAGE; Mary Lynn Palenik, director of development, research and analysis, PricewaterhouseCoopers LLP; and Lynn “Nay” Valbeauna, vice chair, San Manuel Band of Mission Indians.
“This year’s candidates were an accomplished group of women from all facets of the gaming industry,” said Peter Mead, publisher of Casino Enterprise Management Magazine. “Our judges had a difficult decision choosing the winners, and I believe they did an excellent job selecting the top 10. But, in the end, each woman nominated is a Great Women of Gaming to our industry. It’s been a pleasure of ours to continue to honor these women as they continue to strive for personal and professional excellence.”
An in-depth article featuring profiles of this year’s 10 award winners will be featured in the May issue of Casino Enterprise Management Magazine. The winners will also receive the prestigious crystal Great Women of Gaming Award and will be honored at a dedicated ceremony. (Credit: Indian Country Today)
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State plays its hand in targeting online gambling websites, by Paul Walsh - Star Tribune - 1st May 2009
Users may be finding ways around Minnesota's attempt to cut off access to the 200 Internet game sites.
The state of Minnesota on Friday released the names of 200 online gambling websites it is trying to prevent Minnesotans from using, warning that Internet wagering is illegal.
The specific sites being targeted will be of interest to Minnesotans who use them and are concerned that any balances they have with those operations could be lost if the state succeeds in blocking access.
Fulltime online poker player and instructor Chris Wallace of St. Paul scoffed at the list built by the state, however.
"I'm certain they didn't do a whole lot of research," Wallace said. "The largest poker site in the world [Poker Stars] is not listed."
Wallace also said he's confident that he won't lose any money because of the state's block. "I do have money in many of these sites," he said. "The worst is that I will drive over to Wisconsin and request a cashout."
He said he has already shifted his computer to a server in the Cayman Islands and was back on his favorite site within 20 minutes at no expense, thereby getting around any block that Minnesota wants put in place.
On Wednesday, a division of the state Department of Public Safety that enforces gambling and alcohol laws said it has instructed 11 national and regional telephone and Internet service providers (ISPs) to block access by all Minnesota-based computers to the websites on the list.
Minnesota says all online gambling within its borders is illegal, even if the games are hosted outside the United States.
Operators of these types of sites are spread around the world, most commonly in the United Kingdom and the Caribbean, as some of their names suggest: Casino Euro, English Harbour and Virgin Games, among others.
Written notices from the division were served Monday to AT&T Internet Services, Charter Communications, Comcast Cable, DirecTV, Dish Network, Embarq and Sprint/Nextel, Frontier Communications, Qwest, Verizon Wireless and Wildblue Communications. (Credit: Star Tribune)
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The state of Minnesota on Friday released the names of 200 online gambling websites it is trying to prevent Minnesotans from using, warning that Internet wagering is illegal.
The specific sites being targeted will be of interest to Minnesotans who use them and are concerned that any balances they have with those operations could be lost if the state succeeds in blocking access.
Fulltime online poker player and instructor Chris Wallace of St. Paul scoffed at the list built by the state, however.
"I'm certain they didn't do a whole lot of research," Wallace said. "The largest poker site in the world [Poker Stars] is not listed."
Wallace also said he's confident that he won't lose any money because of the state's block. "I do have money in many of these sites," he said. "The worst is that I will drive over to Wisconsin and request a cashout."
He said he has already shifted his computer to a server in the Cayman Islands and was back on his favorite site within 20 minutes at no expense, thereby getting around any block that Minnesota wants put in place.
On Wednesday, a division of the state Department of Public Safety that enforces gambling and alcohol laws said it has instructed 11 national and regional telephone and Internet service providers (ISPs) to block access by all Minnesota-based computers to the websites on the list.
Minnesota says all online gambling within its borders is illegal, even if the games are hosted outside the United States.
Operators of these types of sites are spread around the world, most commonly in the United Kingdom and the Caribbean, as some of their names suggest: Casino Euro, English Harbour and Virgin Games, among others.
Written notices from the division were served Monday to AT&T Internet Services, Charter Communications, Comcast Cable, DirecTV, Dish Network, Embarq and Sprint/Nextel, Frontier Communications, Qwest, Verizon Wireless and Wildblue Communications. (Credit: Star Tribune)
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Thursday, April 30, 2009
Levy threat to overseas gambling groups, by Roger Blitz - Financial Times - 30th April 2009
Overseas-based gambling operators face having to pay millions of pounds in levies to support horseracing and research into gambling addiction, under new regulations being considered by ministers.
MPs have complained about the unfairness of British-based operators paying such levies while operators licensed offshore are allowed to advertise their products in the UK, yet pay nothing.
The view is shared by UK-based bookmakers who this week agreed to a further year of contributions to the Horserace Betting Levy, amounting to 10 per cent of their gross profits and adding up to about £100m ($148m).
Gerry Sutcliffe, sports minister, will announce on Thursday a review by the Gambling Commission and civil servants aimed at creating a fairer system of payments and “a more level playing field between British businesses and their overseas counterparts”.
As well as contributing to the horseracing levy, companies that have offshore servers such as PartyGaming, 888, Sportingbet and Betfair could be expected to help pay for regulating the industry and the treatment of problem gambling.
But the review faces complex issues, such as whether it would be possible to distinguish between the profits offshore companies make from UK and non-UK punters in order to determine the levy.
Mr Sutcliffe said the remit would also look into issues such as allegations of match fixing and what gambling operators are doing to preserve the integrity of sport.
He has already beefed up the commission’s investigations into betting irregularities by bringing in outside experts from sport, the betting industry and the police.
The commission and the Department for Culture, Media and Sport will also review the controls introduced in the 2005 Gambling Act that created a regulated market for online operators.
Since September 2007, companies licensed in UK-recognised licensing jurisdictions such as Alderney, Gibraltar and the Isle of Man have been allowed to advertise under regulations policed by the commission.
MPs have been pressing ministers to explain why vast amounts of the £1.4bn generated by online gambling in the UK goes abroad.
Mr Sutcliffe said the Gambling Act, though freeing up the industry, was aimed at protecting consumers.
“We have taken steps in the right direction, but technology is changing and attitudes are changing,” he said.
Mr Sutcliffe said he recognised that Britain’s gaming taxation regime discouraged operators from basing their servers in the UK, but the issue was one for the Treasury to examine. (Credit: Financial Times)
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MPs have complained about the unfairness of British-based operators paying such levies while operators licensed offshore are allowed to advertise their products in the UK, yet pay nothing.
The view is shared by UK-based bookmakers who this week agreed to a further year of contributions to the Horserace Betting Levy, amounting to 10 per cent of their gross profits and adding up to about £100m ($148m).
Gerry Sutcliffe, sports minister, will announce on Thursday a review by the Gambling Commission and civil servants aimed at creating a fairer system of payments and “a more level playing field between British businesses and their overseas counterparts”.
As well as contributing to the horseracing levy, companies that have offshore servers such as PartyGaming, 888, Sportingbet and Betfair could be expected to help pay for regulating the industry and the treatment of problem gambling.
But the review faces complex issues, such as whether it would be possible to distinguish between the profits offshore companies make from UK and non-UK punters in order to determine the levy.
Mr Sutcliffe said the remit would also look into issues such as allegations of match fixing and what gambling operators are doing to preserve the integrity of sport.
He has already beefed up the commission’s investigations into betting irregularities by bringing in outside experts from sport, the betting industry and the police.
The commission and the Department for Culture, Media and Sport will also review the controls introduced in the 2005 Gambling Act that created a regulated market for online operators.
Since September 2007, companies licensed in UK-recognised licensing jurisdictions such as Alderney, Gibraltar and the Isle of Man have been allowed to advertise under regulations policed by the commission.
MPs have been pressing ministers to explain why vast amounts of the £1.4bn generated by online gambling in the UK goes abroad.
Mr Sutcliffe said the Gambling Act, though freeing up the industry, was aimed at protecting consumers.
“We have taken steps in the right direction, but technology is changing and attitudes are changing,” he said.
