• US, Antigua Both Claim Victory Following WTO Ruling

The World Trade Organization's Appellate Body today filed its report on the dispute between the United States and Antigua and Barbuda and in doing so upheld a November dispute panel decision that cross-border gambling services fall within the scope of the General Agreement on Trade in Services (GATS). The ruling recognizes that the U.S. Wire Act, Travel Act and Illegal Gambling Business Act fulfill the purpose of protecting public morals and maintaining public order, but the inevitable conclusion is that the prohibitions embodied in those measures are not applied equally to both foreign and domestic service suppliers of remote horseracing betting services. The panel, therefore, advises that the United States bring its federal laws governing remote gambling into conformity with its obligations under the GATS. The inconsistency is drawn from the U.S. Interstate Horseracing Act, which permits American race wagering operators to provide account wagering services over the Internet. To the Appellate Body, this means that the United States treats domestic operators of online gambling more favorably than Antigua's operators. The United States has two options if it wishes to bring itself into conformity with its GATS commitments: Prohibit all gambling over the Internet, including those services offered by domestic account wagering providers, or allow Antiguan gambling providers to provide their services to American citizens. [...]

> Read the full story here Source : iGamingNews.com

• British Initiative To Regulate Remote Gambling Welcomed By IGC

Two developments last week demonstrate how the United States is out of step with much of the world when it comes to handling the challenges posed by online gambling, the Interactive Gaming Council said in a press release following the successful passage of the UK Gambling Bill. One was the passage of the United Kingdom gambling reform legislation and the other was the final decision of the World Trade Organization regarding Antigua's complaint that the U.S. prohibition of Internet gambling violates U.S. commitments under the GATS, the General Agreement on Trade in Services. The reform of the UK's antiquated collection of gambling laws includes provisions for licensing and regulating remote (interactive) gambling to include Internet casinos, sportsbooks, betting exchanges and poker. The law creates a powerful new Gambling Commission that will have the authority to ensure that licensed remote gambling businesses are operated fairly. The Commission will also ensure that criminal activity such as money laundering is prevented and that players are protected by harm minimization measures, not the least of which are blocking minors from gambling at these sites and mitigating problem gambling. "This long-awaited reform in the UK is a huge step forward for the cause of regulated remote gambling," said Rick Smith, executive director of the IGC. "Finally a first world government, one that has successfully regulated terrestrial gambling for years, is taking responsibility for the regulation of this rapidly growing form of gambling. Rather than fighting it, as is the U.S. approach, or pretending it will go away, the British are stepping up to the challenge of regulation." [...]

> Read the full story here Source : InfoPowa News

• Gaming Corporation PLC UK Acquires Got2bet.com

LONDON -- (PRESS RELEASE) -- The Board of Gaming Corporation plc ("Gaming Corp" or "the Company"), the owner of the UK's number 1 gaming site www.casino.co.uk, announces the acquisition of Got2bet.com, a leading international Gaming portal. Got2Bet is one of the most recognized and innovative online gambling portals. Established in March 2000, Got2Bet is a key source of online casino information in English and Chinese, with extensive online casino reviews and ratings, news, and message boards. For the six months ending 31 January 2005, Got2bet.com generated a net profit of US$106,340. Consideration of US$270,000 for the acquisition will be satisfied in cash with an initial payment of US$120,000 and three equal instalments of US$50,000 payable two months, four months and six months after completion. Further payments calculated as 50% of the first 6 months profits will also be paid as part of the consideration. Got2Bet's pioneering concepts include the progressive jackpot tickers and pull downs which are now seen all over the internet. Special contests and promotions are staged on the site such as the Mystery Casino promotion (in conjunction with Casinomeister.com). Got2Bet was also the first gaming portal to feature a free Flash-based casino. Its latest innovation was the online ad space auction (with Casinomeister.com) in which the two sites raised $111,000 from winning bidder Intercasino.com for tsunami relief efforts. The founder of Got2Bet, Ted Loh is recognized as one of the leading experts in the online gambling industry, and in particular for his extensive knowledge of the Asian market. He has spoken and moderated sessions at more than 15 gaming conferences in the past three years on topics ranging from Asian marketing to mobile gambling and affiliate marketing, and has made presentations on Asian land-based gambling as well. Justin Drummond, commenting on the acquisition, said; "Got2bet has an international customer base which opens a new market place for Gaming Corporation; the application of our technology, marketing and sales infrastructure will allow Got2bet to grow substantially over the coming months." "We are very excited to be working with Ted, who is widely regarded as an industry expert; his advice and knowledge of the online gaming market with be of significant benefit to the Group". Ted Loh Commented: "Got2Bet will benefit strongly from the extensive resources that Gaming Corporation has at its disposal." "I am excited at the prospect of working closely with Gaming Corp to take Got2Bet to new heights which simply would not have been possible without their support." Further to our stated strategy of acquiring profitable online gaming operations the Company will be seeking shareholder approval for authority to issue and allot further new Ordinary Shares. Notice of an Extraordinary General Meeting of the Company at which the appropriate resolutions will be proposed is therefore being posted to shareholders today.

> Read the full story here Source : Press Release

• Online Flutters Fuel New Dotcom Boom

Dotcom frenzy is back. Blue-chip investment banks are queuing up to explore multibillion-pound flotation opportunities and investors are chomping at the bit to back technology businesses. Five years after the dotcom bubble burst, a new breed of internet firms is set to storm markets. There is, though, one big difference from the last bubble. These e-businesses are from one specific sector - gambling. They are based almost without exception in tax havens and are wildly profitable. What's more, they are only at the foothills of a growth curve that could soar, over the next five years, to unimaginable heights. The City's love affair with internet gambling began last January. Then Party Gaming, which owns Partypoker.com - the world's biggest internet poker firm with 5 million registered users and a 55 per cent market share - intimated it was looking to float. Based in Gibraltar, it is expected to issue shares in May creating a £3 billion public company and, in one leap, enter the FTSE 100. Its four owners - all in their thirties - include the former internet porn businesswoman, Ruth Parasol. Between them they stand to share well over £1bn, depending on how much they intend to plough back into the business. Party Gaming is likely to be the first major internet business to float. Snapping at its heels will be Cassava Enterprises, which owns another poker site, 888.com, and could raise close to £1bn. It is owned by two Israelis and is again based in Gibraltar, escaping tax. [...]

> Read the full story here Source : Guardian.co.uk

PLAY & ENJOY NOW the most favored online casino by American players! Las Vegas USA Casino offers everything you wish from a Las-Vegas-style online casino - a generous 150% bonus up to $3,000 at welcome, more than 120+ thrilling and fun games with fast and various blackjack tables, huge progressive jackpots and much more - discover today one of THE BEST ONLINE GAMING DESTINATION ACTUALLY!