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High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email]ftsales-support@ft-com[/email] to buy additional rights. Sri Lankan tourism takes to gambling | beyondbrics | News and views on emerging markets from the Financial Times ? FT-com
You’ve done the elephant safari. You’ve been on the snorkelling trip. Now what you want is a few hours at a blackjack table. Or so believes the Sri Lankan government as it looks to boost tourism by throwing open its arms to foreign investment in its gambling sector.
With its economy chalking up annual growth of 6 per cent over the last five years, the odds are in Sri Lanka’s favour as it tries to join the ranks of Asia’s success stories, especially now that political stability has returned after more than three decades of civil war ended in 2009.
Casinos and other gaming houses have existed in Sri Lanka for the past quarter century but the sector is only partially regulated and suffers from uncertainties. New laws regulating the industry will come into effect next year and, the government hopes, will provide a stable investment environment and help it meet its aim of attracting foreign direct investment into the tourism industry of $2bn during 2012.
Though the timeline remains indefinite, foreign casino and hotel operators are clamouring to get into what could be the next big gaming destination for Asia’s new legions of high rollers.
“Sri Lanka has huge potential to be a perfect gaming destination,” Hardik Dhebar, chief financial officer of Delta Corp, an Indian casino operator, told beyondbrics. “There has been 27 per cent growth in the tourism industry year on year, and for the Indians, Chinese and Koreans who are flocking in, it’s a destination that offers them everything, from holiday packages to gaming.
“It’s an extremely investor-friendly country,” he added. “They will face regulation issues, but we intend to evolve with them.”
Since gambling remains illegal in most of neighbouring India, companies like Delta have acquired land in Sri Lanka to tap into India’s brimming wealth. A natural abundance of sights and activities means the island nation – unlike some other gambling destinations – need not rely on faux-Greco-Roman piazzas or replicas of the Eiffel Tower to make for alluring holiday packages.
Tourism, set to rise as it recovers from the 2004 Indian Ocean tsunami, contributes up to 59 per cent of Sri Lanka’s GDP alongside trade, retail and financial services.
Local casinos say they welcome new competition, saying foreign investment will boost the industry as a whole and that better regulation will lend credibility to the business.
“We expect good, international, healthy competition. It’s not going to have a negative impact on our business” said Nithianandan Durathar, marketing manager at Bellagio, a local casino. “With regulated licenses, it’s a matter of increased credibility. More tourists will come in and we’re expecting to cash in on that.”
As to when new dealers can actually start shuffling their decks, both the tourism ministry and prospective companies remain optimistic about breaking ground in the short to medium term, with Delta looking to set up in “two to five years”.
“Hotel chains like Shangri-La and the Sheraton have confirmed their investments and are on the verge of starting construction,” said Rumy Jauffer, director of the tourism board. “We have a target of 2.5m tourist visits by 2015 and we’re confident we will hit it.”
You’ve done the elephant safari. You’ve been on the snorkelling trip. Now what you want is a few hours at a blackjack table. Or so believes the Sri Lankan government as it looks to boost tourism by throwing open its arms to foreign investment in its gambling sector.
With its economy chalking up annual growth of 6 per cent over the last five years, the odds are in Sri Lanka’s favour as it tries to join the ranks of Asia’s success stories, especially now that political stability has returned after more than three decades of civil war ended in 2009.
Casinos and other gaming houses have existed in Sri Lanka for the past quarter century but the sector is only partially regulated and suffers from uncertainties. New laws regulating the industry will come into effect next year and, the government hopes, will provide a stable investment environment and help it meet its aim of attracting foreign direct investment into the tourism industry of $2bn during 2012.
Though the timeline remains indefinite, foreign casino and hotel operators are clamouring to get into what could be the next big gaming destination for Asia’s new legions of high rollers.
“Sri Lanka has huge potential to be a perfect gaming destination,” Hardik Dhebar, chief financial officer of Delta Corp, an Indian casino operator, told beyondbrics. “There has been 27 per cent growth in the tourism industry year on year, and for the Indians, Chinese and Koreans who are flocking in, it’s a destination that offers them everything, from holiday packages to gaming.
“It’s an extremely investor-friendly country,” he added. “They will face regulation issues, but we intend to evolve with them.”
Since gambling remains illegal in most of neighbouring India, companies like Delta have acquired land in Sri Lanka to tap into India’s brimming wealth. A natural abundance of sights and activities means the island nation – unlike some other gambling destinations – need not rely on faux-Greco-Roman piazzas or replicas of the Eiffel Tower to make for alluring holiday packages.
Tourism, set to rise as it recovers from the 2004 Indian Ocean tsunami, contributes up to 59 per cent of Sri Lanka’s GDP alongside trade, retail and financial services.
Local casinos say they welcome new competition, saying foreign investment will boost the industry as a whole and that better regulation will lend credibility to the business.
“We expect good, international, healthy competition. It’s not going to have a negative impact on our business” said Nithianandan Durathar, marketing manager at Bellagio, a local casino. “With regulated licenses, it’s a matter of increased credibility. More tourists will come in and we’re expecting to cash in on that.”
As to when new dealers can actually start shuffling their decks, both the tourism ministry and prospective companies remain optimistic about breaking ground in the short to medium term, with Delta looking to set up in “two to five years”.
“Hotel chains like Shangri-La and the Sheraton have confirmed their investments and are on the verge of starting construction,” said Rumy Jauffer, director of the tourism board. “We have a target of 2.5m tourist visits by 2015 and we’re confident we will hit it.”
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2006/12/07
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The company Playtech has been adding a lot of customers to its already extensive base for a long time now and one recent new client Boyle Sports is expanding too. One of Ireland‘s independent bookmaking companies, Boyle Sports, has been offering online sports betting, bingo and poker through its web site but will now expand its offering to include casino type games in the form of Boyles Casino. The launch which as mentioned will utilize Playtech software to power the new games with Boyle Casino now being licensed by the Alderney Gambling Control Commission.
The Chief Executive Officer at Boyle Sports, John Boyle, commented on the launch,, "We're in a strong growth phase at Boyle Sports and the launch of our new online casino is testament to our constant innovation and development."
Playtech’s very popular, progressive and classic slots plus table and card games are made available in Flash versions or the downloadable casino venue. The Playtech titles such as Pink Panther, Iron Man 2, Beach Life and Santa's Surprise are prominently displayed at the Boyle Casino lobby and can also be directly played for free from there without any registration formalities or downloading. Plus other unique Playtech arcade games like Dice Twister, Genie's Hi Lo, Jackpot Darts and Shoot Out are also there for playing instantly.
There are some serious promotional bonuses available for those who are new to the casino. The Sign Up bonus offers 100% of the first deposit up to €100 or £100 if the player wants to wager with English money. A leader board promotion entitled Santa Super Slots says, "Christmas is coming and with a brand new Casino site launched we want to celebrate, what better way to do that than to give away loads of cash to some lucky players."
Playtech’s CEO Mor Weizer, mentioned, "Since 2008, Boyle Sports has been a key customer for Playtech, utilizing its wide range of products. Now, with Boyle Sports taking the next step in choosing Playtech as its partner in casino, Playtech further demonstrates its strength in providing a 'one stop shop' for operators.”
The Chief Executive Officer at Boyle Sports, John Boyle, commented on the launch,, "We're in a strong growth phase at Boyle Sports and the launch of our new online casino is testament to our constant innovation and development."
Playtech’s very popular, progressive and classic slots plus table and card games are made available in Flash versions or the downloadable casino venue. The Playtech titles such as Pink Panther, Iron Man 2, Beach Life and Santa's Surprise are prominently displayed at the Boyle Casino lobby and can also be directly played for free from there without any registration formalities or downloading. Plus other unique Playtech arcade games like Dice Twister, Genie's Hi Lo, Jackpot Darts and Shoot Out are also there for playing instantly.
There are some serious promotional bonuses available for those who are new to the casino. The Sign Up bonus offers 100% of the first deposit up to €100 or £100 if the player wants to wager with English money. A leader board promotion entitled Santa Super Slots says, "Christmas is coming and with a brand new Casino site launched we want to celebrate, what better way to do that than to give away loads of cash to some lucky players."
Playtech’s CEO Mor Weizer, mentioned, "Since 2008, Boyle Sports has been a key customer for Playtech, utilizing its wide range of products. Now, with Boyle Sports taking the next step in choosing Playtech as its partner in casino, Playtech further demonstrates its strength in providing a 'one stop shop' for operators.”
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2006/12/07
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The Justice Department indicated many forms of online gambling could become legal under federal law in a sweeping opinion that appeared to reverse long-held policy and potentially opens important new business opportunities for companies seeking to profit from Internet wagering.
In a letter dated in September but posted on its website Friday, the department's Office of Legal Counsel said it determined that the Federal Wire Act—the 1961 law that had been interpreted to outlaw all forms of gambling across state lines—applies only to "a sporting event or contest."