Mr Sutcliffe said he recognised that Britain’s gaming taxation regime discouraged operators from basing their servers in the UK, but the issue was one for the Treasury to examine. (Credit: Financial Times)
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Tuesday, April 28, 2009
Crown confident in Macau growth outlook - 29th April 2009
Casinos operator Crown Ltd has bought more shares in its joint-venture casino operator and developer in Macau, Melco Crown Entertainment Ltd (MPEL), and expressed confidence in the growth outlook for the Chinese enclave.
MPEL operates the Altira Macau, formerly known as Crown Macau, which opened in May 2007.
MPEL is also developing the City of Dreams casino resort at Cotai in Macau.
MPEL's major shareholders are Crown and the Hong Kong-listed Melco International Development Ltd (Melco).
Crown said on Wednesday that it had agreed to take $US45 million ($A63.71 million) in additional equity in MPEL's $US165 million ($A233.61 million) equity placement.
The placement may rise to $US180 million ($A254.85 million) if an over allotment option is exercised.
Melco has participated in the MPEL placement on the same terms as Crown.
Crown said the cost of its cash equity investment in MPEL, including the new shares, was now $US500 million ($A707.91 million).
Following the MPEL placement and assuming full exercise of the over allotment option, Crown's ownership interest in MPEL will be diluted slightly to 36.4 per cent.
"The substantial participation in this transaction by the founding shareholders of the company - Melco International and Crown Ltd - confirms our confidence in the growth outlook for Macau and Melco Crown Entertainment's competitive position within the market," Crown executive chairman James Packer, who is also co-chairman of MPEL, said.
"I am convinced that City of Dreams will set a new standard for casino development in Asia."
MPEL said that City of Dreams remained on track to open in early June and on budget.
Crown shares were steady at $6.42 at 1230 AEST on Wednesday.
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MPEL operates the Altira Macau, formerly known as Crown Macau, which opened in May 2007.
MPEL is also developing the City of Dreams casino resort at Cotai in Macau.
MPEL's major shareholders are Crown and the Hong Kong-listed Melco International Development Ltd (Melco).
Crown said on Wednesday that it had agreed to take $US45 million ($A63.71 million) in additional equity in MPEL's $US165 million ($A233.61 million) equity placement.
The placement may rise to $US180 million ($A254.85 million) if an over allotment option is exercised.
Melco has participated in the MPEL placement on the same terms as Crown.
Crown said the cost of its cash equity investment in MPEL, including the new shares, was now $US500 million ($A707.91 million).
Following the MPEL placement and assuming full exercise of the over allotment option, Crown's ownership interest in MPEL will be diluted slightly to 36.4 per cent.
"The substantial participation in this transaction by the founding shareholders of the company - Melco International and Crown Ltd - confirms our confidence in the growth outlook for Macau and Melco Crown Entertainment's competitive position within the market," Crown executive chairman James Packer, who is also co-chairman of MPEL, said.
"I am convinced that City of Dreams will set a new standard for casino development in Asia."
MPEL said that City of Dreams remained on track to open in early June and on budget.
Crown shares were steady at $6.42 at 1230 AEST on Wednesday.
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A New Chance for Online Gambling in the U.S., By Eric Pfanner - The New York Times - 26th April 2009
PARIS — Is online gambling coming in from the cold?
When the U.S. Congress cracked down on Internet betting in 2006, the big, publicly traded European companies that had dominated the business closed up shop in the United States. Growth in the booming industry shifted away from these companies, once the darlings of the stock market, to private operators in offshore locations like Antigua and the Isle of Man.
But now, executives of some of the European companies whisper excitedly that they may soon get a second chance in the United States. Meanwhile, a number of European countries that have long maintained barriers are moving, under pressure from regulators, to legalize, and tax, online gambling.
“There’s still a lot of gambling going on, where there’s no revenue coming in to the governments,” said Gavin Kelleher, an analyst at the research firm H2 Gambling Capital in Ireland. “They realize they could use the revenue.”
The biggest potential change would be in the United States, where, perhaps within days, Representative Barney Frank, Democrat of Massachusetts, is expected to introduce legislation aimed at overturning the Unlawful Internet Gambling Enforcement Act.
“He supports the repeal and wants to move forward on it,” said Steve Adamske, communications director for the House Financial Services Committee, of which Mr. Frank is chairman.
Mr. Frank tried and failed to do so once before, in 2007. But advocates of liberalization think they might get a friendlier hearing in Washington this time around. President Barack Obama, they note, boasted of his poker prowess during the election campaign. And the Democrats, who are seen as less hostile to Internet gambling than the Republicans, have tightened their grip on Congress.
A study by PricewaterhouseCoopers says the U.S. government could raise more than $50 billion over 10 years from taxes on legalized online gambling.
“I’d be amazed if it didn’t happen over the next two or three years,” said Clive Hawkswood, chief executive of the Remote Gambling Association, a trade group based in London. “It’s just a question of what exactly the regulations will say.”
Some analysts say that may be getting a little bit ahead of the game. Opponents of a repeal, including the Christian Coalition of America and the National Football League, have vowed to fight any new effort to end the ban.
Michele Combs, a spokeswoman for the Christian Coalition, said the group was gearing up for a “massive campaign” of letter-writing and lobbying to try to prevent any loosening of the law.
“We’re not saying people shouldn’t go to Las Vegas,” she said. “But when it’s in your home, it’s too easy. It breaks up families.”
U.S. sports leagues, meanwhile, worry that the ease of online betting increases the chances of game-fixing. Even the most bullish advocates of online gambling acknowledge that Internet sports betting — as opposed to poker or casino games — is highly unlikely to be legalized.
“There’s a better chance now for some sort of gaming legislation to be approved,” said Nick Batram, an analyst at KBC Peel Hunt, a brokerage firm in London. “But it took longer than expected to put anti-gaming legislation in place, and it will probably will take longer than expected to remove it.”
Since the 2006 law was passed, North America, once the biggest market, has been passed by Europe and Asia, according to figures from H2 Gambling Capital. The law makes it illegal for financial institutions to handle payments to online gambling sites. But enough people have found ways around it, some by using overseas payment processors, to ensure that online gambling remains a thriving business. H2 says online gambling generated revenue of $6 billion last year in North America, more than a quarter the global total of $22.6 billion, up from $17.6 billion in 2006.
Pulling out of the United States cost PartyGaming about three-quarters of its business. Its position as the biggest online poker provider has been taken over by PokerStars, a privately held operator based on the Isle of Man.
This month, PartyGaming agreed to a $105 million settlement with the U.S. attorney’s office in New York, involving the period before 2006, when it acknowledged that its activities had been “contrary to certain U.S. laws.” In turn, the U.S. authorities agreed not to prosecute the company, which is listed on the London Stock Exchange, or its executives.
The agreement fueled speculation that PartyGaming might be trying to position itself for a return to the U.S. market, if online gambling were legalized.
Analysts say one possibility for European companies like PartyGaming, should the ban be lifted, would be to form partnerships with American casino operators. That would allow the European companies to share their online expertise. Operating alone, they might struggle to obtain licenses, given their history of run-ins with U.S. law enforcement, analysts said.
“It’s my feeling that even if the market were opened up, the U.S. government, in a palatable way, would probably find a way to give local companies a favorable position,” Mr. Batram said.
So far, Las Vegas executives have maintained a cautious stance about legalization of online gambling. Steve Wynn, chief executive of Wynn Resorts, said in an e-mail message that he thought it would be “impossible to regulate.”
“Even though it would be a benefit to our company, we are strongly opposed,” he said.
But speculation that Las Vegas casino operators were looking into the possibilities was fueled by recent reports that Harrah’s Entertainment, which owns Caesars Palace and other casinos, recently hired Mitch Garber, former chief executive of PartyGaming, for an unspecified role. Harrah’s did not return calls.
Mr. Ryan said that PartyGaming planned to focus on acquisition opportunities to increase its market share in Europe and elsewhere, something that was difficult as long as investors were worried about the U.S. litigation. “We think Mr. Frank’s efforts are quite meaningful to the sector,” he said.
