Australian online betting companies have called for the relaxation of online gambling laws, claiming the regulations restrict them from competing with offshore companies.
In its submission to the Federal Government’s review of the Interactive Gambling Act 2001 (IGA), online betting company Sportsbet claimed the regulations should be amended to allow Australian-based websites to offer “in-the-run” betting, which refers to the placing of bets once an even has commenced.
“Betting after an event has commenced is available over the phone and in retail outlets in Australia,” the submission reads.
“With Australian-based websites prohibited from offering betting in the run in online, Australians are choosing to place bets in the run online through unregulated overseas websites.”
The company claims the issue is separate from that of the broader online gaming debate, and that it is simply an issue of platform neutrality as this form of betting already exists over the phone and in TAB retail outlets.
“Sportsbet urges government to address this issue as a matter of urgency and allow betting in the run online with Australian registered wagering operators.
“This would achieve the stated goal of platform neutrality, remove a major disadvantage to licensed Australian online wagering operators and allow Australian consumers to bet in the run safely.”
Fellow online wagering firm, Betfair, has joined Sportsbet in the push for the removal of the restrictions around online in-play betting online as well as online interactive games.
“This approach would ensure that the issues surrounding problem gambling and integrity in sporting contests can be managed more effectively from within Australia,” Betfair’s submission reads. “Further, Australian consumers of these services would be afforded enhanced consumer protection, tax revenues would remain in Australia and can be used to fund problem gambling programs and research projects and Australian operators will be able to compete with offshore gambling operators on an even playing field.”
“One key reason that the IGA is presently ineffective is that it failed to regulate services, and instead focused on the methods by which those services are delivered (e.g. telephone, internet) and therefore became antiquated on a rapid basis.”
According to Sportsbet the prohibition of Australian-based websites offering online gaming is ineffective in reducing problem gambling as Australian continue to spend in the order of $1 billion annually on online gaming through unregulated offshore sites.
Also weighing in on the topic with its submission was Tabcorp, which was in agreement with its competitors and stated online gambling must be deregulated so Australian are not forced to bet with offshore operators.
“This will also enable domestic operators to compete on a level playing field where player protection standards can be assured.”
Tabcorp also claimed a national code of conduct for wagering and sports betting should be established to cover elements of the industry including marketing, credit betting, the offering of financial inducements to open an account and to convey messages of responsible gambling, self-exclusion and compliance with the code.
The call comes at a time when the focus on problem gambling has been fixed on implementing controls on poker machines to eliminate problem gambling.
The Federal Government has continued the upward battle to implement its mandatory pre-commitment scheme with all states, except Tasmania, complaining that it should remain optional.
The scheme would require patrons to nominate their maximum losses before they started playing the pokies.
November 08, 2011
PokerStars targets new online poker world record
Online poker room PokerStars is looking to beat its own Guinness World Record for the largest ever online poker tournament, with a new record attempt set to take place on Sunday December 4th.
PokerStars last beat the record for the largest ever online poker tournament back in December 2009 when 149,196 players took part in a tournament arrange two days after Christmas. This was more than double the previous record of 65,000 players set earlier that year in July.
On Sunday December 4th, PokerStars will attempt to break the record again, with a $1 buy-in tournament kicking off at 12:30pm (ET). The tournament will have a $250,000 guaranteed prize pool, with $50,000 guaranteed for first place.
PokerStars will also be placing a $10 bounty on the head of every member of Team PokerStars Pro who takes part.
“It's exciting and unique to be part of a World Record,” said Team PokerStars Pro member Bertrand ‘ElkY’ Grospellier, who holds a personal Guinness World Record for most online poker tables played in one hour (62, with a profit of $23.60). “I'm looking forward to doing it again on December 4. It will be great to see so many players come together to make history once again at the world's largest poker site.”
The record attempt will be overseen and confirmed by Guinness World Records and listed in their renowned database of world bests.
PokerStars last beat the record for the largest ever online poker tournament back in December 2009 when 149,196 players took part in a tournament arrange two days after Christmas. This was more than double the previous record of 65,000 players set earlier that year in July.
