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PartyGaming PLC expects settlement with US DoJ
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Written by Joey
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Saturday, 10 May 2008 05:41
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PartyGaming PLC, forced to shut down its US facing operations due to the passing of the Unlawful Internet Gambling Enforcement Act , expects to reach a settlement with the US DOJ. Last year, Partygaming PLC initiated talks with the US Department of Justice to avoid retrospective legal action against it.
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Last Updated ( Monday, 26 May 2008 09:28 )
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Read more...
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International Gambling Code?
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Written by Joey
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Tuesday, 06 May 2008 10:11
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Gamcare and Ecogra, recently issued a joint statement to the press, indicating among other things, a renewed effort to regulate the online gaming industry. Well maybe it is not too late yet. For the online casino player, it has been been long in coming, and skeptically hopes that it pushes through.
Would there be money to be made in a heavily regulated industry? You betcha. Casinos, in the end always wins. But for the player, it would be comforting to know that they at least lost (or won) fair and square.
Even though online casino players, when they hear of such initiatives, take it with a grain of salt, still one just hopes that somehow someone out there will advocate for them. Gamcare's Andrew Poole believes that such a gambling code of conduct is badly needed. Players need to know that licensed operators will be responsible , fair, and safe.
The group, including the Remote Gaming association feels it is time to come up with a solution to player complaints by coming out with a regulation that is international in reach. Such a code will indeed be "good news" to online casino players.
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Las Vegas Sands takes a hit 1st Q
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With the economic downturn, less and less people are going to Las Vegas to play in the casinos. MGM had to lay off workers and now Las Vegas Sands have reported first quarter losses of $11 Million for the first quarter. This, compared to a $90 million profit the year before, really shows how bad things have turned in Vegas.
It doesn't help when Warren Buffet tells everyone that the US is in a recession. All figures point that indeed the past several quarters are a cause for concern. That is why Las Vegas Sands had the vision to open up a Casino in Macau. They plan to spend more than 12 billion US dollars to build more than 20,00 rooms in Macau. So far Macau has shown a resilience in this economic storm. Indeed Asia is an emerging market for both landbased and online casinos.
Despite the loss in their Las Vegas operation, Las Vegas Sands is sure to recover because of such strategic decisions to set up shop in Macau. Overall, the casino industry is still bullish as far as the future is concerned.
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ASA pulls Paddy and InterCasino TV ads
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Written by Joey
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Tuesday, 29 April 2008 10:39
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The Advertising Standards Authority (ASA) recently pulled Paddy Power and Inter Casino's tv advertising in the UK market. The Inter Casino ad showing four dwarfs dressed up as dice and playing cards was pulled out of the TV market because ASA felt that it was appealing to younger people as well as children. Though the ads were funny the ASA weren't laughing when they told Inter Casino that the ads have to go.
Paddy Power, an internet betting site focusing on sports betting, was told that their ad showing a short man in the company of a beautiful women was done in poor taste. ASA's reason is that the ad posed the question, "who says you can't make money being short?", and as far as ASA was concerned this was irresponsible and merits to be pulled out. Perhaps it was just politically incorrect for Paddy Power to use the short man and the tagline.
"Being short" is a financial spread betting term was Paddy Power's contention and the ad was not meant to demean anybody. But ASA holding to its strict standards of responsible advertising especially in the gambling market made Paddy Power pull the ad.
For the first time, gambling websites, casinos and bookmakers were permitted to place advertising on TV, and the need to strictly enforce responsible gambling advertising standards was evident in ASA's move. A new code was passed September of last year, 2007, to concur with the new Gambling Act.
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Last Updated ( Tuesday, 29 April 2008 10:42 )
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