That could open up opportunities for states to legalize Internet ..
In a letter dated in September but posted on its website Friday, the department's Office of Legal Counsel said it determined that the Federal Wire Act—the 1961 law that had been interpreted to outlaw all forms of gambling across state lines—applies only to "a sporting event or contest."
That could open up opportunities for states to legalize Internet ..
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The Obama administration appears to have softened a U.S. ban on Internet gambling.
In a legal opinion posted Friday, the Justice Department said online betting unrelated to sporting events falls outside the reach of federal law. The U.S. government has long considered such gambling illegal when it crosses state lines.
The gambling industry is worth billions worldwide but many operators are based overseas. Washington has cracked down on some of them, and a 2006 law forbade financial institutions from processing funds for most online wagering.
Because of the difficulty in enforcing age and other requirements, the issue has divided lawmakers and the industry. But several states have been studying plans for web betting within states.
The opinion letter was first reported by the Wall Street Journal.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
In a legal opinion posted Friday, the Justice Department said online betting unrelated to sporting events falls outside the reach of federal law. The U.S. government has long considered such gambling illegal when it crosses state lines.
The gambling industry is worth billions worldwide but many operators are based overseas. Washington has cracked down on some of them, and a 2006 law forbade financial institutions from processing funds for most online wagering.
Because of the difficulty in enforcing age and other requirements, the issue has divided lawmakers and the industry. But several states have been studying plans for web betting within states.
The opinion letter was first reported by the Wall Street Journal.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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2006/12/07
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The Justice Department has reversed its long-held opposition to many forms of Internet gambling, removing a big legal obstacle for states that want to sanction online gambling to help fix their budget deficits.
The legal opinion, issued by the department’s office of legal counsel in September but made public on Friday, came in response to requests by New York and Illinois to clarify whether the Wire Act of 1961, which prohibits wagering over telecommunications systems that cross state or national borders, prevented those states from using the Internet to sell lottery tickets to adults within their own borders.
Although the opinion dealt specifically with lottery tickets, it opened the door for states to allow Internet poker and other forms of online betting that do not involve sports. Many states are interested in online gambling as a way to raise tax revenue.
New York has offered an online subscription service since 2005 that allows state residents to enter a string of Lotto or Mega Millions drawings.
The director of the New York Lottery, Gordon Medenica, said Saturday that the lottery had built a broader online gaming system for New York, but that the contractor that put the system together was wary about moving forward because it feared it could get into legal trouble.
“We’ve been waiting for a couple years,” Mr. Medenica said in a telephone interview. “We’re thrilled that this ruling has now come down and confirmed that our legal analysis was correct all along.” As a result of the new policy, New York Lottery officials said they planned to add two additional jackpot games, Powerball and Sweet Million, to its current online lottery subscription service, and would allow New York residents to buy single-draw tickets online for the first time.
Mr. Medenica said it would take several months for the lottery to finalize the new offerings, and he said officials would “take a very cautious initial approach” in rolling out additional online options.
Michael Jones, the superintendent of the Illinois Lottery, said the request for clarification was prompted by research the state commissioned several years ago that indicated online sales could drive up participation. “When you look at the Internet, which is what everybody uses these days to buy everything, it seemed like a very, very logical thing to use the Internet to increase the player base,” Mr. Jones said. “States were in dire financial problems — the ability to use the lottery to raise revenue in a nontax way was a significant thing for states to do.”
He also said that online sales would enable the lottery to regulate purchases. “Right now we can’t guard against someone walking into a lottery retailer and buying too many tickets and behaving excessively,” Mr. Jones said. “Now with credit card purchases, we can guard against excessive play.”
Illinois could begin selling lottery tickets online in as soon as three months, he said.
The District of Columbia and Nevada have both approved limited forms of Internet gambling, and New Jersey has been considering legislation allowing sports betting and other forms of Internet gambling.
Steven Grossman, the Massachusetts state treasurer and the chairman of the state’s Lottery Commission, called the opinion a “turbocharged opportunity to engage new markets.” “This will put additional pressure on Congress and others to allow online poker and other Internet gambling,” Mr. Grossman said.
Estimates of the size of the online gambling industry vary widely, from as low as $6 billion to as high as $100 billion. But even at the lower end, Mr. Grossman said, “that’s tens of billions of dollars that goes offshore.”
In a separate request in July, Senators Harry Reid, Democrat of Nevada, and Jon Kyl, Republican of Arizona, asked the Justice Department to clarify its position on Internet gambling, seeking either to affirm that federal law prohibits gambling over the Internet or to make sure that Congress has a role in drafting any expansion of online betting.
In a reply letter that was also issued Friday, the Justice Department said that while the new policy “differs from the department’s previous interpretation of the Wire Act, it reflects the department’s position in Congressional testimony at the time the Wire Act was passed in 1961.”
The new policy merely reverses the Justice Department’s longstanding position that all forms of online gambling are illegal in the United States. It does not necessarily pave the way for national rules governing online gambling.
But experts in gambling law said Saturday that the new policy does imply that states can band together to allow gambling across state borders. The exception would be online sports betting, which is explicitly prohibited under federal law.
“The next step,” said Mark Hichar, a partner and head of the gaming law group at the law firm Edwards Wildman in Boston, “could be for states to enter into compacts with each other to have interstate Internet wagering,” as some do now for horse racing. The decision was cheered by states that have been contemplating gambling for the first time. But some gambling interest groups, like the American Gaming Association, which represents casino operators and makers of gambling equipment, said the opinion makes clear the need for a federal law establishing consistent regulatory standards.
“This is quite a Christmas present,” said I. Nelson Rose, a distinguished senior professor at Whittier Law School and a consultant to gambling companies and governments. “It says, ‘Keep it in your state and it’s legal.’ Given the continuing budget crisis, and so many states looking for ways to raise money, it’s really a major decision.”
Virginia A. Seitz, an assistant attorney general in the Justice Department’s office of legal counsel, wrote in the opinion that the prohibition in the Wire Act of using interstate communications for gambling applies only to betting on a “sporting event or con
The legal opinion, issued by the department’s office of legal counsel in September but made public on Friday, came in response to requests by New York and Illinois to clarify whether the Wire Act of 1961, which prohibits wagering over telecommunications systems that cross state or national borders, prevented those states from using the Internet to sell lottery tickets to adults within their own borders.
Although the opinion dealt specifically with lottery tickets, it opened the door for states to allow Internet poker and other forms of online betting that do not involve sports. Many states are interested in online gambling as a way to raise tax revenue.
New York has offered an online subscription service since 2005 that allows state residents to enter a string of Lotto or Mega Millions drawings.
The director of the New York Lottery, Gordon Medenica, said Saturday that the lottery had built a broader online gaming system for New York, but that the contractor that put the system together was wary about moving forward because it feared it could get into legal trouble.
“We’ve been waiting for a couple years,” Mr. Medenica said in a telephone interview. “We’re thrilled that this ruling has now come down and confirmed that our legal analysis was correct all along.” As a result of the new policy, New York Lottery officials said they planned to add two additional jackpot games, Powerball and Sweet Million, to its current online lottery subscription service, and would allow New York residents to buy single-draw tickets online for the first time.
Mr. Medenica said it would take several months for the lottery to finalize the new offerings, and he said officials would “take a very cautious initial approach” in rolling out additional online options.
Michael Jones, the superintendent of the Illinois Lottery, said the request for clarification was prompted by research the state commissioned several years ago that indicated online sales could drive up participation. “When you look at the Internet, which is what everybody uses these days to buy everything, it seemed like a very, very logical thing to use the Internet to increase the player base,” Mr. Jones said. “States were in dire financial problems — the ability to use the lottery to raise revenue in a nontax way was a significant thing for states to do.”
He also said that online sales would enable the lottery to regulate purchases. “Right now we can’t guard against someone walking into a lottery retailer and buying too many tickets and behaving excessively,” Mr. Jones said. “Now with credit card purchases, we can guard against excessive play.”
Illinois could begin selling lottery tickets online in as soon as three months, he said.
The District of Columbia and Nevada have both approved limited forms of Internet gambling, and New Jersey has been considering legislation allowing sports betting and other forms of Internet gambling.
Steven Grossman, the Massachusetts state treasurer and the chairman of the state’s Lottery Commission, called the opinion a “turbocharged opportunity to engage new markets.” “This will put additional pressure on Congress and others to allow online poker and other Internet gambling,” Mr. Grossman said.
Estimates of the size of the online gambling industry vary widely, from as low as $6 billion to as high as $100 billion. But even at the lower end, Mr. Grossman said, “that’s tens of billions of dollars that goes offshore.”