Several other online gambling companies whose shares are traded in London, including 888 Holdings and Sportingbet, are still in talks with the U.S. Justice Department. Analysts expect them, along with companies like Bwin International, whose stock is traded in Vienna, to be involved in a round of consolidation in the industry — along with a possible eventual move back into the United States.
As they await developments in Washington, online gambling companies are looking for growth in Europe and Asia. Under pressure from regulators in Brussels, several European Union members, including France, Italy, Spain and Denmark, have been moving to legalize some kinds of online gambling, turning it into a regulated and taxed business. Britain was the first big European country to do so, in 2005.
Other countries, like Germany, Greece and the Netherlands, continue to hold out, though, in what the European Commission sees as an effort to protect government-sponsored gambling monopolies from private competition.
The commission in March published a report arguing that the United States was violating World Trade Organization rules by keeping out European online gambling companies, given that online betting on horse racing is permitted in the United States. But the commission said that it favored negotiations, rather than legal action, to end the dispute.
Also in March, however, the European Parliament adopted a separate measure supporting the right of individual E.U. member states to make their own rules on online gambling.
“It’s interesting that the European Commission is telling the U.S. it’s persecuting European companies when it can’t even get its own house sorted out,” Mr. Batram said.
(Credit: The New York Times)
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When the U.S. Congress cracked down on Internet betting in 2006, the big, publicly traded European companies that had dominated the business closed up shop in the United States. Growth in the booming industry shifted away from these companies, once the darlings of the stock market, to private operators in offshore locations like Antigua and the Isle of Man.
But now, executives of some of the European companies whisper excitedly that they may soon get a second chance in the United States. Meanwhile, a number of European countries that have long maintained barriers are moving, under pressure from regulators, to legalize, and tax, online gambling.
“There’s still a lot of gambling going on, where there’s no revenue coming in to the governments,” said Gavin Kelleher, an analyst at the research firm H2 Gambling Capital in Ireland. “They realize they could use the revenue.”
The biggest potential change would be in the United States, where, perhaps within days, Representative Barney Frank, Democrat of Massachusetts, is expected to introduce legislation aimed at overturning the Unlawful Internet Gambling Enforcement Act.
“He supports the repeal and wants to move forward on it,” said Steve Adamske, communications director for the House Financial Services Committee, of which Mr. Frank is chairman.
Mr. Frank tried and failed to do so once before, in 2007. But advocates of liberalization think they might get a friendlier hearing in Washington this time around. President Barack Obama, they note, boasted of his poker prowess during the election campaign. And the Democrats, who are seen as less hostile to Internet gambling than the Republicans, have tightened their grip on Congress.
A study by PricewaterhouseCoopers says the U.S. government could raise more than $50 billion over 10 years from taxes on legalized online gambling.
“I’d be amazed if it didn’t happen over the next two or three years,” said Clive Hawkswood, chief executive of the Remote Gambling Association, a trade group based in London. “It’s just a question of what exactly the regulations will say.”
Some analysts say that may be getting a little bit ahead of the game. Opponents of a repeal, including the Christian Coalition of America and the National Football League, have vowed to fight any new effort to end the ban.
Michele Combs, a spokeswoman for the Christian Coalition, said the group was gearing up for a “massive campaign” of letter-writing and lobbying to try to prevent any loosening of the law.
“We’re not saying people shouldn’t go to Las Vegas,” she said. “But when it’s in your home, it’s too easy. It breaks up families.”
U.S. sports leagues, meanwhile, worry that the ease of online betting increases the chances of game-fixing. Even the most bullish advocates of online gambling acknowledge that Internet sports betting — as opposed to poker or casino games — is highly unlikely to be legalized.
“There’s a better chance now for some sort of gaming legislation to be approved,” said Nick Batram, an analyst at KBC Peel Hunt, a brokerage firm in London. “But it took longer than expected to put anti-gaming legislation in place, and it will probably will take longer than expected to remove it.”
Since the 2006 law was passed, North America, once the biggest market, has been passed by Europe and Asia, according to figures from H2 Gambling Capital. The law makes it illegal for financial institutions to handle payments to online gambling sites. But enough people have found ways around it, some by using overseas payment processors, to ensure that online gambling remains a thriving business. H2 says online gambling generated revenue of $6 billion last year in North America, more than a quarter the global total of $22.6 billion, up from $17.6 billion in 2006.
Pulling out of the United States cost PartyGaming about three-quarters of its business. Its position as the biggest online poker provider has been taken over by PokerStars, a privately held operator based on the Isle of Man.
This month, PartyGaming agreed to a $105 million settlement with the U.S. attorney’s office in New York, involving the period before 2006, when it acknowledged that its activities had been “contrary to certain U.S. laws.” In turn, the U.S. authorities agreed not to prosecute the company, which is listed on the London Stock Exchange, or its executives.
The agreement fueled speculation that PartyGaming might be trying to position itself for a return to the U.S. market, if online gambling were legalized.
Analysts say one possibility for European companies like PartyGaming, should the ban be lifted, would be to form partnerships with American casino operators. That would allow the European companies to share their online expertise. Operating alone, they might struggle to obtain licenses, given their history of run-ins with U.S. law enforcement, analysts said.
“It’s my feeling that even if the market were opened up, the U.S. government, in a palatable way, would probably find a way to give local companies a favorable position,” Mr. Batram said.
So far, Las Vegas executives have maintained a cautious stance about legalization of online gambling. Steve Wynn, chief executive of Wynn Resorts, said in an e-mail message that he thought it would be “impossible to regulate.”
“Even though it would be a benefit to our company, we are strongly opposed,” he said.
But speculation that Las Vegas casino operators were looking into the possibilities was fueled by recent reports that Harrah’s Entertainment, which owns Caesars Palace and other casinos, recently hired Mitch Garber, former chief executive of PartyGaming, for an unspecified role. Harrah’s did not return calls.
Mr. Ryan said that PartyGaming planned to focus on acquisition opportunities to increase its market share in Europe and elsewhere, something that was difficult as long as investors were worried about the U.S. litigation. “We think Mr. Frank’s efforts are quite meaningful to the sector,” he said.
Several other online gambling companies whose shares are traded in London, including 888 Holdings and Sportingbet, are still in talks with the U.S. Justice Department. Analysts expect them, along with companies like Bwin International, whose stock is traded in Vienna, to be involved in a round of consolidation in the industry — along with a possible eventual move back into the United States.
As they await developments in Washington, online gambling companies are looking for growth in Europe and Asia. Under pressure from regulators in Brussels, several European Union members, including France, Italy, Spain and Denmark, have been moving to legalize some kinds of online gambling, turning it into a regulated and taxed business. Britain was the first big European country to do so, in 2005.
Other countries, like Germany, Greece and the Netherlands, continue to hold out, though, in what the European Commission sees as an effort to protect government-sponsored gambling monopolies from private competition.
The commission in March published a report arguing that the United States was violating World Trade Organization rules by keeping out European online gambling companies, given that online betting on horse racing is permitted in the United States. But the commission said that it favored negotiations, rather than legal action, to end the dispute.
Also in March, however, the European Parliament adopted a separate measure supporting the right of individual E.U. member states to make their own rules on online gambling.
“It’s interesting that the European Commission is telling the U.S. it’s persecuting European companies when it can’t even get its own house sorted out,” Mr. Batram said.
(Credit: The New York Times)
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Switzerland to legalise Online Gambling - 24th April 2009
Online Gambling is still unregulated in many countries around the world, allowing players to play at illegal sites. However Switzerland are the latest nation to introduce a legal regulated framework, which will ensure sites operate securely and fairly.
The UK has one of the most impressive online gambling industries, with strict regulation and laws, resulting in impressive growth during the last 5 years. Hundreds of online bingo, poker, casino and betting sites operate in the UK under strict laws on advertising, finances and marketing.
Currently, only Lotto games and Sports betting products can be played online in Switzerland, however casino, bingo and poker games will now be made legal.