On Sunday December 4th, PokerStars will attempt to break the record again, with a $1 buy-in tournament kicking off at 12:30pm (ET). The tournament will have a $250,000 guaranteed prize pool, with $50,000 guaranteed for first place.
PokerStars will also be placing a $10 bounty on the head of every member of Team PokerStars Pro who takes part.
“It's exciting and unique to be part of a World Record,” said Team PokerStars Pro member Bertrand ‘ElkY’ Grospellier, who holds a personal Guinness World Record for most online poker tables played in one hour (62, with a profit of $23.60). “I'm looking forward to doing it again on December 4. It will be great to see so many players come together to make history once again at the world's largest poker site.”
The record attempt will be overseen and confirmed by Guinness World Records and listed in their renowned database of world bests.
Commentators may be told to tone down TV betting plugs
Sport commentators would have to tell fans to "gamble responsibly" under proposed new gambling rules.
The Independent Gambling Authority has asked the gambling industry to comment on 12 ideas it is considering as part of an update to industry rules.
Networks are increasingly being paid "plug" money to cite odds during games.
"One option might be for the gambling provider to procure that the same commentators will speak, in a neutral tone, the mandatory warning message on a minimum frequency throughout sporting events," the IGA says in a discussion paper for the industry.
The IGA believes conventional television, radio and print advertising of gambling is "well comprehended" under its existing code of practice, but it may have to toughen up on emerging forms of advertising such as online, at-venue and product placement.
Uniting Care Wesley manager Mark Henley has told the IGA it should also investigate the "contempt" some betting companies show for existing warning messages.
"One company earlier this year concluded their radio advertising with a fast delivery of the following responsible gambling message: `Gamble responsibly, don't drink too much and be nice to your mother'," he said.
"The wording coupled with the delivery is clearly, in my opinion, applying ridicule to the requirement ... to include a responsible gambling message.
"A complaint was lodged with the IGA in March this year. We haven't had a reply."
Other ideas that the IGA has put to the industry for discussion include whether industry bodies to prevent problem gambling are effective, free betting credits should be banned and more training is needed for staff at gambling venues.
In a submission to the IGA inquiry, the Adelaide Casino has lobbied for continued special treatment.
It says: "Adelaide Casino requires a separate code from other sectors and deserves credit for the proven, continued success of the host responsibility co-ordinator program. We thank the authority for the faith shown in Adelaide Casino, following Review 2006 and submit that the findings remain valid."
The Independent Gambling Authority has asked the gambling industry to comment on 12 ideas it is considering as part of an update to industry rules.
Networks are increasingly being paid "plug" money to cite odds during games.
"One option might be for the gambling provider to procure that the same commentators will speak, in a neutral tone, the mandatory warning message on a minimum frequency throughout sporting events," the IGA says in a discussion paper for the industry.
The IGA believes conventional television, radio and print advertising of gambling is "well comprehended" under its existing code of practice, but it may have to toughen up on emerging forms of advertising such as online, at-venue and product placement.
Uniting Care Wesley manager Mark Henley has told the IGA it should also investigate the "contempt" some betting companies show for existing warning messages.
"One company earlier this year concluded their radio advertising with a fast delivery of the following responsible gambling message: `Gamble responsibly, don't drink too much and be nice to your mother'," he said.
"The wording coupled with the delivery is clearly, in my opinion, applying ridicule to the requirement ... to include a responsible gambling message.
"A complaint was lodged with the IGA in March this year. We haven't had a reply."
Other ideas that the IGA has put to the industry for discussion include whether industry bodies to prevent problem gambling are effective, free betting credits should be banned and more training is needed for staff at gambling venues.
In a submission to the IGA inquiry, the Adelaide Casino has lobbied for continued special treatment.
It says: "Adelaide Casino requires a separate code from other sectors and deserves credit for the proven, continued success of the host responsibility co-ordinator program. We thank the authority for the faith shown in Adelaide Casino, following Review 2006 and submit that the findings remain valid."
November 03, 2011
Bwin.Party, MGM & Boyd join forces
Bwin.party have finally come out and announced their deal in the US with MGM & Boyd Gaming and the deal looks very good for the European Operator.
