Archive for May, 2009

MGM Mirage Appears to Re-Enter New York Casino Competition

The gaming promoter has once again set its wandering intuition on promising new projects, involving the development of what would be New York City’s only casino,that will manage the following betting systems of betting blackjack,betting poker and betting roulette.

After outliving weeks teetering on the edge of bankruptcy for either itself or its gigantic City Center project, MGM Mirage has succeeded to move a couple steps from the steep cliff, and is feeling its oats.

MGM Mirage dropped out of a bidding procedure to run a casino to be placed at Aqueduct Racetrack two years ago, when suspensions stalled the process and MGM Mirage’s liquidness bad dream was just beginning. However, the slow advance on the project finds bidding still ongoing, and a real estate developer says MGM is part of his company’s bid.

Political fights have held up the Aqueduct gambling complex from moving forward since its approval by the state almost a decade ago. Now, six confidential bids to build and operate the gaming facility have been received by Governor David Paterson, who says at least one is “a persuasive bid.”

R. Donahue Peebles said he, MGM, and Harbinger Capital Partners had merged to place a bid. Peebles said if his offer is received, the casino would be called the MGM Grand at Aqueduct.

Online Casino Regulation in Antigua to Get Tuffer

In an attempt to recover lost credibility, the Antiguan Directorate of Offshore Gaming stated it will increase watching and inspecting of online Betting System and Offshore Betting casino for complaisance.
 The honor Antigua and Barbuda took in getting the gambling White Listing by the UK Gaming Commission was shaken after the disclosure of the regulatory misfortunes that occurred as part of the Allen Stanford banking disaster.
 In an attempt to recover lost trustworthiness, the Antiguan Directorate of Offshore Gaming announced it will boost observation and inspecting of online asino for compliance.
The Directorate is a branch of the Financial Service Regulatory Commission, which controls the island’s banking commerce. The efficiency of the commission has been called into effect by the Stanford situation, in which Allen Stanford was arrested and his international banking empire shut down by US agents.
Standford International Bank is based on Antigua. Leroy King, CEO of the commission, has been given two month’s go away while the events are investigated.
For the time being, online gambling industry promoters can expect a trickle-down of the harm to result in stricter atmosphere for them. The Director of Gaming, Kaye McDonald, said, They (Internet casino owners) identify that a strong regulatory system defends their players and increases the credibility of the industry in general, which is in everyone’s joint interest.”

McDonald confirmed there will be firmer watching for money laundering prevention, proper transparency, and liability of all licensed online casinos. Antigua also intensifies that its licensees maintain programs to help and facilitate victims of problem gambling, and follow responsible gaming habits.

Online Gambling Adversaries Continue War of Distrusts

 As Barney Frank’s bill to permit online gambling sites that include betting roulette,betting blackjack and betting poker was advertised this week, the enemies of Internet gaming began another verbal attack against the move toward individual freedom. As usual, online casino adversaries offered up statements that perverted and twisted facts to prove their anti-gambling points., the website for the conservative Christian group Concentrates on the Family, noted that Frank originated two bills, one to license Internet gambling and the other to delay compliance with the UIGEA. Interpreting the UIGEA, the site says, “UIGEA requires financial institutions to block payments to off-shore Internet gambling operations that are not licensed to operate within the U.S.”
“Frank is pushing hazardous, international gambling policy down the throats of U.S. citizens and families who do not want this predacious industry imploring and abusing them or their children,” says Focus analyst Chad Hills. Using the statement that the UIGEA only affects foreign operators, Hills now belittles Frank’s move as un-American, says Bradley.Hills does not propose evidence to back up his claim that the gambling amendment is not wished for by US citizens.

