OPTIMAL GROUP STATES US LAW AS RELATES TO FIREPAY WILL HAVE SIGNIFICANT IMPACT
02 October 2006
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. The Act, upon becoming law, will
prohibit gambling businesses from accepting any financial instrument in
connection with unlawful Internet gambling. The Act will become law upon its
approval by the President of the United States, which the Company expects will
occur in the coming days. The Act does not define “unlawful Internet gambling”
nor does it make unlawful any activities by financial institutions that are
not themselves gambling businesses. The Act directs the United States Federal
Reserve and the Department of the Treasury to develop regulations that would
direct financial institutions to identify and block certain types of financial
transactions connected with unlawful Internet gambling.
Optimal Group holds approximately 76% of the issued and outstanding
shares of FireOne Group plc (London Stock Exchange (AIM): FPA). FireOne Group
is a provider of payment processing services for the online gaming industry.
The enactment of the Unlawful Internet Gambling Enforcement Act of 2006
will have a significant negative impact on the business and results of
operations of FireOne Group, and therefore the Company.
21 August 2007Short Extension Granted to USA in Online Gambling Case
According to our reliable sources, they tell us: In the US District Court of New Jersey, Trenton Division, papers were filed today to grant a motion on behalf of the US Department of Justice and the co-defendants, giving them a short period longer to respond to charges brought against them by the Interactive Media Entertainment and Gaming Association (iMEGA).Read full article
31 August 2007NEW Date Set for iMEGA versus Gonzales (UIGEA)
NEW Date Set for iMEGA versus Gonzales (UIGEA)Honorable Judge Mary L. cooper will hear oral arguments on TRO and Government dismissal motions.The hearing originally set for September 4th, has been moved to September 26th, in the U.S. District Court of New Jersey, Trenton Division. The hearing date was a mutual agreement by the plaintiff whom is iMEGA and the defendants, who are, Gonzales, the U.S. Department of Justice, the Federal Trade Commission and the Federal Reserve Board of Governors.Read full article
17 July 2006INTERNET GAMBLING BAN A BAD BET
Cincinnati.Com The Enquirer Editorials The U.S. House feels Americans need to be saved from a $12 billion-a-year growth industry – Internet gambling. By a lopsided 317-93 vote, members passed the Unlawful Internet Gambling Enforcement Act on Tuesday, but exempted state-run lotteries and online horse-race betting. Were the Senate to go along with it, the bill would make online sports betting, poker and other popular Internet casino games illegal.Read full article