The company said, “the deal was central to bwin.party’s strategy for entering the US market, subject to appropriate US legislation being passed.”
The deal would see the formation of a new entity – 65% owned by Bwin.party, 25% by MGM and 10% for Boyd – that would operate under the PartyPoker and World Poker Tour brands.
While there is no certainty that online poker legislation will be enacted in the US or when, bwin.party is preparing to enter into a preliminary suitability review in the State of Nevada.
It is understood the deal is on a 15-year business-to-business agreement with MGM & Boyd that will enable them to offer real money online poker services under their own brands in the US using the bwin.party technology platform & associated services. Under the terms of these agreements both MGM & Boyd are exclusive to bwin.party & the Bwin.party will receive a share of the online poker revenue generated by those services.
Commenting on the announcement, Jim Ryan & Norbert Teufelberger, the Co-CEOs of bwin.party, said:
“Our strategy has been designed to address any & all legislative outcomes, whether federal or state-by-state. We are particularly excited to be working with MGM & Boyd. Combining their significant assets & regulatory expertise with the strength of our PartyPoker & World Poker Tour brands, all supported by our in-house technology, makes us perfectly positioned for any future opening of the US online poker market.”
Jim Murren, Chairman & CEO of MGM Resorts International, said:
“MGM has long been supportive of Federal legislation to strengthen UIGEA & provide the needed regulations & consumer protections for online poker. MGM is proud to have bwin.party as our partner as they have the assets & experience that, combined with our brands, can ensure a secure, fair & entertaining online poker experience.”
Keith Smith, President & CEO of Boyd Gaming, said:
“We believe the right approach to offering legal online poker in the United States is through a federal regulatory structure that ensures the games are conducted with the greatest possible integrity & security. Should Congress enact legislation to legalise Internet poker, this agreement will allow us to partner with the world's most experienced & prestigious online operator to offer a secure, fair & entertaining experience for players in the United States.”
The company said, “the deal was central to bwin.party’s strategy for entering the US market, subject to appropriate US legislation being passed.”
The deal would see the formation of a new entity – 65% owned by Bwin.party, 25% by MGM and 10% for Boyd – that would operate under the PartyPoker and World Poker Tour brands.
While there is no certainty that online poker legislation will be enacted in the US or when, bwin.party is preparing to enter into a preliminary suitability review in the State of Nevada.
It is understood the deal is on a 15-year business-to-business agreement with MGM & Boyd that will enable them to offer real money online poker services under their own brands in the US using the bwin.party technology platform & associated services. Under the terms of these agreements both MGM & Boyd are exclusive to bwin.party & the Bwin.party will receive a share of the online poker revenue generated by those services.
Commenting on the announcement, Jim Ryan & Norbert Teufelberger, the Co-CEOs of bwin.party, said:
“Our strategy has been designed to address any & all legislative outcomes, whether federal or state-by-state. We are particularly excited to be working with MGM & Boyd. Combining their significant assets & regulatory expertise with the strength of our PartyPoker & World Poker Tour brands, all supported by our in-house technology, makes us perfectly positioned for any future opening of the US online poker market.”
Jim Murren, Chairman & CEO of MGM Resorts International, said:
“MGM has long been supportive of Federal legislation to strengthen UIGEA & provide the needed regulations & consumer protections for online poker. MGM is proud to have bwin.party as our partner as they have the assets & experience that, combined with our brands, can ensure a secure, fair & entertaining online poker experience.”
Keith Smith, President & CEO of Boyd Gaming, said:
“We believe the right approach to offering legal online poker in the United States is through a federal regulatory structure that ensures the games are conducted with the greatest possible integrity & security. Should Congress enact legislation to legalise Internet poker, this agreement will allow us to partner with the world's most experienced & prestigious online operator to offer a secure, fair & entertaining experience for players in the United States.”
