The once legendary e-payment processing company, Neteller, has announced that it is still going ahead with its plans to target alternative markets, despite a dramatic plunge in profits as seen in its third quarterly financial report. The company showed total revenue of $17-million, compared to $67-million at the same time last year. Operating costs caused a loss of an incredible $146-million, it was learned.
The Canadian e-processor company, Optimal Group Inc. has blamed the Unlawful Internet Gambling Enforcement Act for its disappointing third quarterly performance. Optimal reported that the company only managed to bring in half the revenue that it had this time last year, and said that it did not foresee the situation improving in future financial reports.
After being issued with a European warrant of arrest at Amsterdam’s Schipol Airport, the CEO of the Swedish Unibet, Petter Nylander, was brought before a French judge and released on $288,000 bail. Nylander was charged with illegal gambling activities under France’s archaic gambling laws that only allow two state-owned companies to provide wagering services to the entire country.
Following the publication of a very positive third quarter financial report last week, 888.com has recently announced that it will breaking into the sports betting sphere of the gambling industry by signing a deal with the British company, Rank. Under the new contract, Rank will provide 888.com with a sports betting service and, in return, will benefit from the online casino company’s international experience and liquidity.
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The Chief Executive Officer of the influential Remote Gambling Association, Clive Hawkswood, has made an appeal to the English Trade Commissioner to the European Union to apply pressure to the United States to pay up a significant compensation package. The United States has continuously refused to abide by World Trade Organization treaties relating to online gambling and is being faced with claims of up to billions of dollars by several countries around the world.
The United States is due to lose billions of dollars if it continues to ban online casinos and internet gambling, says Alfonse D’Amato, the US Republican who also heads the powerful Poker Player’s Alliance (PPA). In a newspaper interview to the New York Post, D’Amato said that the present compensation claims against the United States over its online gambling monopoly by major players such as the European Commission and Japan, means that the country may soon find itself severely crippled in many industries.
American politician Barney Frank’s Internet Gambling Regulation and Enforcement Act (IGREA) has received support from the 40th member of the House of Representatives to date, Virginia’s Democratic James Moran. While Frank’s camp is pleased with every new congressman that supports the act, what is strange about this backing is that Moran was an ardent supporter of anti-online gambling legislation, including last year’s earth shattering Unlawful Internet Gambling Enforcement Act. Moran is serving his ninth term in office.
The popular online gaming company, Party Gaming, has announced the results of its third quarter financial report and is shown to be extremely satisfied with the overall numbers. Despite a slight drop in poker revenues (down 3% to just under $75-million), Party Gaming was pleased with the performances from its sportsbetting and online gaming operations. Overall, the Gibraltar-based company improved its total revenues by 5% over last year’s revenues in the same quarter.
Once again, the deadline in the highly publicized World Trading Organization case against the US’s unfair online gambling policy has been extended, at the request of all parties. The United States and the many countries that have made compensation claims against the country, have agreed to try and meet a December 14th deadline. If they fail, the WTO has the right to ask an arbitrator to step in and rule on the issue.
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