A recent USA Today poll found over ninety percent of responders thought online gambling should be legitimate.Hills also equated the Internet to a public library, saying residents wouldn’t want casinos in libraries. Bradley replies, “Hills notes one of the unlimited uses of the Internet, and claims that should make his point. But he overlooks the tremendous commercial and retail use of the Internet, because it causes his point to crash.”
Focus ally and US Representative Spencer Bachus says that permitting online gambling is like putting casinos in children’s bedrooms. Bachus is the same man who claimed last year both that teenage online gaming is an outbreak, and that one in three teenagers who gambled online tried suicide.
Both claims were refuted, and many observed that the two statements were mutually exclusive, unless millions of suicide attempts were going unreported.
But Bradley says it’s all about the repetition with the religious right. “They are not troubled with accuracy. The tactic is to emotionally appeal to panicky responses, because reason defeats their purpose

Gambling Double Standard by Christian Leader

Christian  Leader Identifies Existence of Gambling Double Standard, But Patrick Paul, president of the Bahamian Christian Council, confesses laws permitting bingo and raffles while banning betting roulette, betting blackjack and betting poker set up a double standard.
 Christian officials frequently denounce the evils of gaming while asking parishioners to be involved in church bingo. But Patrick Paul, president of the Bahamian Christian Council, acknowledges laws permitting bingo and raffles while outlawing casino gambling set up a double standard.
Paul told an journalist on Bahamian radio that it’s unjust that churches set up games of chance while citizens are prohibited to play at the country’s casinos.
“I think to some degree that should be thought over,” said Reverend Paul, when asked if gambling should be legalized and regulated. “I do believe that there has to be some degree of regulation.”
Paul warned that gambling can become a slippery slope, but he accepted the freedom of religious groups to organize bingo games and raffles needs control,  while casinos may deserve looser law.
While Gaming Reform Chairman Sidney Strachan says there is a need to “end the discrimination that bans Bahamians” from gambling in their own country while allowing tourists to play, others are asking the issue be placed on a vote.

Swiss to Legalize and Regulate Online Casinos

Switzerland is worried with unregulated online casinos which are increasing in popularity, but pay no taxes and represent probable risks to customers.
 The Swiss government revealed it is considering permitting Internet gambling sites. Like many countries, Switzerland is worried with unregulated online casinos which are betting roulette, betting blackjack, betting poker and which are increasing in popularity, but pay no taxes and represent possible risks to customers.
The Swiss reply, evidently, will be to license an as-yet-undetermined number of online gaming locations, while cracking down on the black market promoters that carry on in doing business with Swiss residents. The Swiss Ministry of Justice says it will craft a proposition licensing legal online gambling sites.
Economists foresee correct rule of Internet gambling could bring in as much as $22 million annually for the country.
Swiss lowmakers say they want to carry on keeping  gambling using telephones or interactive television illegal. Online lotteries and Internet sports betting are already legal in Switzerland.
OCA gaming analyst Sherman Bradley says,”It makes sense for Switzerland to control its growing rapidly online gaming industry with licensing and regulation. The Swiss are too logical a people to follow the banning mistakes that have failed in other countries.”

Finland Facing Internet Online Gambling Argument

Aland, the Swedish-speaking region of Finland that includes thousands of isles in the Baltic Sea, hosts the country’s only licensed online gambling provider , whose being is endangered by new proposed law.

A step to correct gambling regulations in Finland may explode in political disagreement between territories inside the Nordic country.

Aland is a semi-autonomous territory of Finland, and allows PAF to run a monopolistic Internet gambling operation. Online gambling is unlawful in mainland Finland, but the bulk of PAF customers come from the mainland, leading to several jurisdictional disagreements over the last few years.

Now, alterations in the Finnish Lotteries Act may stop residents from visiting online casinos run by PAF.And stop them from betting blackjack, betting roulette and betting poker. Rather than just close down its gambling industry, Aland has opposed by floating the concept that the territory established itself as a licensing area for Internet casino operators.

The plan would appeal to EU officials, which desire an open market for services in Finland for other Union member countries. But it would also result in political disruption between Aland and Finland.

The latest government ruling in Finland gave Aland involvement into all matters implicating the EU Parliament. The decision states its “primary aim is to arrange a settlement satisfactory to both mainland Finland and the Aland Islands in order that Finland would be able to present only one stand on all matters in the European Union.”

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