November 02, 2011
Full Tilt Poker Deal with DOJ
Full Tilt Poker CEO Ray Bitar has sent out an email this morning to shareholders announcing a deal has been agreed with FTP and the DOJ. Here is the statement in full:
"I am pleased to announce that today the Department of Justice and Groupe Bernard Tapie have reached an agreement in principle regarding the acquisition of the companies comprising FullTiltPoker. My understanding is the deal provides that in exchange for an agreed upon payment by GBT, and a GBT commitment to assume responsibility for payment of ROW players, DoJ will reimburse US players and settle the outstanding civil litigation with the companies comprising FTP. Beyond these conditions, issues like the time frame and process for repayment of players remain unclear at this point and time.
With DoJ’s consent now in hand, GBT may now proceed to finalize an agreement to acquire the companies or assets that comprise FTP. That agreement will very likely address the status of your shares or interests in the successor company. When I receive that agreement, I will coordinate with our attorneys to ensure the terms of that proposed agreement will be shared with the membership and voted on."
"I am pleased to announce that today the Department of Justice and Groupe Bernard Tapie have reached an agreement in principle regarding the acquisition of the companies comprising FullTiltPoker. My understanding is the deal provides that in exchange for an agreed upon payment by GBT, and a GBT commitment to assume responsibility for payment of ROW players, DoJ will reimburse US players and settle the outstanding civil litigation with the companies comprising FTP. Beyond these conditions, issues like the time frame and process for repayment of players remain unclear at this point and time.
With DoJ’s consent now in hand, GBT may now proceed to finalize an agreement to acquire the companies or assets that comprise FTP. That agreement will very likely address the status of your shares or interests in the successor company. When I receive that agreement, I will coordinate with our attorneys to ensure the terms of that proposed agreement will be shared with the membership and voted on."
Pakistan spot-fixing scandal: ICC needed News of the World to supply bullets
But match-fixing is a reality with which cricket followers in other countries have learned to cope – or else they have switched off the game altogether.
In the heyday of match-fixing in England, we did not do it for anything so sordid as money. It was good old-fashioned barter: we will lose this championship game if you let us win the Sunday League match. Only on one occasion that I know of was betting involved, and that cannot be revealed here, as the law tends to bat on the side of the fixer.
But from the 1990s, according to Justice Cooke during his summing up, and a few years earlier by other reckonings, fixing for money spread through south Asia – and through quite a few cricketers from other countries who played in south Asia.
Pakistan were first to grasp this stinging nettle. In 1999 their government appointed Justice Qayyum to inquire. As usual there, nothing was straightforward: rumours circulated about the game the judge was playing, and about the pressure the government put on him to make his sentences mild.
Nevertheless, former Pakistan captain Salim Malik was banned for life in 2000. Here at last was certifiable evidence that something was rotten in the state of international cricket.
Malik still lives in Lahore but does little more than play golf, go to his club, and brood – with some reason. He is the only one still carrying the can. All the others shamed and fined by Qayyum have come again, and risen to equal heights of eminence as coaches and commentators, without a single act of contrition.
India came next, and did the best job so far. Their Central Bureau of Investigation did not, like the ICC's Anti-Corruption and Security Unit, simply wash and wring their hands. The CBI used 'robust' interrogation techniques, firstly to make the Indian bank clerk-turned-bookmaker MK Gupta sing, which he did, like a lark, telling them all about his fixes.
The CBI then grilled the Indian cricketers named by Gupta. Of course, one or two were too famous to be brought down. But at least the Indian captain, Mohammad Azharuddin, and the one-day vice-captain Ajay Jadeja, were banned, and a few more besides. Not that anyone pleaded guilty, as in Pakistan: it would be more than your life was worth to confess.
Unfortunately the CBI could not grill any of the non-Indian players that Gupta had spoken of dealing with. Most Test-playing countries had at least one international player who had dealt with him, and their boards all did an excellent job in blocking like nightwatchmen, until the media went away.
Only the mafia did not go away. The period around 2000 and 2001 when India and Pakistan held inquiries, and when the late Hansie Cronje confessed in South Africa, was the window: the moment when the sport's governing bodies, fired by the indignation of cricket followers, might just have broken the links between the south Asian mafia and the dressing-room. But there were too many skeletons in too many cupboards, the moment passed, and match-fixing became much more discreet, if no less systemic.