Some believe that the new legislation already needs to be changed, as operators outside the country will not be allowed to process payments at Swiss banks.
A quote from a Egaming review article, read how George Haeberling, a betting and gaming lawyer in Switzerland, said, “Practically, you can prohibit them from doing lots of advertising, but preventing the Swiss banks from processing payments from operators outside of the country is not going to be accepted. They may have to allow Swiss operators to go abroad.”
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The UK has one of the most impressive online gambling industries, with strict regulation and laws, resulting in impressive growth during the last 5 years. Hundreds of online bingo, poker, casino and betting sites operate in the UK under strict laws on advertising, finances and marketing.
Currently, only Lotto games and Sports betting products can be played online in Switzerland, however casino, bingo and poker games will now be made legal.
Some believe that the new legislation already needs to be changed, as operators outside the country will not be allowed to process payments at Swiss banks.
A quote from a Egaming review article, read how George Haeberling, a betting and gaming lawyer in Switzerland, said, “Practically, you can prohibit them from doing lots of advertising, but preventing the Swiss banks from processing payments from operators outside of the country is not going to be accepted. They may have to allow Swiss operators to go abroad.”
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Missing Lady Luck, by Paritosh Bansal - Reuters - 7th April 2009
There was a time not so long ago when “smart” investors and analysts believed that casinos were a sure bet, that gambling was recession proof, and that it was a vice people could not shake off even if money got tight. And so casino giant after casino giant started on mega projects that set to outdo each other and make glitzy Las Vegas, well, glitzier.
This recession is changing several of those plans. And despite the retirees putting their life savings into slot machines for fun in Atlantic City, casinos are taking a hit.
MGM Mirage, one of the biggest of them all, is trying to come up with funds amid a sharp downturn. The company, which is controlled by billionaire Kirk Kerkorian, is hoping to raise money to meet debt payments and also to fund CityCenter, a troubled project it jointly owns with Dubai World, in Las Vegas.
The No. 2 U.S. casino operator has hired Morgan Stanley to sell two resort-style properties - one each in Detroit and Biloxi, Mississippi. Los Angeles-based private equity firm Colony Capital is also considering an investment in the debt of the casino company.
Will Lady Luck smile again on Las Vegas? Chances are Sin City will look different again in a few years, with or without her.
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This recession is changing several of those plans. And despite the retirees putting their life savings into slot machines for fun in Atlantic City, casinos are taking a hit.
MGM Mirage, one of the biggest of them all, is trying to come up with funds amid a sharp downturn. The company, which is controlled by billionaire Kirk Kerkorian, is hoping to raise money to meet debt payments and also to fund CityCenter, a troubled project it jointly owns with Dubai World, in Las Vegas.
The No. 2 U.S. casino operator has hired Morgan Stanley to sell two resort-style properties - one each in Detroit and Biloxi, Mississippi. Los Angeles-based private equity firm Colony Capital is also considering an investment in the debt of the casino company.
Will Lady Luck smile again on Las Vegas? Chances are Sin City will look different again in a few years, with or without her.
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Monday, April 27, 2009
Macau Sands casino up for sale: report - 27th April 2009
Las Vegas Sands is considering selling one of its Macau casinos, a report said on Monday, as revenues plummet in the world's biggest gaming market.
It plans to put the Sands Macao up for about $US1.3 billion ($A1.8 billion) after failing to sell its luxury shopping centres in the southern Chinese territory, the South China Morning Post said without naming sources.
The report said Las Vegas Sands was considering selling the building and continuing to run the 21,274 sq m casino while paying the new landlord rent based on performance.
Talks kicked off last week, the daily said, as the company could not find a buyer for the shopping centres attached to the Venetian and Four Seasons resorts because the $US1 billion ($A1.39 billion) asking price was considered too high.
"It was kind of, 'OK then, if you don't want the malls, do you want the Sands?'," an unnamed source was quoted as saying. It said the source confirmed the company's gaming licence was not up for sale.
A spokesman for the US-based company declined to comment on a potential sale of the Sands Macao, the territory's first foreign-owned casino, the paper said.
The Sands Macao opened in 2004 and the company made back its initial investment in 12 months, the newspaper said, as gamers poured into the city.
However, Las Vegas Sands was in November forced to fire up to 11,000 mainly construction staff as it halted work at a new $US3.3 billion ($A4.58 billion), 6,400-room resort close to the Venetian.
The firm blamed a freezing of the global credit markets for the delay.
Macau has become a gambling paradise, with massive casinos springing up over the past few years, helping the city overtake the Las Vegas Strip in terms of revenue.
But income has been battered as gamblers tighten their belts amid the global slowdown, while visa restrictions placed by Beijing on Chinese visitors have also hit revenues.
Macau's casinos suffered a dismal second half of 2008, although the first three months of this year saw income rise for the first time in three quarters.
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It plans to put the Sands Macao up for about $US1.3 billion ($A1.8 billion) after failing to sell its luxury shopping centres in the southern Chinese territory, the South China Morning Post said without naming sources.
The report said Las Vegas Sands was considering selling the building and continuing to run the 21,274 sq m casino while paying the new landlord rent based on performance.
Talks kicked off last week, the daily said, as the company could not find a buyer for the shopping centres attached to the Venetian and Four Seasons resorts because the $US1 billion ($A1.39 billion) asking price was considered too high.
"It was kind of, 'OK then, if you don't want the malls, do you want the Sands?'," an unnamed source was quoted as saying. It said the source confirmed the company's gaming licence was not up for sale.
A spokesman for the US-based company declined to comment on a potential sale of the Sands Macao, the territory's first foreign-owned casino, the paper said.
The Sands Macao opened in 2004 and the company made back its initial investment in 12 months, the newspaper said, as gamers poured into the city.
However, Las Vegas Sands was in November forced to fire up to 11,000 mainly construction staff as it halted work at a new $US3.3 billion ($A4.58 billion), 6,400-room resort close to the Venetian.
The firm blamed a freezing of the global credit markets for the delay.
Macau has become a gambling paradise, with massive casinos springing up over the past few years, helping the city overtake the Las Vegas Strip in terms of revenue.
But income has been battered as gamblers tighten their belts amid the global slowdown, while visa restrictions placed by Beijing on Chinese visitors have also hit revenues.
Macau's casinos suffered a dismal second half of 2008, although the first three months of this year saw income rise for the first time in three quarters.
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Wednesday, April 22, 2009
Australian Pokies
50 Lions
Highly distinctive due to its appearance – it’s the first 50 line slot in the world – this means that you’ll always have 20 symbols showing on the screen rather than the more standard 15.
Indian Dreaming
Released in 1999, this was the first pokie in which the player could win without having lined up matching symbols – this is due to Aristocrats unique 243 config – in which symbols that are on neighbouring reels can win.
Where’s the Gold?
Where’s the Gold is ‘free game’ heaven – the player can win up to 20 free games simply by picking a character – this character becomes wild when your free games are initiated.
Show me the Money
Another bend on the free games feature, this game was released in 2000 and enables the player to choose between 5 different multipliers or spins – you can also pick up a mystery prize for getting wilds on the first five reels.
Queen of the Nile
This hugely popular slot has (rather unsurprisingly) an ancient Egyptian theme. It can be played up to 20 lines and the player can get up to fifteen game bonuses absolutely free. It’s remained at the top of the charts for nearly 12 years!
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Cleopatra
Cleopatra II
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Da Vinci Diamonds
The 50,000 Pyramid
Wheel Of Fortune
Goanna Gold
No Worries
Bush Telegraph
Tomb Raider
Highly distinctive due to its appearance – it’s the first 50 line slot in the world – this means that you’ll always have 20 symbols showing on the screen rather than the more standard 15.
Indian Dreaming
Released in 1999, this was the first pokie in which the player could win without having lined up matching symbols – this is due to Aristocrats unique 243 config – in which symbols that are on neighbouring reels can win.
Where’s the Gold?
Where’s the Gold is ‘free game’ heaven – the player can win up to 20 free games simply by picking a character – this character becomes wild when your free games are initiated.
