• News

    • 09 October 2006

      ONLINE CASINO WORLD GAMING ASKED FOR SHARES TO BE SUSPENDED

      IRELAND ON-LINE 09/10/2006 – 12:11:24 Shares in online casino World Gaming were suspended today as the fall-out from new anti-gambling legislation in the United States continued. World Gaming said it asked for its shares to be suspended “with immediate effect due to a fundamental uncertainty over its ability to continue trading”. It followed the shock approval of new laws effectively banning online gambling in the US which sent World Gaming shares tumbling 92% last week.

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    • 09 October 2006

      NO MORE NET GAMBLING?

      THE MINNESOTA DAILY October 9, 2006 A bill outlawing online gambling is awaiting approval by the president. By JP Leider “The Unlawful Internet Gambling Enforcement Act of 2006 could stop the meteoric rise of online poker. The act was tacked onto the Security and Accountability for Every Port Act in late September and passed through Congress shortly thereafter. President George W. Bush is expected to sign the controversial act.” ….

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    • 09 October 2006

      BETTING ON DOUBLE STANDARDS IN THE US

      FINANCIAL NEWS / Online US Grant Clelland, Deputy Editor 09 Oct 2006 When a continental European country takes action to protect its industry from external competition, it is called economic nationalism. When the US does the same, we are meant to believe it is about preserving the fabric of society.

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    • 09 October 2006

      GAMBLING WITH FREEDOM

      THE WASHINGTON TIMES By Clyde Wayne Crews Jr./ Achim Schmillen October 9, 2006 Your after-tax income belongs to you. You are free to spend it, invest it, waste it, burn it, or tithe it away — and none of that is any politicians’ business. But if some lawmakers have their way, soon you won’t be able to gamble your money away on the Internet.

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    • 09 October 2006

      CONGRESS OUTLAWS INTERNET GAMBLING WHICH WILL HELP TERRORISM IN THE LONG RUN

      PBS (www.pbs.com) October 6, 2006 Risky Business: Congress stupidly outlawed Internet gambling and only terrorists were helped By Robert X. Cringely Last Saturday the United States Congress passed a port security bill that carried an amendment banning Internet gambling.

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    • 08 October 2006

      Regulate gambling or lose the income

      THE NATIONAL POST Online betting is a grey area of law with huge profits Diane Francis, Financial Post Published: Saturday, October 07, 2006 The world’s largest computer facilities for online gaming are located in Canada and are nicknamed MIT. This doesn’t stand for the Massachusetts Institute of Technology: It stands for the Mohawk Institute of Technology.

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    • 08 October 2006

      UK MAKING A SERIOUS BID TO BRING HEART OF ONLINE GAMBLING TO ENGLAND

      TIMESONLINE The Sunday Times – Business The Sunday Times October 08, 2006 By Dipesh Gadher and Matthew Goodman PLANS to turn Britain into a “world leader” in internet gambling have been drawn up by ministers, according to internal Whitehall documents. In stark contrast to America, where online gambling has in effect been outlawed, ministers want to attract offshore companies to Britain.

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    • 07 October 2006

      INTERNET GAMBLING LEGISLATION CREATES MORE QUESTIONS THAN ANSWERS

      IN BUSINESS Las Vegas By Liz Benston / Staff Writer Days after the contentious passage last weekend of a bill to block American financial institutions from processing online gambling transactions, observers have mixed feelings about what the legislation means for players who gamble at home and the related industries that benefit from the action.

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    • 07 October 2006

      Neteller and Firepay May Be Safe From Recent US Gambling Legislation

      THE EXAMINER By Jerry Jordan, Senior Staff Writer Secreted into H.R. 4954, the Safe Port Act, the U.S. Senate attached and voted to approve an amendment that now makes it illegal for banks to fund Internet gambling sites, as well as, the money brokers, like Neteller, Firepay and Click2Pay that act as a go-between from U.S. banks and offshore gambling sites. In addition, the legislation, which is expected to be signed by President George W.

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    • 07 October 2006

      STATEMENT FROM FIREPAY

      Position by FirePay Remains Steadfast FirePay is holding steady in its position concerning the Unlawful Internet Gambling Enforcement Act, which will become law upon its approval by the President of the United States.The following is an official statement recently released by FirePay: “The Act does not define ‘unlawful Internet gambling’ nor does it make unlawful any activities by financial institutions that are not themselves gambling businesses.

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    • 07 October 2006

      EFFECTS OF INTERNET GAMBLING BILL FUELS EXODUS

      Posted on Fri, Oct. 06, 2006 ‘Black Friday’ effect of Internet gambling measure fuels exodus DANIEL YEE Associated Press ATLANTA – Internet poker players and other gamblers in the U.S. have withdrawn thousands of dollars from their Web-based accounts while some gaming sites have raced to block U.S. residents’ access to online poker, casinos and sports-betting just a week after Congress approved a ban on banks doing business with the sites.