The King Inquiry in South Africa was a classic. The terms of reference were so limited that the lid could only be opened a little – and as soon as Cronje made a confession it was closed, so no more damage could be done to the national image. A partial confession too, some would say, as he got no further than exposing a couple of his non-white players, Herschelle Gibbs and Henry Williams.
Since then, until Tuesday, virtually nothing. In the last decade the ICC has pinned Kenya's captain, Maurice Odumbe, and banned him for five years, but that was for 'associating with a known bookmaker'. The only other player who has been banned (for two years), Marlon Samuels of the West Indies, was guilty of nothing more than naivety in talking to a punter.
The ICC have now equipped themselves to fire shots, but they needed the News of the World to supply the bullets, when their own ACSU should have done so.
In the heyday of match-fixing in England, we did not do it for anything so sordid as money. It was good old-fashioned barter: we will lose this championship game if you let us win the Sunday League match. Only on one occasion that I know of was betting involved, and that cannot be revealed here, as the law tends to bat on the side of the fixer.
But from the 1990s, according to Justice Cooke during his summing up, and a few years earlier by other reckonings, fixing for money spread through south Asia – and through quite a few cricketers from other countries who played in south Asia.
Pakistan were first to grasp this stinging nettle. In 1999 their government appointed Justice Qayyum to inquire. As usual there, nothing was straightforward: rumours circulated about the game the judge was playing, and about the pressure the government put on him to make his sentences mild.
Nevertheless, former Pakistan captain Salim Malik was banned for life in 2000. Here at last was certifiable evidence that something was rotten in the state of international cricket.
Malik still lives in Lahore but does little more than play golf, go to his club, and brood – with some reason. He is the only one still carrying the can. All the others shamed and fined by Qayyum have come again, and risen to equal heights of eminence as coaches and commentators, without a single act of contrition.
India came next, and did the best job so far. Their Central Bureau of Investigation did not, like the ICC's Anti-Corruption and Security Unit, simply wash and wring their hands. The CBI used 'robust' interrogation techniques, firstly to make the Indian bank clerk-turned-bookmaker MK Gupta sing, which he did, like a lark, telling them all about his fixes.
The CBI then grilled the Indian cricketers named by Gupta. Of course, one or two were too famous to be brought down. But at least the Indian captain, Mohammad Azharuddin, and the one-day vice-captain Ajay Jadeja, were banned, and a few more besides. Not that anyone pleaded guilty, as in Pakistan: it would be more than your life was worth to confess.
Unfortunately the CBI could not grill any of the non-Indian players that Gupta had spoken of dealing with. Most Test-playing countries had at least one international player who had dealt with him, and their boards all did an excellent job in blocking like nightwatchmen, until the media went away.
Only the mafia did not go away. The period around 2000 and 2001 when India and Pakistan held inquiries, and when the late Hansie Cronje confessed in South Africa, was the window: the moment when the sport's governing bodies, fired by the indignation of cricket followers, might just have broken the links between the south Asian mafia and the dressing-room. But there were too many skeletons in too many cupboards, the moment passed, and match-fixing became much more discreet, if no less systemic.
The King Inquiry in South Africa was a classic. The terms of reference were so limited that the lid could only be opened a little – and as soon as Cronje made a confession it was closed, so no more damage could be done to the national image. A partial confession too, some would say, as he got no further than exposing a couple of his non-white players, Herschelle Gibbs and Henry Williams.
Since then, until Tuesday, virtually nothing. In the last decade the ICC has pinned Kenya's captain, Maurice Odumbe, and banned him for five years, but that was for 'associating with a known bookmaker'. The only other player who has been banned (for two years), Marlon Samuels of the West Indies, was guilty of nothing more than naivety in talking to a punter.
The ICC have now equipped themselves to fire shots, but they needed the News of the World to supply the bullets, when their own ACSU should have done so.
William Hill withdraws from Probability talks
Shares in mobile gambling specialist Probability plc have slumped 16 per cent in London this morning after UK bookmaker William Hill confirmed that it does not intend to make an offer for the company.