In a separate request in July, Senators Harry Reid, Democrat of Nevada, and Jon Kyl, Republican of Arizona, asked the Justice Department to clarify its position on Internet gambling, seeking either to affirm that federal law prohibits gambling over the Internet or to make sure that Congress has a role in drafting any expansion of online betting.
In a reply letter that was also issued Friday, the Justice Department said that while the new policy “differs from the department’s previous interpretation of the Wire Act, it reflects the department’s position in Congressional testimony at the time the Wire Act was passed in 1961.”
The new policy merely reverses the Justice Department’s longstanding position that all forms of online gambling are illegal in the United States. It does not necessarily pave the way for national rules governing online gambling.
But experts in gambling law said Saturday that the new policy does imply that states can band together to allow gambling across state borders. The exception would be online sports betting, which is explicitly prohibited under federal law.
“The next step,” said Mark Hichar, a partner and head of the gaming law group at the law firm Edwards Wildman in Boston, “could be for states to enter into compacts with each other to have interstate Internet wagering,” as some do now for horse racing. The decision was cheered by states that have been contemplating gambling for the first time. But some gambling interest groups, like the American Gaming Association, which represents casino operators and makers of gambling equipment, said the opinion makes clear the need for a federal law establishing consistent regulatory standards.
“This is quite a Christmas present,” said I. Nelson Rose, a distinguished senior professor at Whittier Law School and a consultant to gambling companies and governments. “It says, ‘Keep it in your state and it’s legal.’ Given the continuing budget crisis, and so many states looking for ways to raise money, it’s really a major decision.”
Virginia A. Seitz, an assistant attorney general in the Justice Department’s office of legal counsel, wrote in the opinion that the prohibition in the Wire Act of using interstate communications for gambling applies only to betting on a “sporting event or con
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2006/12/07
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National non-profits that want to engage in charitable gambling could obtain one license that would apply to all games run by local chapters under legislation expected to be introduced in the General Assembly.
Attorney Mark Shublak tells the Indianapolis Business Journal (Bill would loosen rules on gambling licenses | 2011-12-17 | Indianapolis Business Journal | IBJ-com ) he is working with Republican Rep. Mark Messmer of Jasper on the bill that he says would simplify rules and result in better compliance.
Shublak represents Memphis, Tenn.-based Ducks Unlimited. The organization was fined $4,250 this year for running a raffle without a license.
The Indiana Gaming Commission says raffles statewide attracted $65.2 million in revenue with $18.5 million in net proceeds in fiscal year 2010.
That represents a 28 percent profit margin, compared with about 4 percent on bingo games and 18 percent on pull tabs.
Attorney Mark Shublak tells the Indianapolis Business Journal (Bill would loosen rules on gambling licenses | 2011-12-17 | Indianapolis Business Journal | IBJ-com ) he is working with Republican Rep. Mark Messmer of Jasper on the bill that he says would simplify rules and result in better compliance.
Shublak represents Memphis, Tenn.-based Ducks Unlimited. The organization was fined $4,250 this year for running a raffle without a license.
The Indiana Gaming Commission says raffles statewide attracted $65.2 million in revenue with $18.5 million in net proceeds in fiscal year 2010.
That represents a 28 percent profit margin, compared with about 4 percent on bingo games and 18 percent on pull tabs.
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2006/12/07
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Vanessa Bryant and Kobe Bryant
NBA star Kobe Bryant is hoping his wife Vanessa will overlook that little old infedlity thing - for the sake of the kids. Vanessa, who was tipped off by fellow basketball wives since Kobe had been bragging about all his extra mairital conquests to their husbands, filed for divorce recently. Because there is no prenup, she will get half of Kobe's empire.
Although the couple realeased a statement that stated they had "resolved all issues incident to their divorce privately," reports are surfacing that Kobe desperately wants to reconcile for the sake of his two daughters with Vanessa.
The end of the ten-year marriage for the couple has been a marriage plagued with scandal and rumors of his infidelity. Vanessa cited “irreconcilable differences” in the divorce paperwork and Kobe is "deeply depressed" and worried how his daughters will handle growing up in two separate households.
Bryant's family was not aware of Kobe's philadnerings, but they hope Vanessa can give the relationship another try.
In an interesting twist - it's important to note that Kobe had been accused of cheating on numberous occasions, but Vanessa decided to pull the plud on her marriage at the ten year mark. Why is this significant? In California, at the ten-year mark, the marriage is considered "long term" and thus Vanessa will get paid for life or until she remarries. A coincidence? Or did she hold out for the big pay out?
NBA star Kobe Bryant is hoping his wife Vanessa will overlook that little old infedlity thing - for the sake of the kids. Vanessa, who was tipped off by fellow basketball wives since Kobe had been bragging about all his extra mairital conquests to their husbands, filed for divorce recently. Because there is no prenup, she will get half of Kobe's empire.
Although the couple realeased a statement that stated they had "resolved all issues incident to their divorce privately," reports are surfacing that Kobe desperately wants to reconcile for the sake of his two daughters with Vanessa.
The end of the ten-year marriage for the couple has been a marriage plagued with scandal and rumors of his infidelity. Vanessa cited “irreconcilable differences” in the divorce paperwork and Kobe is "deeply depressed" and worried how his daughters will handle growing up in two separate households.
Bryant's family was not aware of Kobe's philadnerings, but they hope Vanessa can give the relationship another try.
In an interesting twist - it's important to note that Kobe had been accused of cheating on numberous occasions, but Vanessa decided to pull the plud on her marriage at the ten year mark. Why is this significant? In California, at the ten-year mark, the marriage is considered "long term" and thus Vanessa will get paid for life or until she remarries. A coincidence? Or did she hold out for the big pay out?
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2006/12/07
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I've always wondered what there is to gambling that makes people bet on something that has no assurance in giving you anything in return?
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yesiamwhoami wrote:
I've always wondered what there is to gambling that makes people bet on something that has no assurance in giving you anything in return?
They won't the bi win
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2006/12/07
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The Justice Department has reversed its long-held opposition to many forms of Internet gambling, removing a big legal obstacle for states that want to sanction online gambling to help fix their budget deficits. The legal opinion, issued in September but made public over the weekend, came in response to requests by New York and Illinois to clarify whether the Wire Act of 1961, which prohibits wagering over telecommunications systems that cross state or national borders, prevented those states from using the Internet to sell lottery tickets to adults within their own borders.
ATF head blamed others — In a confidential deposition with congressional investigators, the then-head of the Bureau of Alcohol, Tobacco, Firearms and Explosives blamed agents, field supervisors and even his top command for never advising him that for more than a year, his agency allowed illegal gun sales along the southwestern U.S. border. The deposition shows that Kenneth Melson said that even his chief intelligence officer at ATF headquarters was upset with the operation, dubbed Fast and Furious, but did little to shut it down, Melson complained.
Farm reports reinstated — The Agriculture Department is reinstating several reports that it had targeted for elimination two months ago in a cost-cutting move. The department says that it will reinstate reports for industries such as catfish and trout, hops, fruits and vegetables, and bees and honey. In October, the USDA had said that eliminating or reducing the frequency of 14 reports would save about $10 million.
7 dead in Texas — Seven people believed to be related had opened their Christmas gifts when they were shot to death in a suburban Fort Worth apartment, police said Sunday. Authorities said they believe the shooter is among the dead. Four women and three men, aged 18 to 60, were found, said Grapevine Police Sgt. Robert Eberling. Two handguns were found near the bodies, he added.
5 die in fire — Five people died in an early morning fire on Sunday that consumed their 4,000-square-foot house in a waterfront neighborhood of Stamford, officials said. The mayor of Stamford, Michael Pavia, said at a news conference that three of the victims were children. The deputy fire chief, Timothy Conroy, said all five victims were related, and he confirmed that a man and woman had survived the fire.
Soldier shot at home — A decorated Army soldier recovering from injuries suffered in a suicide bombing in Afghanistan has been shot at his homecoming party, and family members say he's paralyzed and in critical condition. Christopher Sullivan, 22, was shot late Friday while trying to break up a fight between his brother and another man at a San Bernardino, Calif., residence.
ATF head blamed others — In a confidential deposition with congressional investigators, the then-head of the Bureau of Alcohol, Tobacco, Firearms and Explosives blamed agents, field supervisors and even his top command for never advising him that for more than a year, his agency allowed illegal gun sales along the southwestern U.S. border. The deposition shows that Kenneth Melson said that even his chief intelligence officer at ATF headquarters was upset with the operation, dubbed Fast and Furious, but did little to shut it down, Melson complained.
Farm reports reinstated — The Agriculture Department is reinstating several reports that it had targeted for elimination two months ago in a cost-cutting move. The department says that it will reinstate reports for industries such as catfish and trout, hops, fruits and vegetables, and bees and honey. In October, the USDA had said that eliminating or reducing the frequency of 14 reports would save about $10 million.
