CASINOS THAT ACCEPT US PLAYERS NOT ACCEPTED AT CASINOMEISTER
October 19, 2006
Posted by Sue in : General , add a comment
iGAMING BUSINESS
16 October 2006
Casinomeister says the new U.S. legal climate presents ‘definite risks’
One of the longest established and most successful information portals in the online gambling industry, Casinomeister.com has reluctantly decided to discontinue promoting online operations that accept U.S. bets.
The portalmaster, Bryan Bailey says that the move is a consequence of the new Unlawful Internet Gambling Enforcement Act which attacks U.S. financial channels used to fund online gambling but also contains confusing provisions regarding information sites and possible interference with ISPs.
‘Last week was a tough week. Tough but informative,’ Bailey says in announcing that he has had to consult with experts before reluctantly making a ‘command decision’ to stop listing online casinos that accept bets from U.S. players.
‘One thing for sure, there is a very *big* problem in the US when it comes to dealing with online casinos and poker rooms,’ says Bailey, who is based in Germany. ‘It’s a mess and no one has any answers on how to deal with this. There is also a definite risk to anyone who is continuing to accept US bets. A number of casinos have decided to block players from certain jurisdictions in the States – but even this is not clear.
‘So, a command decision was made: *Casinos that accept bets from US based players will not be listed at Casinomeister. *’
Bailey goes on to assure his many American members that whilst his accredited online casino links will shrink in the short term, players will remain welcome on the site.
‘Everything else is business as usual,’ he says, highlighting the site’s popular dispute resolution facility, active forum, current industry news pages, webcast and newsletter. He also hints that Skill Games [which are unaffected by the US law] may be joining the Casinomeister landscape.
Bailey concludes by telling U.S. players: ‘You may need to venture out of your house and check out the local poker room dives in your neighborhood, or anticipate a freaky road-trip to Vegas or some nearby Indian reservation. But if you’re looking to join casinos from here, sorry – I can’t help you out.
‘Sorry that it has to be this way, I hope you understand.’
The operator reaction to the Casinomeister decision was fast and innovative. A number of the casino groups/casinos that were removed are putting together casino sites that will accept all non-US players, and then they will be readmitted to the accredited section.
READ AT iGAMING BUSINESS
NEWS FROM WAGER JUNCTION ON COURSE OF ACTION
October 13, 2006
Posted by Sue in : General , add a comment
13th October 2006
The bill has now been signed and its all go go go on our end. We have a number of announcements to make so please read the mailer.
Our partners have decided on a course of action in regards to the Unlawful Internet Gambling Enforcement Act bill and I have detailed as to what we are implementing over the next few days.
We are taking the following action :
As of Monday the 16th of October our group will be forced to block all play and registration from the following States : Illinois ,Indiana , Louisiana , Michigan , Nevada ,Oregon , South Dakota, Washington and Wisconsin.
From Monday the 16th of October the following partners will not be accepting NEW players but will allow existing players from the United States to continue playing.
King Solomon’s Casino
Geisha Lounge Casino
Grand Aces Casino
All other partners continue to accept New Partners and have as of yet to give us a cut of date. I will provide a date if we receive one in advance of any cut off date.
I must urge you in any event if you have a Windows affiliate account to change the creative that you have for King Solomon’s ,Geisha Lounge and Grand Aces Casino to Windows Casino.
Please note that nothing else is affected .Payments will be made as per usual on the 15th of each month or first working day thereafter for the full amount that you have earned with us. I look forward to expanding our market share in co operation with you in the United States.
Vegas Partner Affiliates May Block Limited Number of States
October 11, 2006
Posted by Sue in : General , add a comment
UNLAWFUL INTERNET GAMBLING ENFORCEMENT ACT
You have no doubt heard media reports concerning new gaming legislation in the US and the Unlawful Internet Gambling Enforcement Act.
Pending the signing of new laws in congress, we may have to block play from various states from 13 October 2006:
Illinois
Michigan
Wisconsin
Washington
Indiana
Nevada
Oregon
Louisiana
South Dakota
If you are from one of the above States, please contact us.
We are busy interpreting the laws and are investigating solutions. If you have any questions, do not hesitate to contact me.
Antoinette & the Vegas Partner Affiliate Team
VIP PROFITS – ‘NOT SO FAST…’
October 10, 2006
Posted by Sue in : General , add a comment
According to Mário of VIP PROFITS, the information regarding Leisure and Gaming which stated that they would stop taking bets from US customers and would focus solely on its existing UK and Italian businesses “came as a surprise, but NO this is not official. VIP Profits merchants are still taking bets and the coming days will determine what will really happen.”