William Hill was originally required to make an offer for Probability by no later than 5pm on October 17th, or to announce that it does not intend to make an offer.
Last month Probability said that following a joint submission with William Hill, the two companies had been granted an extension until November 14th to reach an agreement, pursuant to Rule 2.6(c) of the City Code on Takeovers and Mergers.
This morning however, William Hill said in a statement to the London Stock Exchange that it does not intend to make an offer for Probability.
Under Rule 2.8 of the Takeover Code, William Hill reserves the right to announce an offer, or participate in an offer, for Probability within the next six months so long as various conditions are met.
These include an agreement or recommendation from the board of Probability, an announcement by or on behalf of a third party of a firm intention to make an offer for Probability or if Probability announces that it has received an approach in relation to a possible offer from a third party.
Finally, William Hill can also act in the event that Probability announces a "whitewash" proposal or a reverse takeover or if there is a material change of circumstances.
William Hill was originally required to make an offer for Probability by no later than 5pm on October 17th, or to announce that it does not intend to make an offer.
Last month Probability said that following a joint submission with William Hill, the two companies had been granted an extension until November 14th to reach an agreement, pursuant to Rule 2.6(c) of the City Code on Takeovers and Mergers.
This morning however, William Hill said in a statement to the London Stock Exchange that it does not intend to make an offer for Probability.
Under Rule 2.8 of the Takeover Code, William Hill reserves the right to announce an offer, or participate in an offer, for Probability within the next six months so long as various conditions are met.
These include an agreement or recommendation from the board of Probability, an announcement by or on behalf of a third party of a firm intention to make an offer for Probability or if Probability announces that it has received an approach in relation to a possible offer from a third party.
Finally, William Hill can also act in the event that Probability announces a "whitewash" proposal or a reverse takeover or if there is a material change of circumstances.
October 26, 2011
Will Hill says staff dispute resolved, managers dismissed
William Hill plc says its has ended the disruption at its William Hill Online (WHO) operations centres in Israel, Bulgaria and the Philippines with seven senior WHO managers losing their jobs as a result of the walkouts last week.
The walkouts are believed to have been sparked by concerns that the British bookmaker planned to relocate support functions to its operational base in Gibraltar, a move which William Hill has denied. In response to the walkouts which negatively impacted the company’s share price, William Hill said that senior managers at its Tel Aviv support centre would face disciplinary action.
In a stock market announcement Tuesday, William Hill said that all seven managers have now left the business, with normal business activity resuming at all three locations. The company added that “William Hill Online remains committed to its operation in Tel Aviv”.
William Hill’s joint venture partner in WHO, Playtech, which was also involved in the discussions, said the resolution paves the way for WHO to continue to go from strength to strength.
The company’s chief executive, Mor Weizer, said: “Having been asked by William Hill's Chief Executive, Ralph Topping, to assist, I am very pleased that this issue is now behind William Hill Online. It is very positive for both shareholders that the business can now continue to move forward.”
The successful resolution of the disruption comes just in time for William Hill, which reports its third quarter results tomorrow.
The walkouts are believed to have been sparked by concerns that the British bookmaker planned to relocate support functions to its operational base in Gibraltar, a move which William Hill has denied. In response to the walkouts which negatively impacted the company’s share price, William Hill said that senior managers at its Tel Aviv support centre would face disciplinary action.
In a stock market announcement Tuesday, William Hill said that all seven managers have now left the business, with normal business activity resuming at all three locations. The company added that “William Hill Online remains committed to its operation in Tel Aviv”.
William Hill’s joint venture partner in WHO, Playtech, which was also involved in the discussions, said the resolution paves the way for WHO to continue to go from strength to strength.
The company’s chief executive, Mor Weizer, said: “Having been asked by William Hill's Chief Executive, Ralph Topping, to assist, I am very pleased that this issue is now behind William Hill Online. It is very positive for both shareholders that the business can now continue to move forward.”
The successful resolution of the disruption comes just in time for William Hill, which reports its third quarter results tomorrow.