7 dead in Texas — Seven people believed to be related had opened their Christmas gifts when they were shot to death in a suburban Fort Worth apartment, police said Sunday. Authorities said they believe the shooter is among the dead. Four women and three men, aged 18 to 60, were found, said Grapevine Police Sgt. Robert Eberling. Two handguns were found near the bodies, he added.
5 die in fire — Five people died in an early morning fire on Sunday that consumed their 4,000-square-foot house in a waterfront neighborhood of Stamford, officials said. The mayor of Stamford, Michael Pavia, said at a news conference that three of the victims were children. The deputy fire chief, Timothy Conroy, said all five victims were related, and he confirmed that a man and woman had survived the fire.
Soldier shot at home — A decorated Army soldier recovering from injuries suffered in a suicide bombing in Afghanistan has been shot at his homecoming party, and family members say he's paralyzed and in critical condition. Christopher Sullivan, 22, was shot late Friday while trying to break up a fight between his brother and another man at a San Bernardino, Calif., residence.
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Following the lead of Denmark, which will usher in a new era in online gambling on January 1, Spain is set to become the next European country to fully implement industry reforms. And with one of the biggest markets in Europe, some are predicting Spain's online gambling industry will boom.
European Markets Liberalizing
Denmark is leading the way in Europe, after the country's gambling authority issues 55 licenses to 38 operators, who will all begin offering their services on January 1. Although nine Danish companies received licenses, the announcement was more notable for the fact that a majority of the licensees - including 888, PokerStars and Betfair - are from abroad.
Likewise, Spain has been heading down the path of liberalization for some time. In the new year, the government will begin to issue online gambling licenses to operators, and it is believed those operators will be able to begin operating shortly afterward. Spain's internet gambling reforms were approved by parliament earlier this year.
Market to Grow to 680 mil. euros
After Germany, France and Italy, Spain's is the largest economy on the European continent, so it is no surprise that foreign operators are salivating at the prospect of getting a piece of the country's gambling market.
How much exactly is this market worth? According to a report just released by the Media and Entertainment Consulting Network (MECN), Spain's online gambling market will not only be a success, but will grow to be worth around 680 million euros by 2015.
The Spanish market has a high relevance for the industry, with 80% of major operators likely to apply for a license, the report said. It said conditions in Spain - where gambling taxes are a lot 25% of gross revenue - make it more attractive than France, and lead online gambling operators to believe a Spanish license will pay off eventually.
The report said another reason operators are putting Spain on top of the agenda is that the country is ready to start right now, whereas in Europe's largest potential gambling market - Germany - legislators are still divided over the issue and liberalization is being stalled.
European Markets Liberalizing
Denmark is leading the way in Europe, after the country's gambling authority issues 55 licenses to 38 operators, who will all begin offering their services on January 1. Although nine Danish companies received licenses, the announcement was more notable for the fact that a majority of the licensees - including 888, PokerStars and Betfair - are from abroad.
Likewise, Spain has been heading down the path of liberalization for some time. In the new year, the government will begin to issue online gambling licenses to operators, and it is believed those operators will be able to begin operating shortly afterward. Spain's internet gambling reforms were approved by parliament earlier this year.
Market to Grow to 680 mil. euros
After Germany, France and Italy, Spain's is the largest economy on the European continent, so it is no surprise that foreign operators are salivating at the prospect of getting a piece of the country's gambling market.
How much exactly is this market worth? According to a report just released by the Media and Entertainment Consulting Network (MECN), Spain's online gambling market will not only be a success, but will grow to be worth around 680 million euros by 2015.
The Spanish market has a high relevance for the industry, with 80% of major operators likely to apply for a license, the report said. It said conditions in Spain - where gambling taxes are a lot 25% of gross revenue - make it more attractive than France, and lead online gambling operators to believe a Spanish license will pay off eventually.
The report said another reason operators are putting Spain on top of the agenda is that the country is ready to start right now, whereas in Europe's largest potential gambling market - Germany - legislators are still divided over the issue and liberalization is being stalled.
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After a decade of legislative defeats, proponents of expanded gambling believe they have their best chance to win approval of a constitutional amendment that could allow casinos at racetracks or other locations.
Democratic Gov. Steve Beshear’s landslide win over Republican Senate President David Williams in this year’s election has emboldened supporters of expanded gambling, which is viewed as a way to help Kentucky’s horse industry while providing needed revenue to state government.
So has a shift by House Speaker Greg Stumbo, the Prestonsburg Democrat who initially preferred a statutory change to allow expanded gambling — as opposed to a change in the state constitution, the route Beshear now prefers.
Stumbo has agreed to consider an amendment — if it is first approved by the Senate.
“We think this is our best opportunity,” said Brett Hale, vice president for governmental relations at Churchill Downs Inc. “The time is now.”
Details of what Beshear is considering have not been released, although he has said he could support casino locations other than at racetracks only if the tracks also had a chance to be involved.
Beshear spokeswoman Kerri Richardson said, as the governor did on inauguration day, that a plan would be released in the coming days. The governor’s office declined further comment.
An amendment needs 23 votes in the 38-member Senate and 60 in the 100-member House to be adopted, and it then must be approved by voters in the November general election.
But where the amendment starts its legislative journey is a potential stumbling block, as two senators who have supported expanding gambling — in at least some fashion — say the governor’s plan needs to win initial approval in the House.
One of them, Sen. Damon Thayer, the Georgetown Republican who is chairman of the State and Local Government Committee, which routinely hears bills proposing constitutional amendments, was noncommittal on whether he’d hear a gambling amendment that originated in the Senate.
The procedural question is important because House or Senate leaders would be exposing their members to a controversial vote without the assurance that the other chamber will give its approval.
Another potential stumbling block is the lengthy agenda during the 60-day session, including a looming battle over redrawing state House, state Senate and congressional district lines, and the difficult task of writing a two-year state budget in lean economic times.
In spite of those potential obstacles, Hale said he’s “cautiously optimistic,” a sentiment widely shared throughout the horse industry.
The industry argues that states such as Indiana, New York, Louisiana and Pennsylvania are attracting horses that otherwise would race in Kentucky because of purses and breeding incentives in those states that are supplemented with revenue from slots or broader casino gambling.
The only movement on the gambling issue during Beshear’s first term was the Kentucky Horse Racing Commission’s approval of the slot machine-like Instant Racing game, currently in use at Kentucky Downs near the Tennessee border in Franklin and approved for Western Kentucky’s Ellis Park in Henderson.
The devices — which are seen as being less lucrative than traditional slots — use results from old horse races to determine winners, without identifying the race to the gambler until after the bet is made. Proponents say the game is legal under state law authorizing pari-mutuel gambling, while opponents say it is nothing more than a slot machine.
A Franklin circuit judge ruled last year that Instant Racing is legal, but the Family Foundation of Kentucky has appealed that decision to the state Court of Appeals, where the case is pending. The appeals court has declined to halt use of the game while its legality is decided.
Opponents, including the Family Foundation, are lining up against expanded gambling in the upcoming session.
Marian McClure Taylor, executive director of the Kentucky Council of Churches, said in a statement that tax reform is needed to help pay for services, “but our future will not be better if we turn to expanding gambling, and the Kentucky Council of Churches will continue to speak against this approach that has been proven to be harmful to families and communities.”
Even in the face of such opposition, supporters of the idea are encouraged by their chances.
One reason cited by the horse industry is the widely held belief that Beshear’s best chance to win approval of expanded gambling is likely this session.
“Theoretically he should be at his strongest on January 3rd,” Thayer said, “and he has not had a great working relationship with the General Assembly in his first term. But I do think he deserves an opportunity on a second chance.”
House Majority Leader Rocky Adkins, D-Sandy Hook, said Beshear’s influence, based on his 22-percentage-point win over Williams last month, would still be considerable in the 2013 short legislative session, although a constitutional amendment would have to wait until 2014 to go on the ballot if it doesn’t pass this session.
“Momentum is awfully important, and I think this governor has a tremendous amount of momentum right now,” Adkins said. “ … I think it’ll be a time when he has more support probably than he’s ever had during his time of being governor.”
Supporters of expanded gambling also have cited as reasons for their optimism previous statements by Williams — the leading opponent of expanded gambling — and Thayer that there may be enough votes in the Senate to pass a constitutional amendment.
But both say Beshear needs to release a proposal and start selling it to voters and legislators.
“We’ll see what the constitutional amendment has to say,” Williams said on inauguration day. “It’s all in how he words it on whether there’s enough votes, and I would suggest that before he presents it in either the House or the Senate, he needs to complete
Democratic Gov. Steve Beshear’s landslide win over Republican Senate President David Williams in this year’s election has emboldened supporters of expanded gambling, which is viewed as a way to help Kentucky’s horse industry while providing needed revenue to state government.
So has a shift by House Speaker Greg Stumbo, the Prestonsburg Democrat who initially preferred a statutory change to allow expanded gambling — as opposed to a change in the state constitution, the route Beshear now prefers.