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    • 06 October 2006

      FRIDAY THE 13TH - BUSH SET TO SIGN INTERNET GAMBLING BILL INTO LAW

      EYE ON GAMBLING (EOG) written October 6, 2006 This is sad news but it was expected. EOG has just learned President George W. Bush will sign the Security and Accountability For Every (SAFE) Port Act into law next Friday, delivering a blow to U.K.-listed online gaming companies, whose shares tumbled after an Internet gambling ban was attached to the legislation. The port security bill was one of Congress’ final actions before breaking for the November mid-term elections.

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    • 06 October 2006

      Congress Sends Port Security Legislation to Bush for Approval

      By Elizabeth Kelleher Washington File Staff Writer Washington — Legislation passed by Congress would enhance U.S. efforts to protect its ports from terrorist attack, but the lawmakers already have voted not to fully fund some plans that would be authorized by the bill. Congress passed the Security and Accountability for Every (SAFE) Port Act of 2006 (H.R. 4954) in the early morning hours of September 30 before leaving Washington to campaign for fall elections.

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    • 06 October 2006

      Online Poker Room Takes Big Hit From Congress

      Congress Busts The Online Poker Boom CBS NEWS Ken Adams: New Internet Gaming Law Will Squash Underdog Dreams Of Scoring Big (CBS) Ken Adams writes about poker for CBSNews.com. In 2003 an anonymous Tennessee accountant with the unlikely name of Chris Moneymaker invested $100 in an online poker tournament in which the first prize was a $10,000 entry in the annual World Series of Poker championship in Las Vegas. Moneymaker went on to win the World Series championship bracelet and $2.

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    • 06 October 2006

      Congress Busts The Online Poker Boom

      CBS NEWS Congress Busts The Online Poker Boom Ken Adams: New Internet Gaming Law Will Squash Underdog Dreams Of Scoring Big (CBS) Ken Adams writes about poker for CBSNews.com. In 2003 an anonymous Tennessee accountant with the unlikely name of Chris Moneymaker invested $100 in an online poker tournament in which the first prize was a $10,000 entry in the annual World Series of Poker championship in Las Vegas. Moneymaker went on to win the World Series championship bracelet and $2.

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    • 05 October 2006

      US Bill on Internet gambling: Morality or Protectionism?

      CARIBBEAN NET NEWS Commentary Thursday, October 5, 2006 by Sir Ronald Sanders The value of publicly-traded Internet gaming companies in Britain and their subsidiaries in the Caribbean has been savaged by a Bill adopted in late September by the US Congress making it illegal for banks and credit card companies to make payment to foreign online gambling sites. Over US$7 billion was wiped off the market value of companies that were worth US$12 billion.

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    • 05 October 2006

      LOBBYING 101: HOW HORSE RACING DODGED US INTERNET GAMBLING BILL

      THE INDEPENDENT By Stephen Foley in New York Published: 05 October 2006 The American horse racing industry paid more than $3m (£1.6m) in political donations, and spent millions of dollars more on entertainment and “education”, to ensure its exemption from the new internet betting laws that sealed the destruction of offshore online gambling.

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    • 04 October 2006

      ONLINE CASINO ACTION TAKES BIG HIT

      ACN NEWSWIRE Online Casino Betting Hit Australasian Investment Review Sydney, Oct 4, 2006 (ACN Newswire) – Yes it was sneaky and yes it is terribly ‘American” but all those investors and punting left lamenting the end of the online gaming industry should realise one or two things. Not many people care and the Americans have left a couple of areas of activity to be exploited for the simple reason that American gaming companies are already in those spaces.

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    • 04 October 2006

      EXPERTS SAY ONLINE GAMBLING WILL CONTINUE EVEN WITH ONLINE GAMBLING BAN

      TECHWEB October 03, 2006 (1:11 PM EDT) Gaming Expert: Online Bets Will Continue, Despite New Laws By W. David Gardner, TechWeb Technology News Online gamblers in the U.S. will likely be seeking alternate ways of wagering to avoid new restrictions by Congress that are aimed at halting the practice, an expert in online gambling said in an interview Tuesday. “It’s not going to work,” said Frank Catania, former New Jersey gaming regulator.

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    • 04 October 2006

      US Anti-Gambling Law Hits Canadian Tech Companies

      MEDIACASTER Internet service providers (ISPs) and financial institutions in the U.S. may be liable for severe fines, criminal penalties and imprisonment under a new anti-online gambling law. Some Canadian gaming software and infrastructure companies may have to fold as a result, but for now, they are playing their cards close to the chest. The Unlawful Internet Gambling Enforcement Act of 2006 was passed just minutes before the mid-term election period recess.

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    • 04 October 2006

      A Look At The Unlawful Internet Gambling Enforcement Act 2006

      iGAMING 03-10-06 The Act starts with the findings of a report from the National Gambling Impact Study Commission, chaired by Republican Kay Coles James, which states that Internet gambling is a growing problem for banks and credit card companies and that ‘new mechanisms for enforcing gambling laws on the Internet are necessary.’