Show me the Money
Another bend on the free games feature, this game was released in 2000 and enables the player to choose between 5 different multipliers or spins – you can also pick up a mystery prize for getting wilds on the first five reels.
Queen of the Nile
This hugely popular slot has (rather unsurprisingly) an ancient Egyptian theme. It can be played up to 20 lines and the player can get up to fifteen game bonuses absolutely free. It’s remained at the top of the charts for nearly 12 years!
Popular Online Pokies In Australia
Cleopatra
Cleopatra II
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Da Vinci Diamonds
The 50,000 Pyramid
Wheel Of Fortune
Goanna Gold
No Worries
Bush Telegraph
Tomb Raider
Monday, April 20, 2009
NZ's Sky City raising NZ$214 mln through issue - 21st April 2009
WELLINGTON, April 21 - New Zealand casino company Sky City Entertainment Ltd (SKC.NZ) is planning to raise around NZ$214 million ($118 million) through a share issue to beef up its balance sheet, the company said on on Tuesday.
It said it was looking to place 71 million ordinary shares to institutional investors at NZ$2.52 each, a discount of 11.6 percent on the stock's last price, before it was placed on a trading halt.
Sky said it would also offer up to NZ$35 million worth of new shares to existing shareholders, as well as offer small shareholders the chance to top up their holdings to avoid being diluted by the new issue.
The company said earnings for the third quarter was 4.3 percent ahead of last year and it was also on track to post a full year profit "comfortably" in the NZ$99 million-NZ$106 million range of analysts' forecasts.
A ban on new casinos in New Zealand has given the company a virtual monopoly, while in Australia it faces rivals such as Tabcorp Ltd. (TAH.AX) and Crown Ltd (CWN.AX).
The company, which owns or has an interest in five casinos in New Zealand and two in Australia, said revenue for the group in the January and February was just ahead of a year ago, on the back of growth in its Australian operations. ($1=NZ$1.81)
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It said it was looking to place 71 million ordinary shares to institutional investors at NZ$2.52 each, a discount of 11.6 percent on the stock's last price, before it was placed on a trading halt.
Sky said it would also offer up to NZ$35 million worth of new shares to existing shareholders, as well as offer small shareholders the chance to top up their holdings to avoid being diluted by the new issue.
The company said earnings for the third quarter was 4.3 percent ahead of last year and it was also on track to post a full year profit "comfortably" in the NZ$99 million-NZ$106 million range of analysts' forecasts.
A ban on new casinos in New Zealand has given the company a virtual monopoly, while in Australia it faces rivals such as Tabcorp Ltd. (TAH.AX) and Crown Ltd (CWN.AX).
The company, which owns or has an interest in five casinos in New Zealand and two in Australia, said revenue for the group in the January and February was just ahead of a year ago, on the back of growth in its Australian operations. ($1=NZ$1.81)
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Station Casinos sues Internet company over Web sites, by Steve Green - Las Vegas Sun - 20th April 2009
Station Casinos Inc. is suing an Internet company based in Panama that it says is infringing on trademarks Station owns for three of its Las Vegas hotel-casinos.
Station filed suit Friday in U.S. District Court in Las Vegas against Smart Answer, S.A.; and a woman living in Panama and associated with the company, Susana Gonzales.
The defendants could not immediately be reached for comment today.
The same defendants were sued by several MGM Mirage properties in the same court last year. After the defendants failed to respond to the complaint, MGM Mirage obtained an injunction and a $2.2 million judgment against them for infringing on the trademarks covering Bellagio, Circus Circus, Mandalay Bay, New York-New York and Treasure Island.
Jason Firth, an attorney with the intellectual property group at the Las Vegas law firm Brownstein Hyatt Farber Schreck, and other attorneys with that firm filed both lawsuits.
Firth said the MGM Mirage lawsuit succeeded in having the offending domain names shut down or transferred to MGM Mirage. But because of the expense involved and uncertainties about the potential for recovery, the plaintiff is not currently pursuing collection of the judgment, he said.
He said that besides the lawsuits, his firm is pursuing additional cases for Station Casinos and the Tropicana in Las Vegas through an international dispute resolution process.
Station's suit says the defendants are operating sites on the Internet with domain names that include the phrases "boulderstation'," "sunsetstation" and "palacestation" -- all allegedly infringing on Station's trademarks for its Boulder, Sunset and Palace Station properties.
These domain names, Station says, have also been linked to Web sites that further link to an online gambling Web site called "Golden Casino."
Firth said the business model of companies that register domain names by the thousands, capitalizing on trademarked names, is to generate revenue by directing Internet traffic to Web sites supported by advertisers.
The defendants in the Station suit, the complaint says, have violated a federal law outlawing cybersquatting by using domain names confusingly similar to Station's trademarks; and have violated a state law outlawing deceptive trade practices.
"Defendants' actions have disrupted or are intended to disrupt plaintiff's business by, among other things, diverting web users away from plaintiffs' Web sites and to the online gambling Web site defendants linked to the infringing domain names," Station alleged.
"Defendants knowingly made false representations as to an affiliation, connection and/or association with plaintiff by using marks identical and/or confusingly similar to plaintiff's marks and otherwise engaged in deceptive trade practices," Station's suit said.
Station's suit seeks an injunction barring the defendants from using its trademarks and unspecified damages. (Credit: Las Vegas Sun)
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Station filed suit Friday in U.S. District Court in Las Vegas against Smart Answer, S.A.; and a woman living in Panama and associated with the company, Susana Gonzales.
The defendants could not immediately be reached for comment today.
The same defendants were sued by several MGM Mirage properties in the same court last year. After the defendants failed to respond to the complaint, MGM Mirage obtained an injunction and a $2.2 million judgment against them for infringing on the trademarks covering Bellagio, Circus Circus, Mandalay Bay, New York-New York and Treasure Island.
Jason Firth, an attorney with the intellectual property group at the Las Vegas law firm Brownstein Hyatt Farber Schreck, and other attorneys with that firm filed both lawsuits.
Firth said the MGM Mirage lawsuit succeeded in having the offending domain names shut down or transferred to MGM Mirage. But because of the expense involved and uncertainties about the potential for recovery, the plaintiff is not currently pursuing collection of the judgment, he said.
He said that besides the lawsuits, his firm is pursuing additional cases for Station Casinos and the Tropicana in Las Vegas through an international dispute resolution process.
Station's suit says the defendants are operating sites on the Internet with domain names that include the phrases "boulderstation'," "sunsetstation" and "palacestation" -- all allegedly infringing on Station's trademarks for its Boulder, Sunset and Palace Station properties.
These domain names, Station says, have also been linked to Web sites that further link to an online gambling Web site called "Golden Casino."
Firth said the business model of companies that register domain names by the thousands, capitalizing on trademarked names, is to generate revenue by directing Internet traffic to Web sites supported by advertisers.
The defendants in the Station suit, the complaint says, have violated a federal law outlawing cybersquatting by using domain names confusingly similar to Station's trademarks; and have violated a state law outlawing deceptive trade practices.
"Defendants' actions have disrupted or are intended to disrupt plaintiff's business by, among other things, diverting web users away from plaintiffs' Web sites and to the online gambling Web site defendants linked to the infringing domain names," Station alleged.
"Defendants knowingly made false representations as to an affiliation, connection and/or association with plaintiff by using marks identical and/or confusingly similar to plaintiff's marks and otherwise engaged in deceptive trade practices," Station's suit said.
Station's suit seeks an injunction barring the defendants from using its trademarks and unspecified damages. (Credit: Las Vegas Sun)
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Sunday, April 19, 2009
Melco Crown CEO Says ‘Pressure Is On’ With New Casino (Update2), by Paul Gordon and Chia-Peck Wong - 14th April 2009
April 14 (Bloomberg) -- Melco Crown Entertainment Ltd. Chairman Lawrence Ho, son of Macau gambling tycoon Stanley Ho, said it’s “crucial” that its $2.1 billion City of Dreams casino defies the global recession and has a successful opening.