Stumbo has agreed to consider an amendment — if it is first approved by the Senate.
“We think this is our best opportunity,” said Brett Hale, vice president for governmental relations at Churchill Downs Inc. “The time is now.”
Details of what Beshear is considering have not been released, although he has said he could support casino locations other than at racetracks only if the tracks also had a chance to be involved.
Beshear spokeswoman Kerri Richardson said, as the governor did on inauguration day, that a plan would be released in the coming days. The governor’s office declined further comment.
An amendment needs 23 votes in the 38-member Senate and 60 in the 100-member House to be adopted, and it then must be approved by voters in the November general election.
But where the amendment starts its legislative journey is a potential stumbling block, as two senators who have supported expanding gambling — in at least some fashion — say the governor’s plan needs to win initial approval in the House.
One of them, Sen. Damon Thayer, the Georgetown Republican who is chairman of the State and Local Government Committee, which routinely hears bills proposing constitutional amendments, was noncommittal on whether he’d hear a gambling amendment that originated in the Senate.
The procedural question is important because House or Senate leaders would be exposing their members to a controversial vote without the assurance that the other chamber will give its approval.
Another potential stumbling block is the lengthy agenda during the 60-day session, including a looming battle over redrawing state House, state Senate and congressional district lines, and the difficult task of writing a two-year state budget in lean economic times.
In spite of those potential obstacles, Hale said he’s “cautiously optimistic,” a sentiment widely shared throughout the horse industry.
The industry argues that states such as Indiana, New York, Louisiana and Pennsylvania are attracting horses that otherwise would race in Kentucky because of purses and breeding incentives in those states that are supplemented with revenue from slots or broader casino gambling.
The only movement on the gambling issue during Beshear’s first term was the Kentucky Horse Racing Commission’s approval of the slot machine-like Instant Racing game, currently in use at Kentucky Downs near the Tennessee border in Franklin and approved for Western Kentucky’s Ellis Park in Henderson.
The devices — which are seen as being less lucrative than traditional slots — use results from old horse races to determine winners, without identifying the race to the gambler until after the bet is made. Proponents say the game is legal under state law authorizing pari-mutuel gambling, while opponents say it is nothing more than a slot machine.
A Franklin circuit judge ruled last year that Instant Racing is legal, but the Family Foundation of Kentucky has appealed that decision to the state Court of Appeals, where the case is pending. The appeals court has declined to halt use of the game while its legality is decided.
Opponents, including the Family Foundation, are lining up against expanded gambling in the upcoming session.
Marian McClure Taylor, executive director of the Kentucky Council of Churches, said in a statement that tax reform is needed to help pay for services, “but our future will not be better if we turn to expanding gambling, and the Kentucky Council of Churches will continue to speak against this approach that has been proven to be harmful to families and communities.”
Even in the face of such opposition, supporters of the idea are encouraged by their chances.
One reason cited by the horse industry is the widely held belief that Beshear’s best chance to win approval of expanded gambling is likely this session.
“Theoretically he should be at his strongest on January 3rd,” Thayer said, “and he has not had a great working relationship with the General Assembly in his first term. But I do think he deserves an opportunity on a second chance.”
House Majority Leader Rocky Adkins, D-Sandy Hook, said Beshear’s influence, based on his 22-percentage-point win over Williams last month, would still be considerable in the 2013 short legislative session, although a constitutional amendment would have to wait until 2014 to go on the ballot if it doesn’t pass this session.
“Momentum is awfully important, and I think this governor has a tremendous amount of momentum right now,” Adkins said. “ … I think it’ll be a time when he has more support probably than he’s ever had during his time of being governor.”
Supporters of expanded gambling also have cited as reasons for their optimism previous statements by Williams — the leading opponent of expanded gambling — and Thayer that there may be enough votes in the Senate to pass a constitutional amendment.
But both say Beshear needs to release a proposal and start selling it to voters and legislators.
“We’ll see what the constitutional amendment has to say,” Williams said on inauguration day. “It’s all in how he words it on whether there’s enough votes, and I would suggest that before he presents it in either the House or the Senate, he needs to complete
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2006/12/07
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Cash-strapped states betting on new online poker and lottery revenues won a major victory with a recent Department of Justice announcement that it is reversing its interpretation of the federal 1961 Wire Act, clearing the way for a potential boom in online gambling. Until now, the Justice Department had held that the Wire Act makes even intrastate online gambling illegal. Its new interpretation, written by Justice Department attorneys in response to requests for clarification from New York and Illinois, concluded that the law instead specifically outlaws such wagering on sports, not nonsports gambling within states or even across state borders.
"The ordinary meaning of the phrase 'sporting event or contest' does not encompass lotteries," wrote Assistant Attorney General Virginia Seitz. "Accordingly, we conclude that the proposed lotteries are not within the prohibitions of the Wire Act."
With global online gambling now worth an estimated $30 billion, and with online poker worth a potential $6 billion annually in the US, some are heralding the decision as a means for financially strapped states to leverage new revenue from legalized online gambling – and stave off at least some cuts to bureaucracies, entitlements, and public employee pension systems.
But gambling critics see the move as another major crack in America's moral foundation, opening the way for states to become further dependent upon tax revenues gained from a form of recreation that hits hardest those who can least afford it. In that light, the new US stance may prompt Congress to enact laws aimed at helping to curb addiction and to prevent children from becoming involved in online gambling, even while allowing "casual" gamblers more options and opportunities to play. So far, Congress has folded on a handful of proposed Internet gambling measures.
"The United States Department of Justice has given the online gaming community a big, big present," writes I. Nelson Rose, a Whittier Law School professor who blogs at gamblingandthelaw.com. "My bet is that … Congress will continue to do nothing, while Internet gambling explodes across the nation, made legal under state laws."
The US has outlawed online "real money" poker since 2006, and in April the Justice Department charged three major online operators with fraud and money laundering for disguising bets as every-day credit-card payments. In a letter accompanying its announcement on Friday, the Justice Department noted that the new interpretation of law "will not undermine the Department's efforts to prosecute organized criminal networks. The significant majority of our current and past prosecutions concerning Internet gambling involve cases where the gambling activity is part of a larger criminal scheme." Nevertheless, the decision is a boon to states and gambling interests trying to capture revenues from online gamblers, including the 20 percent of college students whom the Annenberg Public Policy Center found play online poker at least a month. The day before the Justice Department announcement, Nevada gambling regulators voted to approve first-in-the-nation state online poker regulations, aimed only at players within the state. Illinois has also moved forward with online gambling regulations, seeing the DOJ announcement as vindication for its legal arguments about how the Wire Act pertains to online gambling. Under the Bush administration, Illinois was informed that selling lottery tickets online would be a violation of the federal Wire Act.
In addition to Nevada, New York, and Illinois, the early-voting presidential primary states of Iowa and New Hampshire hope to expand state lotteries to include games, predicts Professor Rose. Cash-strapped California is another likely player, as is New Jersey, where a referendum on the issue is likely after Gov. Chris Christie (R) vetoed an online gambling law passed by the Democratic-controlled state legislature.
While the Justice Department ruling does not specifically address interstate gambling, legal experts say it's likely to be allowed, at least between states that specifically regulate online gambling.
"States have felt handcuffed by this ambiguity that surrounded this issue," Melissa Riahei, a former general counsel for the Illinois state lottery and now an online poker lobbyist, told The Wall Street Journal. "What this does is it really removes the handcuffs the states have had on them that prevented them from fully utilizing this asset they've had for the demographic of casual gamers to play the lottery every day."
States' efforts to sanction the growth of online gambling has one unique critic: Sheldon Adelson, owner of Las Vegas Sands Casino and one of the world's richest men. Mr. Adelson said in interviews this month that he sees state-sanctioned online poker partly as a threat to traditional casino gambling.
But he has also couched his opposition in both moral and technological terms, arguing that loosening the reins on online gambling will take a heavy toll on young people, especially because he believes current technology isn't robust enough to keep children from betting real money using their computers.
"The ordinary meaning of the phrase 'sporting event or contest' does not encompass lotteries," wrote Assistant Attorney General Virginia Seitz. "Accordingly, we conclude that the proposed lotteries are not within the prohibitions of the Wire Act."
With global online gambling now worth an estimated $30 billion, and with online poker worth a potential $6 billion annually in the US, some are heralding the decision as a means for financially strapped states to leverage new revenue from legalized online gambling – and stave off at least some cuts to bureaucracies, entitlements, and public employee pension systems.
But gambling critics see the move as another major crack in America's moral foundation, opening the way for states to become further dependent upon tax revenues gained from a form of recreation that hits hardest those who can least afford it. In that light, the new US stance may prompt Congress to enact laws aimed at helping to curb addiction and to prevent children from becoming involved in online gambling, even while allowing "casual" gamblers more options and opportunities to play. So far, Congress has folded on a handful of proposed Internet gambling measures.