October 21, 2011
Donald Trump: US should legalize Internet betting
Donald Trump sees money — lots of it — flowing away from him. That, he said, needs to change.
The real estate mogul and founder of an Atlantic City casino company says the United States should legalize Internet gambling. The company that bears his name, Trump Entertainment Resorts, is moving forward with plans to establish an online betting venture as soon as it's legal.
The company says it wants to get in on the ground floor of the Internet gambling business, and is close to selecting a joint venture partner to run an online gambling operation. The idea is to be well-placed and ready to go as soon as such activity is legalized in the United States.
"It should be approved here," Trump told The Associated Press on Thursday. "An awful lot of money is leaving the U.S. that should and could stay in this country."
Trump Entertainment, which includes Donald Trump and daughter, Ivanka, and the Avenue Capital hedge fund, would own 10 percent of the new venture.
Donald Trump said the key to success in the online gambling market is having the best brand.
"We think we have the hottest brand there is, the Trump brand, my personal brand," he said. "We think it's going to do phenomenally well."
In a filing with the Securities and Exchange Commission, Trump Entertainment said it has "determined that such a joint venture represents the most advantageous way for the company to participate in opportunities in online gaming at minimal cost to the company."
No cost estimates were given, and Robert Griffin, the company's CEO, declined to comment Thursday. But in March, after Gov. Chris Christie vetoed a bill passed by New Jersey lawmakers that would have allowed Internet betting solely within New Jersey's borders, Griffin said the money lost to offshore operators should benefit New Jersey.
The law would have made New Jersey the first state in the nation to allow Internet betting.
"Currently, millions of Americans engage in online gaming with illegal offshore operators, and do so with no oversight, no regulation or no consumer protections," Griffin said at the time. "It makes sense for the state of New Jersey to regulate this activity, enforce strict standards to ensure games are fair and safe, and in turn be able to collect tax revenue instead of having those dollars and the jobs they support leaving New Jersey and going illegally overseas."
Christie said he vetoed the law fearing it was unconstitutional and could lead to an explosion of betting parlors throughout the state. By law, gambling in New Jersey is restricted to Atlantic City.
But a New Jersey lawmaker is asserting that individual states have the legal right to offer in-state Internet gambling within their own borders.
State Sen. Raymond Lesniak, D-Union, wrote in July to U.S. Attorney General Eric Holder asserting that New Jersey and all other states can legally offer online betting within their borders.
Lesniak said he will introduce legislation in November to address the main concerns expressed by Christie.
The filing said the company, Donald and Ivanka Trump, and Avenue Capital have signed an agreement authorizing the joint venture once it becomes legal, and that prohibits any of them from seeking other online gambling ventures through May 2012.
Atlantic City is in the midst of a nearly five-year revenue slump brought on by increasing competition from casinos in neighboring states, and worsened by the continuing unsteady economy.
The real estate mogul and founder of an Atlantic City casino company says the United States should legalize Internet gambling. The company that bears his name, Trump Entertainment Resorts, is moving forward with plans to establish an online betting venture as soon as it's legal.
The company says it wants to get in on the ground floor of the Internet gambling business, and is close to selecting a joint venture partner to run an online gambling operation. The idea is to be well-placed and ready to go as soon as such activity is legalized in the United States.
"It should be approved here," Trump told The Associated Press on Thursday. "An awful lot of money is leaving the U.S. that should and could stay in this country."
Trump Entertainment, which includes Donald Trump and daughter, Ivanka, and the Avenue Capital hedge fund, would own 10 percent of the new venture.
Donald Trump said the key to success in the online gambling market is having the best brand.
"We think we have the hottest brand there is, the Trump brand, my personal brand," he said. "We think it's going to do phenomenally well."
In a filing with the Securities and Exchange Commission, Trump Entertainment said it has "determined that such a joint venture represents the most advantageous way for the company to participate in opportunities in online gaming at minimal cost to the company."
No cost estimates were given, and Robert Griffin, the company's CEO, declined to comment Thursday. But in March, after Gov. Chris Christie vetoed a bill passed by New Jersey lawmakers that would have allowed Internet betting solely within New Jersey's borders, Griffin said the money lost to offshore operators should benefit New Jersey.