“We know the pressure is on us,” Ho said today in a Bloomberg Television interview in Macau. “The success of it will have major implications.”
Melco Crown, a joint venture between 32-year-old Ho and Australian billionaire James Packer, will open the casino in June, braving the worst global slump since World War Two and Chinese curbs on travel to Macau, the world’s biggest gambling hub. City of Dreams is located on Macau’s Cotai Strip, where Las Vegas Sands Corp. suspended construction of its partially-built gaming properties in November as credit markets seized up.
“In terms of China’s political matters, these are definitely out of our hands,” Ho said. “The bleakest days of the industry are past us, which was the fourth quarter.”
Melco Crown dropped 19 cents, or 4 percent, to $4.59 at 4:29 p.m. New York time in Nasdaq Stock Market composite trading. The company plans to raise as much as $400 million selling American Depositary Shares, it said separately in a regulatory filing yesterday.
Gambling revenue in Macau, a former Portuguese colony that is the only region in China where casinos are legal, has fallen for the past year after the mainland tightened visa rules for visitors to the city. The decline in arrivals from China has compounded the effects of the global slowdown, which has dampened demand from Taiwan and South Korea.
China Cools
Growth in China, the world’s third-biggest economy, probably cooled to the slowest in almost 10 years in the first quarter, as a global recession led to a collapse in exports. Gross domestic product grew 6.3 percent from a year earlier, according to the median estimate of 12 economists surveyed by Bloomberg News.
Macau’s economy shrank 7.6 percent in the fourth quarter of 2008 as a result, the first contraction since June 2003, according to figures compiled by Bloomberg.
Still, the decline in monthly casino revenue has moderated, dropping 6 percent in March from a year earlier to 9.5 billion patacas ($1.2 billion), from a 15.5 percent fall in February and 17 percent decrease in January, figures from the Portuguese news agency Lusa show.
Hotel occupancy rates in February also fell 2 percent from a year earlier, the smallest drop in seven months, figures from the Macau Statistics and Census Service show.
Government officials from the southern Chinese province of Guangdong, Macau and Hong Kong met in February, agreeing to enact measures allowing more mainland residents to visit the two cities. Guangdong may allow its residents to travel to Macau and Hong Kong more frequently in a policy that might be put in place before China’s week-long Labor Day holiday in May, Ming Pao reported on Feb. 20. (Credit: Bloomberg)
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“We know the pressure is on us,” Ho said today in a Bloomberg Television interview in Macau. “The success of it will have major implications.”
Melco Crown, a joint venture between 32-year-old Ho and Australian billionaire James Packer, will open the casino in June, braving the worst global slump since World War Two and Chinese curbs on travel to Macau, the world’s biggest gambling hub. City of Dreams is located on Macau’s Cotai Strip, where Las Vegas Sands Corp. suspended construction of its partially-built gaming properties in November as credit markets seized up.
“In terms of China’s political matters, these are definitely out of our hands,” Ho said. “The bleakest days of the industry are past us, which was the fourth quarter.”
Melco Crown dropped 19 cents, or 4 percent, to $4.59 at 4:29 p.m. New York time in Nasdaq Stock Market composite trading. The company plans to raise as much as $400 million selling American Depositary Shares, it said separately in a regulatory filing yesterday.
Gambling revenue in Macau, a former Portuguese colony that is the only region in China where casinos are legal, has fallen for the past year after the mainland tightened visa rules for visitors to the city. The decline in arrivals from China has compounded the effects of the global slowdown, which has dampened demand from Taiwan and South Korea.
China Cools
Growth in China, the world’s third-biggest economy, probably cooled to the slowest in almost 10 years in the first quarter, as a global recession led to a collapse in exports. Gross domestic product grew 6.3 percent from a year earlier, according to the median estimate of 12 economists surveyed by Bloomberg News.
Macau’s economy shrank 7.6 percent in the fourth quarter of 2008 as a result, the first contraction since June 2003, according to figures compiled by Bloomberg.
Still, the decline in monthly casino revenue has moderated, dropping 6 percent in March from a year earlier to 9.5 billion patacas ($1.2 billion), from a 15.5 percent fall in February and 17 percent decrease in January, figures from the Portuguese news agency Lusa show.
Hotel occupancy rates in February also fell 2 percent from a year earlier, the smallest drop in seven months, figures from the Macau Statistics and Census Service show.
Government officials from the southern Chinese province of Guangdong, Macau and Hong Kong met in February, agreeing to enact measures allowing more mainland residents to visit the two cities. Guangdong may allow its residents to travel to Macau and Hong Kong more frequently in a policy that might be put in place before China’s week-long Labor Day holiday in May, Ming Pao reported on Feb. 20. (Credit: Bloomberg)
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Packer bets $3b Macau casino will come up trumps, by Vanda Carson - The Sydney Morning Herald - 20th April 2009
Some of the croupiers shuffling cards at James Packer's huge new casino in Macau will don nose rings and wear blue wigs, as part of a punk-rock theme to attract wealthy Asian gamblers and holidaymakers.
The croupiers will work on tables at the Hard Rock Cafe-themed casino, itself part of the $US2.1 billion ($3.03 billion) City Of Dreams casino development in Macau.
While the popularity of Hard Rock-themed restaurants has waned in Australia, they are popular in Asia and there are three Hard Rock casinos in the US.
The final fit-out of the City Of Dreams project, owned by Mr Packer's joint-venture company, Melco Crown Entertainment, has begun after construction ended earlier this month.
The 520 gaming tables and 1350 poker machines are expected to be open for business in the first week of June, provided several local authorities give an occupancy permit for the site.
The venture will also include a 380-room Hard Rock-themed hotel and a Crown Towers hotel.
After a tour of the project with reporters last week, Mr Packer's co-chairman, Lawrence Ho, conceded there was a lot riding on the success of the project.
He told Bloomberg it was "crucial" that the casino defied the global recession and had a successful opening.
"We know the pressure is on us," Mr Ho said.
"The success of it will have major implications.
"The bleakest days of the industry are past us, which was the fourth quarter."
Mr Packer is also relying on the success of City Of Dreams to vindicate his decision to invest billions of dollars of his own and Crown shareholders' funds in the venture. Crown has a 37 per cent stake in Melco Crown.
The casino is opening in the midst of both the worst global slump since World War II and as the Chinese Government tightens restrictions on the number of visits its citizens can make.
Last week Melco Crown said it had just $US50.3 million in cash remaining from a $US1.75 billion debt facility for the project as at the end of March.
It announced plans to tap the market for a further $US400 million to bolster its balance sheet. It is not known whether Crown will take up its share.
Chinese who visit Macau mostly gamble on credit, using so-called junket operators because they can take only 20,000-yuan ($US3000) plus $US5000 with them.
The company warned it may not be able to recover all of the generous loans it makes to its mostly Chinese VIP gamblers.
Last week high-level representatives of Melco Crown and its five rival casino licence-holders met to discuss a proposed cap on how much commission casinos can pay to the junket operators.
with Bloomberg (Credit: The Sydney Morning Herald)
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The croupiers will work on tables at the Hard Rock Cafe-themed casino, itself part of the $US2.1 billion ($3.03 billion) City Of Dreams casino development in Macau.
While the popularity of Hard Rock-themed restaurants has waned in Australia, they are popular in Asia and there are three Hard Rock casinos in the US.
The final fit-out of the City Of Dreams project, owned by Mr Packer's joint-venture company, Melco Crown Entertainment, has begun after construction ended earlier this month.
The 520 gaming tables and 1350 poker machines are expected to be open for business in the first week of June, provided several local authorities give an occupancy permit for the site.
The venture will also include a 380-room Hard Rock-themed hotel and a Crown Towers hotel.
After a tour of the project with reporters last week, Mr Packer's co-chairman, Lawrence Ho, conceded there was a lot riding on the success of the project.
He told Bloomberg it was "crucial" that the casino defied the global recession and had a successful opening.
"We know the pressure is on us," Mr Ho said.
"The success of it will have major implications.