MORE COMPANIES JOIN ONLINE GAMBLING EXODUS
October 10, 2006
Posted by Sue in : General , add a comment
The passing of the Unlawful Internet Gambling Enforcement Act of 2006, which makes unlawful the receipt by a gambling business of proceeds or monies in connection with unlawful internet gambling, has led to three more companies announcing plans to exit the US facing online gambling market.
Leisure & Gaming plc a holding company focused on the interactive betting and gaming sector operates a number of online sports betting and casino brands. On 28th June 2005, L&G completed the acquisition of VIP for an initial consideration of £18.7m representing a 6.3x multiple on 2004 audited net profit of £2.9m (US$5.6). The acquisition gave L&Gcontrol over VIPsports, VIPpoker, VIPhorses, BetGameDay and FairDeal.
In November 2005, the company also acquired Nine.Com for an initial consideration of $36.0 million, split $21.6 million in cash and $14.4 million in shares, and deferred consideration of up to $21.1 million dependent upon the profitability of Nine.com for each of the years ending 31 December 2006, 2007 and 2008; and, English Harbour, for an initial consideration of $16.5 million, split $8.25 million in cash and $8.25 million in shares, and deferred consideration of up to $6.75 million dependent upon the profitability of English Harbour for each of the years ending 31 December 2006 and 2007.
On October 10 Leisure & Gaming made the following announcement to the London Stock Market;
“Following the passing in the USA of the Unlawful Internet Gambling Enforcement Act of 2006 (the ‘Legislation’) and after extensive discussions with our lawyers, bankers and other advisers, it is the view of the Board that following enactment of the Legislation it will no longer be appropriate for the Company to serve US-based customers and that the Company should focus solely on its existing UK and Italian businesses. As a result the Company is undertaking a strategic review in order to decide whether to suspend, close or sell its US operations. In particular, the Company has received a number of approaches and is at a preliminary stage in progressing discussions which may or may not lead to an offer for the Company’s US-facing businesses. The Board is actively exploring the optimal route to maximise value for the Company’s shareholders.”
FireOne, a provider of payment processing services for the online gaming recently announces its results for the second quarter and half year ended 30 June 2006. Revenue at the company had increased by 42% to $24.8 million in the second quarter of 2006, and by 54% over the first half of 2005 to $50.0 million in the first half of 2006. Gross profit, defined as revenue less transaction processing costs,improved as a percentage of revenues to 67.3% in the second quarter of 2006 from 58.9% in the second quarter of 2005. For the first half of 2006, gross profit improved to 65.8% from 58.5% in the first half of 2005.
On October 10 FireOne made the following announcement to the London Stock Market;
“On 2 October 2006, the Company made an announcement regarding the passing of the Unlawful Internet Gambling Enforcement Act of 2006 by the United States Congress. The Company today announces that following the approval of the Act by the President of the United States, it will immediately cease to process settlement transactions originating from United States consumers that may be viewed as being related to online gambling. As previously announced, upon becoming law, the Act will have a significant negative impact on the business and results of operations of the Company, and, consequently, the Company has embarked upon a restructuring of its operations and cost base. The Company will continue to offer its multi-currency credit and debit card and FirePay electronic wallet processing to the online gambling industry originating from non-U.S. consumers and not prohibited by the Act, and will consider additional card-not-present payment processing opportunities outside of online gambling.”
Fairground Gaming Holdings, which sells itself as “acting as a consolidator of the fragmented online gaming sector,” acquired for The Spin Palace Group, which comprised Spin Palace and Piggs Casino, for US $66.8m in June 2006.
On October 10 Fairground Gaming made the following announcement to the London Stock Market;
“Following the company’s announcement on 2 October 2006, Fairground Gaming has been advised that the Safe Ports Act, which contains the Unlawful Internet Gambling Enforcement Act, will shortly receive Presidential approval and be passed into law. This is the first US Federal measure to explicitly address internet gaming and the Board has thus concluded that it is now appropriate to suspend participation by US-based customers in the company’s casino and poker activities. This suspension will be implemented immediately upon this legislation taking effect.”
In response to the announcements, shares in Fairground Holdings were down 30% at 11am in London; shares in FireOne were down 25%, whilst Lesiure & Gamings shares bucked the trend trading up 10%, presumbaly on the grounds that the company has received a number of offers for its US facing gambling websites.
THIS ARTICLE CAN BE FOUND AT BETTINGMARKET.COM
