iGaming News all over the world 26.04.2010

26.04.2010, The U.K.Attempts to Attract More Online Gambling Operators / US Ambassador Critical of Australia's Online Censorship Plan / Online Betting Giant Unibet Shows Impressive Profits / Marina Bay Sands gets casino licence in Singapoure

The U.K.Attempts to Attract More Online Gambling Operators
The United Kingdom's 2007 liberalisation of it's online gambling laws seems to have been unsuccessful in creating satisfying operating conditions for foreign gambling providers. The Government of the U.K. is in the process of looking for new ways to attract new operators with some critical detractors making some big waves on the political landscape. For nearly three years after becoming law the Act has failed to attract online operators to apply for a gambling licence in the UK On top of that problem the U.K.'s ambitious plans to be an example for the liberalisation of the European online gambling market have not materialized. Instead, much to the dismay of the present government and the Treasury has witnessed a move to more advantageous jurisdictions for online gambling operators. A review has come to a conclusion early this year and Sports Minister Gerry Sutcliffe has revealed proposals for new licence requirements for offshore online gambling operators.

The details are not yet known, but the new licensing regime is expected 'to create a level playing field' for UK gambling operators. Taxes are the main issue but as in other E.U. nations online operators would be required to pay these in different jurisdictions, depending on where the players are located. What will be a decisive factor, however, is which country offers the most cost-effective base for online operators and where labour costs and tax rates are most favourable. Most other industries in the E.U. have witnessed similar migrations in similar scenarios. The online gambling industry is not much different from other industries that outsource for parts in more cost effective environments, exactly what the E.U. is all about.

White-listed jurisdictions will remain the country of destination for online operators. All factors should be considered, in the U.K.'s revamping of their online gambling laws and regulations including tax, the horserace betting levy, the sports bodies' continuous demands, IP rights, European developments, white-listed jurisdictions, appropriate governmental departments and, of course, commercial realities. In the mean time jurisdictions like Alderney, Gibraltar, Malta and others in the Caribbean will attract online operators and develop their economies.

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US Ambassador Critical of Australia's Online Censorship Plan
Australia and America a world away and yet they are embroiled in a bitter argument over the internet censorship issue which includes online gambling sites. The American Ambassador to Australia has made some headlines recently in down under. "The US ambassador is the latest to join the swelling ranks opposing the scheme, which now include Google, Yahoo, Save The Children, Reporters Without Borders, The Greens, Senator Nick Xenophon, and shadow treasurer Joe Hockey," Chief Executive of the online activist group GetUp, Simon Sheikh, said, The censorship attempts, which involve ISPs blocking a suspect blacklist supplied by an Australian government communications agency have raised the ire of the Obama administration.

The Sydney Morning Herald and a few other major newspapers in Australia reported that the US ambassador to Australia, Jeff Bleich criticised the Rudd government's internet filtering proposal, saying the same goals can be achieved without this kind of censorship. Bleich said in an interview with the Australian Broadcasting Corporation, "We have been able to accomplish the goals that Australia has described, and we have other means to combat bad content and we are willing to share our efforts with them ... it's an ongoing conversation."

Bleich continued, "The internet needs to be free. It needs to be free the way we have said the skies have to be free, outer space has to be free, the polar caps have to be free, the oceans have to be free. They're shared resources of all the people of the world." Sheikh, supported Bleich’s comments, calling on Prime Minister Kevin Rudd to "step in and end this farce". Sheikh, added, "Over 120,000 Australians have joined GetUp's campaign against the internet filter, and polls show 86 per cent of Australians are concerned about the government's internet filter plans." Queensland Liberal Senator Sue Boyce has demanded that the government be more forthcoming with the content of its “talks” with the United States on the issue. Communication Minister Stephen Conroy is still very much committed to the proposed filtering plan stating, "This is a modest measure, which reflects long-held community standards about the type of content that is unacceptable in a civilised society,"

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Online Betting Giant Unibet Shows Impressive Profits
Unibet is an internet wagering company that was first established in 1997 obtaining its U.K. licence in 1998 when it established an office in London and commenced trading as a betting operator using telephone lines. An internet web site in Swedish and English was launched in 1999 then Unibet International was granted a license and established an office in Malta.