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    • 03 October 2006

      MORE LEGISLATION IN THE WORKS REGARDING ONLINE GAMBLING

      DATE: October 2, 2006 CONTACT: ALISE KOWALSKI PRESS RELEASE – CONGRESSMAN BOB GOODLATTE CONGRESS APPROVES LEGISLATION TO DETER ONLINE GAMBLING Washington, DC: On Saturday, the House and Senate passed legislation to curb Internet gambling. The measure was included in the port security conference report, H.R. 4954, and prohibits online gambling businesses from accepting payments for the purpose of betting.

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    • 02 October 2006

      I. NELSON ROSE, PROFESSOR OF LAW LOOKS AT THE UNLAWFUL INTERNET GAMBLING ENFORCEMENT ACT OF 2006

      I. NELSON ROSE PROFESSOR OF LAW, WHITTIER LAW SCHOOL HOME OFFICE: 17031 ENCINO HILLS DRIVE ENCINO, CALIFORNIA 91436 (81 788-8509 FAX: (81 788-3104 WEB SITE: www.GAMBLINGANDTHELAW.com EMAIL: rose@sprintmail.com Gambling and the Law®: The Unlawful Internet Gambling Enforcement Act of 2006 Analyzed © Copyright 2006, all rights reserved worldwide. GAMBLING AND THE LAW® is a registered trademark of Professor I Nelson Rose, www.GAMBLINGANDTHELAW.com.

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    • 02 October 2006

      BANKS BREATHE SIGH OF RELIEF - ONLINE GAMBLING BAN POSSIBLY NOT AS BURDENSOME AS FEARED ON FINANCIAL INSTITUTIONS

      CHRON.COM Oct. 2, 2006, 1:33PM Banks See Protections in Gambling Bill By GREG EDWARDS Dow Jones Newswires © 2006 The Associated Press ST. LOUIS — The Internet gambling legislation passed late last week by the U.S. Congress, which led to a major sell-off of Britain-based online gambling stocks Monday, remains a concern to the U.S. banking industry but isn’t as burdensome as feared.

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    • 02 October 2006

      Online Gaming Companies Battered on Stock Exchange

      iGAMING 02-10-06 Major online gaming firms have today been left reeling by the passage of the Unlawful Internet Gambling Enforcement Act last Friday. Having already announvced their intentions to pull out of the US market once President Bush signs the bill into law, Party Gaming and 888 lost 57% and 34% respectively.

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    • 02 October 2006

      Weir Calls For Stronger Action Against Credit Card Gambling

      SNP WESTMINISTER SNP Work & Pensions spokesperson, Mike Weir MP, has renewed his call to the UK government to take strong action against the use of credit cards for online gambling. Mr Weir made the call following the passage of a new law by the United States Congress which makes it illegal for American banks and credit card companies to process payments to online gambling companies.

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    • 02 October 2006

      BUSH EXPECTED TO SIGN SAFE PORT ACT WITH BAN ON ONLINE GAMBLING RIDER THIS WEEK

      Yahoo News Mon Oct 2, 10:21 AM ET WASHINGTON (AFP) – US President George W. Bush this week is expected to sign a bill making it harder to place bets on the Internet, a practice which already is illegal in the United States. Bush was expected to act quickly after Congress approved the Unlawful Internet Gambling Enforcement Act making it illegal for financial institutions and credit card companies to process payments to settle Internet bets.

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    • 02 October 2006

      OPTIMAL GROUP STATES US LAW AS RELATES TO FIREPAY WILL HAVE SIGNIFICANT IMPACT

      CNW GROUP Optimal Group Makes Announcement Regarding U.S. Legislative Impact upon its FireOne Group plc Subsidiary MONTREAL, October 2 /CNW/ – Optimal Group Inc. (NASDAQ:OPMR) today made the following announcement regarding the adoption by the United States Congress of the Unlawful Internet Gambling Enforcement Act of 2006. On September 30, 2006, the United States Congress passed the Unlawful Internet Gambling Enforcement Act of 2006.

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    • 02 October 2006

      Share Prices Plummet Following US Senate’s Move

      iGAMING 02-10-06 Shares in online gaming firms have dived this morning on the London Stock Exchange, as the industry grapples with the news that the US Senate has passed a bill outlawing internet gambling. Party Gaming has seen a massive 60% drop in prices, while 888 has seen its stock fall by 45%. This has caused the latter to suspend all US business for the foreseeable future and issue a statement saying that this and next year’s figures will be severely affected.

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    • 02 October 2006

      GAMBLING SHARES SLUMP, GAMING COMPANIES TO FOLD US OPERATIONS

      DOW JONES / MARKET WATCH Gambling shares slump after U.S. act approved PartyGaming, 888 Holdings prepare to fold U.S. operations By Simon Kennedy, MarketWatch Last Update: 6:58 AM ET Oct 2, 2006 LONDON (MarketWatch) — Shares in U.K.-listed online gambling companies including PartyGaming and 888 Holdings plummeted Monday after the U.S. Congress unexpectedly passed an act that could cripple the industry by cutting off its revenue flows.

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