"The United States Department of Justice has given the online gaming community a big, big present," writes I. Nelson Rose, a Whittier Law School professor who blogs at gamblingandthelaw.com. "My bet is that … Congress will continue to do nothing, while Internet gambling explodes across the nation, made legal under state laws."
The US has outlawed online "real money" poker since 2006, and in April the Justice Department charged three major online operators with fraud and money laundering for disguising bets as every-day credit-card payments. In a letter accompanying its announcement on Friday, the Justice Department noted that the new interpretation of law "will not undermine the Department's efforts to prosecute organized criminal networks. The significant majority of our current and past prosecutions concerning Internet gambling involve cases where the gambling activity is part of a larger criminal scheme." Nevertheless, the decision is a boon to states and gambling interests trying to capture revenues from online gamblers, including the 20 percent of college students whom the Annenberg Public Policy Center found play online poker at least a month. The day before the Justice Department announcement, Nevada gambling regulators voted to approve first-in-the-nation state online poker regulations, aimed only at players within the state. Illinois has also moved forward with online gambling regulations, seeing the DOJ announcement as vindication for its legal arguments about how the Wire Act pertains to online gambling. Under the Bush administration, Illinois was informed that selling lottery tickets online would be a violation of the federal Wire Act.
In addition to Nevada, New York, and Illinois, the early-voting presidential primary states of Iowa and New Hampshire hope to expand state lotteries to include games, predicts Professor Rose. Cash-strapped California is another likely player, as is New Jersey, where a referendum on the issue is likely after Gov. Chris Christie (R) vetoed an online gambling law passed by the Democratic-controlled state legislature.
While the Justice Department ruling does not specifically address interstate gambling, legal experts say it's likely to be allowed, at least between states that specifically regulate online gambling.
"States have felt handcuffed by this ambiguity that surrounded this issue," Melissa Riahei, a former general counsel for the Illinois state lottery and now an online poker lobbyist, told The Wall Street Journal. "What this does is it really removes the handcuffs the states have had on them that prevented them from fully utilizing this asset they've had for the demographic of casual gamers to play the lottery every day."
States' efforts to sanction the growth of online gambling has one unique critic: Sheldon Adelson, owner of Las Vegas Sands Casino and one of the world's richest men. Mr. Adelson said in interviews this month that he sees state-sanctioned online poker partly as a threat to traditional casino gambling.
But he has also couched his opposition in both moral and technological terms, arguing that loosening the reins on online gambling will take a heavy toll on young people, especially because he believes current technology isn't robust enough to keep children from betting real money using their computers.
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2006/12/07
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A key D.C. Council member has asked the city’s inspector general to testify at a hearing next month on the city’s first-in-the-nation efforts to offer online gambling through its lottery system.
Jack Evans, Ward 2 Democrat, scheduled a hearing before his Committee on Finance and Revenue for Jan. 26 to get answers to the tough questions about the program now that the D.C. Lottery has held its meetings and will have generated a report for the council.
“We’ve said all along we’re waiting for guidance from the council,” lottery Director Buddy Roogow said last week.
Mr. Evans wants to know how the system will work, what the lottery learned from its public meetings and what are the potential budget risks if the program does not go forward.
Plans to establish online gambling through the D.C. Lottery have generated controversy since the council approved the program in a supplemental budget bill last December. It put lottery officials in the awkward position of forging ahead with the council’s mandate, even as members of the public question the social consequences of online gambling and the lack of public input before its passage.
“Do we give the council a chance to vote on this thing in the sunshine, now that we know all the facts, or do we want to implement this as it is since it passed” into law?” Mr. Evans said last week.
Meanwhile, the legality of the program and its role as a revenue generator in D.C. or any U.S. state received a big boost Friday.
The Justice Department issued an opinion that opens the door to online gaming via state lottery systems, a reversal from its previous position, in addressing whether Illinois and New York can use out-of-state transaction processors to sell lottery tickets to adults within their respective borders.
The federal agency said states’ use of data centers outside their borders does not violate the Wire Act of 1961 because they are not delving into sports wagering.
Its reasoning appears to echo D.C. Attorney General Irvin B. Nathan’s opinion in June that the District’s iGaming program is legally sound as long as play remains within the city’s borders.
Mr. Evans did not want to schedule a hearing until he received a report from D.C. Inspector General Charles J. Willoughby on the program and until the overall lottery contract was awarded. Mr. Willoughby suggests the report should be out by mid-January.
“I want to hear about the iGaming piece of it,” Mr. Evans said. “Is there anything they found out, that they now know, and I don’t know?”
Other testimony at the John A. Wilson Building is expected to address iGaming’s implementation in general and a bill by council member Tommy Wells, Ward 6 Democrat, to repeal the program altogether.
Lottery officials say they have no plans to change the main components of iGaming based on a series of community events to address concerns about the program, which allows approved users to wager money and play on their home computers or on their laptops in certain public areas.
However, they decided not to host iGaming on the city’s DC-NET fiber optic network, and reduced from six to four the number of games planned when the program makes its debut. Mr. Evans said he wants his colleagues to weigh in on the iGaming, even if it makes them uncomfortable.
“I’m sure there are a lot of people who want to duck this issue, pretend it will go away,” he said. “But it’s not.”
Jack Evans, Ward 2 Democrat, scheduled a hearing before his Committee on Finance and Revenue for Jan. 26 to get answers to the tough questions about the program now that the D.C. Lottery has held its meetings and will have generated a report for the council.
“We’ve said all along we’re waiting for guidance from the council,” lottery Director Buddy Roogow said last week.
Mr. Evans wants to know how the system will work, what the lottery learned from its public meetings and what are the potential budget risks if the program does not go forward.
Plans to establish online gambling through the D.C. Lottery have generated controversy since the council approved the program in a supplemental budget bill last December. It put lottery officials in the awkward position of forging ahead with the council’s mandate, even as members of the public question the social consequences of online gambling and the lack of public input before its passage.
“Do we give the council a chance to vote on this thing in the sunshine, now that we know all the facts, or do we want to implement this as it is since it passed” into law?” Mr. Evans said last week.
Meanwhile, the legality of the program and its role as a revenue generator in D.C. or any U.S. state received a big boost Friday.
The Justice Department issued an opinion that opens the door to online gaming via state lottery systems, a reversal from its previous position, in addressing whether Illinois and New York can use out-of-state transaction processors to sell lottery tickets to adults within their respective borders.
The federal agency said states’ use of data centers outside their borders does not violate the Wire Act of 1961 because they are not delving into sports wagering.
Its reasoning appears to echo D.C. Attorney General Irvin B. Nathan’s opinion in June that the District’s iGaming program is legally sound as long as play remains within the city’s borders.
Mr. Evans did not want to schedule a hearing until he received a report from D.C. Inspector General Charles J. Willoughby on the program and until the overall lottery contract was awarded. Mr. Willoughby suggests the report should be out by mid-January.
“I want to hear about the iGaming piece of it,” Mr. Evans said. “Is there anything they found out, that they now know, and I don’t know?”
Other testimony at the John A. Wilson Building is expected to address iGaming’s implementation in general and a bill by council member Tommy Wells, Ward 6 Democrat, to repeal the program altogether.
Lottery officials say they have no plans to change the main components of iGaming based on a series of community events to address concerns about the program, which allows approved users to wager money and play on their home computers or on their laptops in certain public areas.
However, they decided not to host iGaming on the city’s DC-NET fiber optic network, and reduced from six to four the number of games planned when the program makes its debut. Mr. Evans said he wants his colleagues to weigh in on the iGaming, even if it makes them uncomfortable.
“I’m sure there are a lot of people who want to duck this issue, pretend it will go away,” he said. “But it’s not.”