In 2001 the second version of Unibet’s web site was launched and translated into 12 languages and now has customers in more than 50 countries.2003 saw the updated web site launch with new products including live betting and the online casino products. The company has grown to over 4.1 million worldwide customers in over 150 countries. With constant growth as a staple of the company the giant has had a remarkable year reporting an impressive 67 percent year-on-year increase in profits after tax for 2009. Profit before tax for the fourth quarter of 2009 was 8.7 million, GBP which was up from a loss of 300 000 GBP for the same period in 2008, while its profits before tax for the full- year almost tripled to reach 28.9 million GBP.

Petter Nylander CEO of Unibet was excited by the report and stated, "Another all-time high in active customers and in gross winnings revenues in the sports book together with a high gross winnings margin resulted in a strong fourth quarter for 2009. Another important step for Unibet has been our decision to participate in the global sports book business-to-business market and offer our proprietary sports book and risk management services to external customers. During the fourth quarter, we made an early redemption of the Euro bond and expect to save between four to five million euros in finance costs during the facility’s duration compared to holding the bond to maturity. This saving includes early redemption costs of 1.2 million GBP that have been charged to the consolidated income statement in the fourth quarter of 2009." Nylander added, " During the first six weeks of 2010, we see good growth in the business with live betting as an important driving force."

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Marina Bay Sands gets casino licence in Singapoure

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Singapore).- Marina Bay Sands has received its casino licence just a day before it was due to open phase one of the us$ 5.5 billion project. There had been speculation if the licence will be issued on time for the opening. Its rival, Resorts World Sentosa, secured its casino licence eight days before its casino opening on February 14.

Tuesday’s phase one opening of Marina Bay Casino in Singapore will include the 963 hotel rooms, part of the exhibition and convention centre, some restaurants and bars, retail shops, the events plaza and the casino. In preparation, the integrated resort ran simulation exercises involving 2,000 guests last week to test out its system.

The rest of Marina Bay Sands will open in phases. The Grand Opening will be held in June at the Sands SkyPark above the hotel towers. The theatres, museum and Crystal Pavilions on Marina Bay will open later in the year. Meanwhile, the Sands Expo and Convention Center will be hosting its first event from May 2.

While gaming industry experts say the casino may promptly become the most lucrative in the world, others worry that the us$ 5.7 billion investment to build the casino signals the gambling world has not come to terms with the near-disaster during the recession.

Many gaming insiders are giddy with confidence in the future of Asian gambling. Bill Lerner, a consultant for Union Gaming Group, told the Wall Street Journal that "the Asian market is going to be overpowering and we're just getting started." "Not only are our hopes justified, we think we're liable to exceed our own expectations," added Sheldon Adelson, CEO and majority owner of Las Vegas Sands.

Marina Bay will have to draw high-rollers from nearby countries, as Singapore officials have installed wsignificant charges on locals who gamble, and allow blacklisting not only to self-excluders, but also family members who wish to prevent casino visits by relatives.

While Adelson tells the Journal he thinks there's "an almost inexhaustible supply" of gamblers from Malaysia, Indonesia, Thailand, India, China, Vietnam and Australia, some cautious analysts say gaming operators may be headed down the same path that led to ruin for many during the recession. Massive borrowing to build monstrous resorts at exorbitant prices left casino companies vulnerable when credit markets shut down.

But projections of huge casino revenues in Singapore have everyone singing a happy song right now. Some observers have predicted the Marina Bay, along with Singapore's other legal casino, Resorts World, may gross as much as 40 % what the entire Las Vegas Strip does. Yogonet.com / Yahoo / Online Casino Advisory

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