The law would have made New Jersey the first state in the nation to allow Internet betting.
"Currently, millions of Americans engage in online gaming with illegal offshore operators, and do so with no oversight, no regulation or no consumer protections," Griffin said at the time. "It makes sense for the state of New Jersey to regulate this activity, enforce strict standards to ensure games are fair and safe, and in turn be able to collect tax revenue instead of having those dollars and the jobs they support leaving New Jersey and going illegally overseas."
Christie said he vetoed the law fearing it was unconstitutional and could lead to an explosion of betting parlors throughout the state. By law, gambling in New Jersey is restricted to Atlantic City.
But a New Jersey lawmaker is asserting that individual states have the legal right to offer in-state Internet gambling within their own borders.
State Sen. Raymond Lesniak, D-Union, wrote in July to U.S. Attorney General Eric Holder asserting that New Jersey and all other states can legally offer online betting within their borders.
Lesniak said he will introduce legislation in November to address the main concerns expressed by Christie.
The filing said the company, Donald and Ivanka Trump, and Avenue Capital have signed an agreement authorizing the joint venture once it becomes legal, and that prohibits any of them from seeking other online gambling ventures through May 2012.
Atlantic City is in the midst of a nearly five-year revenue slump brought on by increasing competition from casinos in neighboring states, and worsened by the continuing unsteady economy.
October 18, 2011
Tel Aviv walkout prompts Will Hill disciplinary action
UK bookmaker William Hill said Tuesday that several senior managers at its online support centre in Tel Aviv, Israel, are to face disciplinary action following a mass walkout earlier this week by staff. The walkout was prompted by rumours that the company plans to relocate support operations to the UK or Gibraltar.
In a statement to the London Stock Exchange this afternoon, William Hill confirmed that its chief marketing officer Eyal Sanoff had resigned from his role at the end of last month, while other senior managers are facing disciplinary action in relation to the disruption this week within the marketing business in Tel Aviv, as well as in the customer service and back office operations in Manila and Bulgaria.
According to media reports, nearly 200 staff at the company’s online support centre in Tel Aviv left their desks earlier this week, amidst concerns that William Hill was contemplating moving all of its operations to its base in the UK or Gibraltar.
William Hill Online said that senior management, thought to include COO Jim Mullen, were currently on the ground in Tel Aviv working through these issues and confirmed that the office in Tel Aviv would be closed from tomorrow through to early next week, as normal, through the Jewish holiday period.
“The vast majority of employees of the marketing team in Tel Aviv have good working relationships with the business and with colleagues across William Hill Online,” the company said in a statement. “William Hill Online is committed to its sales and marketing operation in Tel Aviv and contrary to media reports has no intention of relocating this operation.
“William Hill Online can confirm that this situation is not directly affecting the availability of any consumer facing websites at present within the Group. There will be a further update as necessary.”
In a statement to the London Stock Exchange this afternoon, William Hill confirmed that its chief marketing officer Eyal Sanoff had resigned from his role at the end of last month, while other senior managers are facing disciplinary action in relation to the disruption this week within the marketing business in Tel Aviv, as well as in the customer service and back office operations in Manila and Bulgaria.
According to media reports, nearly 200 staff at the company’s online support centre in Tel Aviv left their desks earlier this week, amidst concerns that William Hill was contemplating moving all of its operations to its base in the UK or Gibraltar.
William Hill Online said that senior management, thought to include COO Jim Mullen, were currently on the ground in Tel Aviv working through these issues and confirmed that the office in Tel Aviv would be closed from tomorrow through to early next week, as normal, through the Jewish holiday period.
“The vast majority of employees of the marketing team in Tel Aviv have good working relationships with the business and with colleagues across William Hill Online,” the company said in a statement. “William Hill Online is committed to its sales and marketing operation in Tel Aviv and contrary to media reports has no intention of relocating this operation.
“William Hill Online can confirm that this situation is not directly affecting the availability of any consumer facing websites at present within the Group. There will be a further update as necessary.”
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