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Recently, it was revealed that the Obama administration will make it easier for US states to legalize Internet poker and certain other online betting – a move that could impact small cap casino gaming equipment stocks like Shuffle Master (NASDAQ: SHFL), Multimedia Games Holding Company (NASDAQ: MGAM) and PokerTek (NASDAQ: PTEK) (Also check out: Internet Gambling and Online Poker Law Changes Eyed: “A Look at Casino Gaming Equipment Stocks IGT, SGMS & WMS”). Specifically, a Justice Department opinion from September that was just made public on Friday would reverse decades of previous policies to charge operators of online poker sites with civil and criminal charges since online gambling in all forms is considered illegal under the Wire Act of 1961 – an act that specifically bars wagers via telecommunications that cross state or international borders. However, I. Nelson Rose, a gaming law expert at Whittier Law School, has written on his Gambling and the Law blog that if the Wire Act is limited to just bets on sports events and races, there pretty much aren’t any federal anti-gambling statutes left on the books. Hence and if people can gamble from the comfort of their own homes, should investors or traders consider small cap casino gaming equipment stocks Shuffle Master (SHFL), Multimedia Games Holding Company (MGAM) and PokerTek (PTEK)? Here is a closer look at all three to help you decide:
Shuffle Master (NASDAQ: SHFL)
Shuffle Master develops, manufactures and markets technology and entertainment-based products for the gaming industry for placement on the casino floor. Specifically, Shuffle Master started out making card shuffling systems and related products and has since moved into selling entire gaming systems. And while this may seem like a good diversification move, it also puts Shuffle Master in direct competition with larger industry players. Nevertheless and last Tuesday, Shuffle Master reported a “blockbuster fourth quarter” as revenue increased year-over-year by 12% from $58.6 million to a record $65.7 million while GAAP net income rose 71% year-over-year from $5.7 to a record $9.7 million. Shuffle Master’s revenue for the entire fiscal year rose 13% to $227.8 million (56% from outside the USA), GAAP net income increased to $31.6 million from $23.1 million and net debt fell to $17.1 million - $39.2 million lower than the end of fiscal year 2010 and the the lowest since 2003. Shuffle Master’s CFO also noted the company’s ability to generate strong cash flow. On Friday, Shuffle Master fell 0.25% to $11.79 (SHFL has a 52 week trading range of $7.35 to $12.21 a share) for a market cap of $638.50 million but the stock is still up over 7% since reporting earnings.
Multimedia Games Holding Company (NASDAQ: MGAM)
Multimedia Games Holding Company designs, manufactures and supplies standalone and networked gaming systems that are used by Native American and commercial casino operators as well as state lottery operators in North America. However, the bulk of Multimedia Games Holding Company’s business comes from Native American casino operators and in a recent interview, MGAM’s CEO has noted that the performance of this market has varied with Oklahoma being strong and Washington holding up while the California market has not fared so well. Otherwise and for the fiscal forth quarter, Multimedia Games Holding Company reported revenue of $35.7 million verses revenue of $30.5 million for the same period last year while total revenues for fiscal 2011 rose 8.4% to $127.9 million. On the other hand, fiscal forth quarter net income fell from $12.0 million to $3.1 million – apparently due to a one time net tax benefit of $14.1 million and $14.4 million respectively. However, total net income for the year came in at $5.7 million verses $2.6 million. For fiscal 2012, Multimedia Games Holding Company expects unit sales to increase 10% to 15% with modest growth in total revenues that will be offset by a decline in deferred revenue while diluted EPS will increase approximately 15% to 30% year-over-year. On Friday, Multimedia Games Holding Company fell 0.50% to $7.90 (MGAM has a 52 week trading range of $3.87 to $7.99 a share) for a market cap of $212 million.
PokerTek (NASDAQ: PTEK)
PokerTek develops, manufactures and markets of electronic table games and related products for casinos, cruise lines, racinos, card clubs and lotteries worldwide. For 3Q2011, PokerTek reported that total revenue increased 13% year-over-year from $1.4 million to $1.6 million while the company’s net loss improved 20% to $0.5 million from $0.6 million (PTEK also ended the quarter with total cash of $0.8 million and total debt of $0.7 million). PokerTek’s CEO noted that operating results continued to strengthen in the third quarter as lower Mexico revenue was offset by revenue growth in Europe, Africa, North America and from cruise ships. PokerTek’s CEO expects Mexico to remain closed to electronic table games for atleast several months – impacting results for the first half of 2012. However, PokerTek also expects their higher margin business in Europe, Canada and the US along with that from cruise ships will continue to grow while future regulatory approval for a new gaming platform will “significantly increase” longer-term growth opportunities. On Friday, PokerTek rose 7.18% to $0.730 (PTEK has a 52 week trading range of $0.46 to $2.05 a share) for a market cap of $5.38 million.
The Bottom Line. Its too early to tell how any plans to reinterpret Internet poker and certain other online betting laws will impact the casino gaming equipment industry but small cap players Shuffle Master (SHFL), Multimedia Games Holding Company (MGAM) and PokerTek (PTEK) are at least worth watching.
Shuffle Master (NASDAQ: SHFL)
Shuffle Master develops, manufactures and markets technology and entertainment-based products for the gaming industry for placement on the casino floor. Specifically, Shuffle Master started out making card shuffling systems and related products and has since moved into selling entire gaming systems. And while this may seem like a good diversification move, it also puts Shuffle Master in direct competition with larger industry players. Nevertheless and last Tuesday, Shuffle Master reported a “blockbuster fourth quarter” as revenue increased year-over-year by 12% from $58.6 million to a record $65.7 million while GAAP net income rose 71% year-over-year from $5.7 to a record $9.7 million. Shuffle Master’s revenue for the entire fiscal year rose 13% to $227.8 million (56% from outside the USA), GAAP net income increased to $31.6 million from $23.1 million and net debt fell to $17.1 million - $39.2 million lower than the end of fiscal year 2010 and the the lowest since 2003. Shuffle Master’s CFO also noted the company’s ability to generate strong cash flow. On Friday, Shuffle Master fell 0.25% to $11.79 (SHFL has a 52 week trading range of $7.35 to $12.21 a share) for a market cap of $638.50 million but the stock is still up over 7% since reporting earnings.
Multimedia Games Holding Company (NASDAQ: MGAM)
Multimedia Games Holding Company designs, manufactures and supplies standalone and networked gaming systems that are used by Native American and commercial casino operators as well as state lottery operators in North America. However, the bulk of Multimedia Games Holding Company’s business comes from Native American casino operators and in a recent interview, MGAM’s CEO has noted that the performance of this market has varied with Oklahoma being strong and Washington holding up while the California market has not fared so well. Otherwise and for the fiscal forth quarter, Multimedia Games Holding Company reported revenue of $35.7 million verses revenue of $30.5 million for the same period last year while total revenues for fiscal 2011 rose 8.4% to $127.9 million. On the other hand, fiscal forth quarter net income fell from $12.0 million to $3.1 million – apparently due to a one time net tax benefit of $14.1 million and $14.4 million respectively. However, total net income for the year came in at $5.7 million verses $2.6 million. For fiscal 2012, Multimedia Games Holding Company expects unit sales to increase 10% to 15% with modest growth in total revenues that will be offset by a decline in deferred revenue while diluted EPS will increase approximately 15% to 30% year-over-year. On Friday, Multimedia Games Holding Company fell 0.50% to $7.90 (MGAM has a 52 week trading range of $3.87 to $7.99 a share) for a market cap of $212 million.
PokerTek (NASDAQ: PTEK)
PokerTek develops, manufactures and markets of electronic table games and related products for casinos, cruise lines, racinos, card clubs and lotteries worldwide. For 3Q2011, PokerTek reported that total revenue increased 13% year-over-year from $1.4 million to $1.6 million while the company’s net loss improved 20% to $0.5 million from $0.6 million (PTEK also ended the quarter with total cash of $0.8 million and total debt of $0.7 million). PokerTek’s CEO noted that operating results continued to strengthen in the third quarter as lower Mexico revenue was offset by revenue growth in Europe, Africa, North America and from cruise ships. PokerTek’s CEO expects Mexico to remain closed to electronic table games for atleast several months – impacting results for the first half of 2012. However, PokerTek also expects their higher margin business in Europe, Canada and the US along with that from cruise ships will continue to grow while future regulatory approval for a new gaming platform will “significantly increase” longer-term growth opportunities. On Friday, PokerTek rose 7.18% to $0.730 (PTEK has a 52 week trading range of $0.46 to $2.05 a share) for a market cap of $5.38 million.
The Bottom Line. Its too early to tell how any plans to reinterpret Internet poker and certain other online betting laws will impact the casino gaming equipment industry but small cap players Shuffle Master (SHFL), Multimedia Games Holding Company (MGAM) and PokerTek (PTEK) are at least worth watching.
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2006/12/07
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Manne wrote:
They won't the bi win
Thank you Manne for you idea. You can still post any idea here?:thumbsup
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2011/12/14
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The gaming sector traded up sharply today on reports that a Department of Justice opinion could open the door to legalized online gambling.
The Department of Justice's opinion was sought as New York and Illinois seek permission to bring their lotteries online.
"Because the proposed New York and Illinois lottery proposals do not involve wagering on sporting events or contests, the Wire Act does not prohibit them," Virginia Seitz, assistant attorney general responded.
Though most U.S. pure-plays in gaming, like Wynn and MGM, are focused on brick-and-mortar casinos, a changed ruling could represent a large new revenue stream — although off-shore competition would likely intensify.
Five companies saw share gains of at least 3% during the day, led by Boyd Gaming's 10% jump.