"The bleakest days of the industry are past us, which was the fourth quarter."
Mr Packer is also relying on the success of City Of Dreams to vindicate his decision to invest billions of dollars of his own and Crown shareholders' funds in the venture. Crown has a 37 per cent stake in Melco Crown.
The casino is opening in the midst of both the worst global slump since World War II and as the Chinese Government tightens restrictions on the number of visits its citizens can make.
Last week Melco Crown said it had just $US50.3 million in cash remaining from a $US1.75 billion debt facility for the project as at the end of March.
It announced plans to tap the market for a further $US400 million to bolster its balance sheet. It is not known whether Crown will take up its share.
Chinese who visit Macau mostly gamble on credit, using so-called junket operators because they can take only 20,000-yuan ($US3000) plus $US5000 with them.
The company warned it may not be able to recover all of the generous loans it makes to its mostly Chinese VIP gamblers.
Last week high-level representatives of Melco Crown and its five rival casino licence-holders met to discuss a proposed cap on how much commission casinos can pay to the junket operators.
with Bloomberg (Credit: The Sydney Morning Herald)
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Tuesday, April 14, 2009
Tuesday, April 07, 2009
PartyGaming agrees deal with US - 7th April 2009
PartyGaming has entered into a Non-Prosecution Agreement with the US Attorney's Office for the Southern District of New York.
Under the terms of the Non-Prosecution Agreement, the USAO will not prosecute PartyGaming or any of its subsidiaries for providing internet gambling services to customers in the US prior to the enactment of the Unlawful Internet Gambling Enforcement Act in 2006.
As part of the agreement, the company has accepted a Statement of Facts regarding its business activities prior to the enactment of the UIGEA and has agreed to pay $105m, in semi-annual instalments over a period ending on September 30, 2012. Such payments will be made from the group’s existing financial resources.
“The agreement with the US authorities will be welcomed by the majority of those in the online industry as a break from the past with the opportunity now to move forward," said Warwick Bartlett, chief executive of Global Betting and Gaming Consultants.
“Some operators, however, will have misgivings. The admission of guilt is unlikely to rest easy with the 'Brit' companies who have traded from a country where gambling is entirely legal. As far as they are concerned, they have never done anything wrong.
“There is also a measure of hypocrisy at play - on the one hand the US has heaped a heavy fine on PartyGaming and yet sometime this year Congressman Frank will lay a Bill down that could lead to legalisation of online poker. So the sinners have been found guilty and redeemed, all in one year.
“The moot question is that after all of this will the UK-listed companies be granted US licences in the future? The US the land of the free? It is if you are American."
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Under the terms of the Non-Prosecution Agreement, the USAO will not prosecute PartyGaming or any of its subsidiaries for providing internet gambling services to customers in the US prior to the enactment of the Unlawful Internet Gambling Enforcement Act in 2006.
As part of the agreement, the company has accepted a Statement of Facts regarding its business activities prior to the enactment of the UIGEA and has agreed to pay $105m, in semi-annual instalments over a period ending on September 30, 2012. Such payments will be made from the group’s existing financial resources.
“The agreement with the US authorities will be welcomed by the majority of those in the online industry as a break from the past with the opportunity now to move forward," said Warwick Bartlett, chief executive of Global Betting and Gaming Consultants.
“Some operators, however, will have misgivings. The admission of guilt is unlikely to rest easy with the 'Brit' companies who have traded from a country where gambling is entirely legal. As far as they are concerned, they have never done anything wrong.
“There is also a measure of hypocrisy at play - on the one hand the US has heaped a heavy fine on PartyGaming and yet sometime this year Congressman Frank will lay a Bill down that could lead to legalisation of online poker. So the sinners have been found guilty and redeemed, all in one year.
“The moot question is that after all of this will the UK-listed companies be granted US licences in the future? The US the land of the free? It is if you are American."
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Virgin king and Crown Casino king talk shop and Media Man makes a play
Media Man Australia and Casino News Media report Virgin's iGaming arm, Virgin Games aka Virgin Casino, is enjoying a huge comeback which can be attributed to a number of reasons.
New Virgin Games players now receive a 100% sign up bonus, which is of course double the original 50%!
New Virgin Games online slot releases include Battleship - Search & Destroy and MegaJackpots Cleopatra®. Cleopatra and Cleopatra II have long been the most popular games available on Virgin Casino and the merging with the mega popular MegaJackpots® has been an international big hit. Rumours are circulating that Dungeons and Dragons: Fortress of Fortunes will also soon be added to the already awesome Virgin Games portfolio.
Virgin boss, Richard Branson was recently spotted talking shop (or was it small talk? .. unlikely) at the Melbourne Formula One Grand Prix with none other than Australian casino king, James Packer, head of Crown Casino and a number of other casino and lifestyle businesses.
Media and iGaming analyst, Greg Tingle, has long gone on record starting that these two gentlemen might do well to get their heads together and offer a 5 star plus package for the casino whales of the world. They could pick up where Donald Trump dropped the ball. Branson's V Australia and his Virgin empire coupled with Packer's group of casinos in Melbourne, Perth, Macau, Las Vegas and elsewhere, would appear to be an excellent match. Branson is of course a fan of news media coverage whilst Packer has proved to be more media shy. Perhaps that may change if the two were to team up on a win - win venture combining the best of air travel, casinos and accommodation. It could be packaged as an ultimate travel and lifestyle experience for the whale who demands the best! The next best thing to space travel, another dynamic offering from Virgin Enterprises Limited. Tingle has wasted no time in showcasing the photo of Branson and Packer talking shop on the Media Man Australia website and has advised "We're keen to be pro actively involved in a Virgin - Crown campaign, given our proven track record with Virgin Games, Virgin Unite, air travel bookings and casino lifestyle campaigns".
Tingle is the former manager and agent for Crown Casino poker trainer and commentary, Keith "Bendigo" Sloan, so stranger things have happened. In what appears to be a strategic move Tingle has also registered Casino Travel Tourism and looks to be building his own World Casino Directory, a move tipped to compete with the original world famous online casino portal.
More details as they come to hand.
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New Virgin Games players now receive a 100% sign up bonus, which is of course double the original 50%!
New Virgin Games online slot releases include Battleship - Search & Destroy and MegaJackpots Cleopatra®. Cleopatra and Cleopatra II have long been the most popular games available on Virgin Casino and the merging with the mega popular MegaJackpots® has been an international big hit. Rumours are circulating that Dungeons and Dragons: Fortress of Fortunes will also soon be added to the already awesome Virgin Games portfolio.
Virgin boss, Richard Branson was recently spotted talking shop (or was it small talk? .. unlikely) at the Melbourne Formula One Grand Prix with none other than Australian casino king, James Packer, head of Crown Casino and a number of other casino and lifestyle businesses.
Media and iGaming analyst, Greg Tingle, has long gone on record starting that these two gentlemen might do well to get their heads together and offer a 5 star plus package for the casino whales of the world. They could pick up where Donald Trump dropped the ball. Branson's V Australia and his Virgin empire coupled with Packer's group of casinos in Melbourne, Perth, Macau, Las Vegas and elsewhere, would appear to be an excellent match. Branson is of course a fan of news media coverage whilst Packer has proved to be more media shy. Perhaps that may change if the two were to team up on a win - win venture combining the best of air travel, casinos and accommodation. It could be packaged as an ultimate travel and lifestyle experience for the whale who demands the best! The next best thing to space travel, another dynamic offering from Virgin Enterprises Limited. Tingle has wasted no time in showcasing the photo of Branson and Packer talking shop on the Media Man Australia website and has advised "We're keen to be pro actively involved in a Virgin - Crown campaign, given our proven track record with Virgin Games, Virgin Unite, air travel bookings and casino lifestyle campaigns".
Tingle is the former manager and agent for Crown Casino poker trainer and commentary, Keith "Bendigo" Sloan, so stranger things have happened. In what appears to be a strategic move Tingle has also registered Casino Travel Tourism and looks to be building his own World Casino Directory, a move tipped to compete with the original world famous online casino portal.