Boyd Gaming (NYSE: BYD): Up 9.8% to $7.63
MGM Resorts (NYSE: MGM): Up 4.6% to $10.42
Pinnacle Entertainment (NYSE: PNK): Up 3.0% to $10.38
Trans World Corporation (PINK: TWOC): Up 9.3% to $2.95
Wynn Resorts (NASDAQ: WYNN): Up 3.2% to $113.53
The Department of Justice's opinion was sought as New York and Illinois seek permission to bring their lotteries online.
"Because the proposed New York and Illinois lottery proposals do not involve wagering on sporting events or contests, the Wire Act does not prohibit them," Virginia Seitz, assistant attorney general responded.
Though most U.S. pure-plays in gaming, like Wynn and MGM, are focused on brick-and-mortar casinos, a changed ruling could represent a large new revenue stream — although off-shore competition would likely intensify.
Five companies saw share gains of at least 3% during the day, led by Boyd Gaming's 10% jump.
Boyd Gaming (NYSE: BYD): Up 9.8% to $7.63
MGM Resorts (NYSE: MGM): Up 4.6% to $10.42
Pinnacle Entertainment (NYSE: PNK): Up 3.0% to $10.38
Trans World Corporation (PINK: TWOC): Up 9.3% to $2.95
Wynn Resorts (NASDAQ: WYNN): Up 3.2% to $113.53
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2006/12/07
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29893
FOLLOWING the lead of Denmark, which will usher in a new era in online gambling on January 1, Spain is set to become the next European country to fully implement industry reforms. And with one of the biggest markets in Europe, some are predicting Spain’s online gambling industry will boom in the next five years.
Denmark is leading the way in Europe, after the country’s gambling authority issued 55 licenses to 38 operators, who will all begin offering their services on January 1. Although nine Danish companies received licenses, the announcement was more notable for the fact that a majority of the licensees – including 888, PokerStars and Betfair – are from abroad.
Likewise, Spain has been heading down the path of liberalisation for some time. In the new year, the government will begin to issue online gambling licenses to operators, and it is believed those operators will be able to begin operating shortly afterward. Spain’s internet gambling reforms were approved by parliament earlier this year.
After Germany, France and Italy, Spain’s is the largest economy on the European continent, so it is no surprise that foreign operators are salivating at the prospect of getting a piece of the country’s gambling market.
According to a report just released by the Media and Entertainment Consulting Network (MECN), Spain’s online gambling market will not only be a success, but will grow to be worth around 680 million euros by 2015.
The Spanish market has a high relevance for the industry, with 80% of major operators likely to apply for a license, the report said. It said conditions in Spain – where gambling taxes are a lot 25% of gross revenue – make it more attractive than France, and lead online gambling operators to believe a Spanish license will pay off eventually.
The report said another reason operators are putting Spain on top of the agenda is that the country is ready to start right now, whereas in Europe’s largest potential gambling market – Germany – legislators are still divided over the issue and liberalisation is being stalled.
Denmark is leading the way in Europe, after the country’s gambling authority issued 55 licenses to 38 operators, who will all begin offering their services on January 1. Although nine Danish companies received licenses, the announcement was more notable for the fact that a majority of the licensees – including 888, PokerStars and Betfair – are from abroad.
Likewise, Spain has been heading down the path of liberalisation for some time. In the new year, the government will begin to issue online gambling licenses to operators, and it is believed those operators will be able to begin operating shortly afterward. Spain’s internet gambling reforms were approved by parliament earlier this year.
After Germany, France and Italy, Spain’s is the largest economy on the European continent, so it is no surprise that foreign operators are salivating at the prospect of getting a piece of the country’s gambling market.
According to a report just released by the Media and Entertainment Consulting Network (MECN), Spain’s online gambling market will not only be a success, but will grow to be worth around 680 million euros by 2015.
The Spanish market has a high relevance for the industry, with 80% of major operators likely to apply for a license, the report said. It said conditions in Spain – where gambling taxes are a lot 25% of gross revenue – make it more attractive than France, and lead online gambling operators to believe a Spanish license will pay off eventually.
The report said another reason operators are putting Spain on top of the agenda is that the country is ready to start right now, whereas in Europe’s largest potential gambling market – Germany – legislators are still divided over the issue and liberalisation is being stalled.
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2006/12/07
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The Australian government is still debating what to do for its citizens who like to wager a few dollars. The review of the Interactive Gambling Act of 2001 is paramount in making the country safe and secure as far as gambling is concerned. The review is a three-tier process that includes, the Productivity Commission Inquiry Report on Gambling (released in June 2010); the Parliamentary Joint Select Committee on Gambling Reform report (released 8 December 2011); and the Department of Broadband, Communication and Digital Economy review of the Interactive Gambling Act 2001which is currently underway and expected to be released in the first half of 2012. This Department Review is expected to take into consideration any relevant findings of the Joint Select Committee Report and the Productivity Commission Inquiry Report.
The final report has been tabled with the submission of the Joint Select Committee input. The Interactive Gambling and Broadcasting Amendment (Online Transactions and Other Measures) Bill 2011, which was introduced in the Senate on 20 June 2011 by Senator Xenophon to amend the IGA and the Broadcasting Services Act 1992 was not passed as recommended by the Joint Select Committee.
The Department Review Discussion Paper, the Productivity Commission Report and the Joint Select Committee Report are not very compatible on the topic of amending the Interactive Gambling Act to ensure that problem gambling is addressed properly in the online segment. All three reviews are in agreement that more in depth study should be undertaken to understand the impact that internet gambling has on the issue of problem wagering. The Joint Select Committee recommends that, as a part of the review of the IGA national research into online gambling, should be obtained.
It was also recommended that new gambling opportunities which are being facilitated by technological advancements and in particular those which young people have access too such as Facebook and the proliferation of mobile gaming, should be researched by the current Department Review Committee. Its findings are now in the hands of the Minister for Broadband, Communications and the Digital Economy which will draw some conclusions sometime in the first half of 2012.
The final report has been tabled with the submission of the Joint Select Committee input. The Interactive Gambling and Broadcasting Amendment (Online Transactions and Other Measures) Bill 2011, which was introduced in the Senate on 20 June 2011 by Senator Xenophon to amend the IGA and the Broadcasting Services Act 1992 was not passed as recommended by the Joint Select Committee.
The Department Review Discussion Paper, the Productivity Commission Report and the Joint Select Committee Report are not very compatible on the topic of amending the Interactive Gambling Act to ensure that problem gambling is addressed properly in the online segment. All three reviews are in agreement that more in depth study should be undertaken to understand the impact that internet gambling has on the issue of problem wagering. The Joint Select Committee recommends that, as a part of the review of the IGA national research into online gambling, should be obtained.
It was also recommended that new gambling opportunities which are being facilitated by technological advancements and in particular those which young people have access too such as Facebook and the proliferation of mobile gaming, should be researched by the current Department Review Committee. Its findings are now in the hands of the Minister for Broadband, Communications and the Digital Economy which will draw some conclusions sometime in the first half of 2012.
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2006/12/07
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29893
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In a unanimous vote today the Nevada Gaming Commission passed rules to control online poker.
News 3’s Sergio Avila was at the meeting and is here to tell us what will happened.
The state legislature mandated the gaming commission and control board to adopt internet poker regulations before the end of January of next year. They finished ahead of schedule in what many people are calling a historic move for the state.
Nevada's goal was to continue being the gold standard when it comes to gaming in the United States.
As gaming commissioners voted to adopt online gaming regulation, Chairman Peter Berhard said the state is now ready for the future of gaming.
"We're not sure if it's going to happen or when it's going to happen but we want to be ready when and if it's appropriate," Bernard said.
They don't know what's going to happen because online gambling is still illegal.
The idea was to make sure nevada is able to get the business if and when it's legalized. The regulations went into effect immediately but don't expect to be able to gamble online any time soon.
"There's not going to be anyone turning on machines to gamble on the Internet either interstate or intrastate in poker in the near future," Bernard said. "But at least the framework is there to allow the process to continue so we're ready when and if an applicant before us meets our standards."
Some have argued online gambling could deal a blow to the brick and mortar casinos.
Cantor Gaming CEO Lee Amaitis thinks the opposite.
“I don't personally believe that it'll displace the experience of the experience to come to a grand resort,” Amaitis said. “So there are online players and people who are looking for the entertainment value of a resort.
Applicants for online gaming licenses have to prove their sites are safe, will prevent crimes like money laundering, and help stop problem and underage gambling.
Carol O'Hare of the Nevada Council on Problem Gambling says regulating online poker is the right play.
“We know people gamble online with or without regulation so with the fact Nevada is creating a regulatory framework and the fact that framework includes concern about underage and problem gambling,” O’Hare said. “I don't think that's scary. I think that's appropriate and i think it's definitely going to set a standard for the rest of the country to consider.”
The gaming control board tells us they've already received a few applications for online gaming licenses although it's still illegal on the Federal level. These regulations adopted today could pave the way for poker sites that operate strictly in Nevada for people living here.