More details as they come to hand.
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Wednesday, April 01, 2009
Saturday, March 28, 2009
Australians are Biggest Gamblers in the World, by Danielle Almond - Gambling Online Magazine - 27th March 2009
A Canadian report has recently discovered that Australia is the biggest nation for gambling in the world. The report showed that Aussies and New Zealanders spend an average of $435 online every month.
The report has obviously been seen by some as more ammunition for online gambling to be banned in the country as it allows punters to use credit. This is to come as sad news to many Australians as added to this there have been other reports that the government is anticipated to be the next to ban online poker rooms.
20,000 adults were surveyed for the study which was conducted by the University of Lethbridge professors Robert Wood and Robert Williams.
Professor Wood said, “Australian Internet gamblers do report high average monthly gambling spending than the overall average we observed among our sample. This would suggest that Australian Internet gambler do indeed spend more on gambling compared with Internet gamblers from most other countries.”
Australian gambler, Greg Tingle, said, “This report confirms my suspicions and my own findings. Online gambling is red hot in the land down under. I think this officially marks a gold rush for the promised land.” Those who believe these finding should bring about a ban on gambling include Gerard Byre, the Salvation Army’s problem-gambling service co-coordinator, who said, “We would encourage bans on any capacity to gamble on credit and believe the Federal Government should take a lead on this. People are certainly reporting more and more sage of online gaming. We’ve got a culture in NSW where gambling is the state past time.” (Credit: Gambling Online Magazine)
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The report has obviously been seen by some as more ammunition for online gambling to be banned in the country as it allows punters to use credit. This is to come as sad news to many Australians as added to this there have been other reports that the government is anticipated to be the next to ban online poker rooms.
20,000 adults were surveyed for the study which was conducted by the University of Lethbridge professors Robert Wood and Robert Williams.
Professor Wood said, “Australian Internet gamblers do report high average monthly gambling spending than the overall average we observed among our sample. This would suggest that Australian Internet gambler do indeed spend more on gambling compared with Internet gamblers from most other countries.”
Australian gambler, Greg Tingle, said, “This report confirms my suspicions and my own findings. Online gambling is red hot in the land down under. I think this officially marks a gold rush for the promised land.” Those who believe these finding should bring about a ban on gambling include Gerard Byre, the Salvation Army’s problem-gambling service co-coordinator, who said, “We would encourage bans on any capacity to gamble on credit and believe the Federal Government should take a lead on this. People are certainly reporting more and more sage of online gaming. We’ve got a culture in NSW where gambling is the state past time.” (Credit: Gambling Online Magazine)
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Friday, March 27, 2009
International Internet Betting Laws
It may seem difficult but it is important that all citizens across the world stay updated with Internet Betting laws. Below you will find what we understand as the laws to online betting in certain areas of the world.
US Internet Betting Laws
The United States of America has the most ambiguous online casino laws in the world. They have passed laws to ban banks from allowing transactions that are deemed illegal, but no one has any idea what the United States considers legal or illegal. Currently, all US citizens are advised to check with local laws before gambling online. Even the online casinos aren't sure if you should be allowed to bet at their site. Some companies don't allow US players, others allow some US players, and some could care less where a player is from.
UK Internet Casino Laws
The UK is the first major country to completely legalize and regulate online gambling. The Gambling Act of 2005 was passed while Prime Minister Tony Blair was in office. Blair had a flair for expanding gambling, but when Gordon Brown took over as Prime Minister in the UK he provided a tax structure that was so high that most online casino companies were not urged to relocate to England. Today, all web branded casinos that are in a UK approved jurisdiction are legal for UK citizens to play at.
International Online Betting Laws
As the world gets deeper into the 21st century and the Internet becomes a more common cultural tool more and more countries are realizing the reality that is Internet gambling. Currently, Spain, Italy, Germany and other countries have moved to legalize and regulate the industry, while few still look to protect their homeland gaming monopolies. It is extremely important to check all local, state, and federal laws before participating in any online gambling activities.
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US Internet Betting Laws
The United States of America has the most ambiguous online casino laws in the world. They have passed laws to ban banks from allowing transactions that are deemed illegal, but no one has any idea what the United States considers legal or illegal. Currently, all US citizens are advised to check with local laws before gambling online. Even the online casinos aren't sure if you should be allowed to bet at their site. Some companies don't allow US players, others allow some US players, and some could care less where a player is from.
UK Internet Casino Laws
The UK is the first major country to completely legalize and regulate online gambling. The Gambling Act of 2005 was passed while Prime Minister Tony Blair was in office. Blair had a flair for expanding gambling, but when Gordon Brown took over as Prime Minister in the UK he provided a tax structure that was so high that most online casino companies were not urged to relocate to England. Today, all web branded casinos that are in a UK approved jurisdiction are legal for UK citizens to play at.
International Online Betting Laws
As the world gets deeper into the 21st century and the Internet becomes a more common cultural tool more and more countries are realizing the reality that is Internet gambling. Currently, Spain, Italy, Germany and other countries have moved to legalize and regulate the industry, while few still look to protect their homeland gaming monopolies. It is extremely important to check all local, state, and federal laws before participating in any online gambling activities.
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Thursday, March 26, 2009
Australians Are The Biggest Gamblers In The World - Gambling911 - 26th March 2009
A report out of Canada paints Australians as the biggest gambling degenerates in the world. The report, obtained exclusively by The Sunday Telegraph, shows Australian and New Zealand gamblers spend an average of $435 online every month.
This is five times what punters put through poker machines and has prompted renewed calls for bans on online gambling, which allows people to bet using credit.
The study also found the prevalence of problem gambling was up to four times higher for Internet gamblers than those who used traditional means such as poker machines.
More than 20,000 adults from 105 countries were surveyed for the study, conducted by University of Lethbridge professors Robert Wood and Robert Williams.
"Australian Internet gamblers do report higher average monthly gambling spending than the overall average we observed among our sample," Prof Wood said.
"This would suggest that Australian Internet gamblers do indeed spend more on gambling compared with Internet gamblers from most other countries."
Australian Media Man for Gambling911.com, Greg Tingle, rejoiced at the news.
"Ahoy. This report confirms my suspicions and my own findings... online gambling is red hot in the land down under... Australia. I think this officially marks a gold rush for the promised land. Our phone hasn't stopped ringing, and there's a constant stream of overseas enquires.
"The Australian government's ACMA website blacklist doesn't appear to have slowed down those seeking to make a killing down under. We're seen a trend in more .net ventures taking off and online casinos are generally keeping the "play for free" or "play for money" option. Australian newsrooms are also starting to run more stories regarding the online gambling sector and most are surprisingly balanced stories. We're gladly assisting them on (some) of the inner workings of the online casino industry." (Credit" Gambling911)
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This is five times what punters put through poker machines and has prompted renewed calls for bans on online gambling, which allows people to bet using credit.
The study also found the prevalence of problem gambling was up to four times higher for Internet gamblers than those who used traditional means such as poker machines.
More than 20,000 adults from 105 countries were surveyed for the study, conducted by University of Lethbridge professors Robert Wood and Robert Williams.
"Australian Internet gamblers do report higher average monthly gambling spending than the overall average we observed among our sample," Prof Wood said.
"This would suggest that Australian Internet gamblers do indeed spend more on gambling compared with Internet gamblers from most other countries."
Australian Media Man for Gambling911.com, Greg Tingle, rejoiced at the news.
"Ahoy. This report confirms my suspicions and my own findings... online gambling is red hot in the land down under... Australia. I think this officially marks a gold rush for the promised land. Our phone hasn't stopped ringing, and there's a constant stream of overseas enquires.
"The Australian government's ACMA website blacklist doesn't appear to have slowed down those seeking to make a killing down under. We're seen a trend in more .net ventures taking off and online casinos are generally keeping the "play for free" or "play for money" option. Australian newsrooms are also starting to run more stories regarding the online gambling sector and most are surprisingly balanced stories. We're gladly assisting them on (some) of the inner workings of the online casino industry." (Credit" Gambling911)
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