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J.P. MORGAN PESSIMISTIC ON WHAT'S LEFT OF 2008 IN LAND BASED GAMBLING

J.P. MORGAN PESSIMISTIC ON WHAT'S LEFT OF 2008 Wall Street analyst expects second half 2008 to be tough Las Vegas land casino operators were keeping a careful eye on share prices as the week closed following depressing predictions on Las Vegas land gambling by the respected business analyst group J.P. Morgan. The company expects the second half of 2008 to be one of the most difficult periods for Las Vegas Strip casino operators since the terrorist attacks of 2001, Associated Press reports. Las Vegas ... Read more
 

ANTI-UIGEA REGULATIONS BILL DEFEATED

ANTI-UIGEA REGULATIONS BILL DEFEATED  A close-run vote, but emotional anti-gambling arguments and political divisions prevail The defeat of Barney Frank's attempt to halt the implementation of the UIGEA regulations dominated Thursday's mainstream press headlines around the world. The House Financial Services Committee attempt to require federal regulators to write a uniform definition of which types of gambling should and should not be allowed on the Internet, ended in a tied vote and, consequently, defeat under committee rules. Wednesday's delayed vote on HR5767, ... Read more
 

SPORTSBETTING ACCUSED SENTENCED

SPORTSBETTING ACCUSED SENTENCED  New Jersey man faces 3 to 4 years in jail Vincent "Big Vince" Filipelli (53) the Philadelphia man convicted in a federal court of promoting Internet sportsbetting and possession of prohibited weapons earlier this year (see previous InfoPowa report) has been sentenced to 3-4 years in state prison after completing a 5-year federal prison sentence for threatening an undercover detective. Filipelli admitted he ran an internet-based gambling operation, and that he had been in possession of two billy clubs and ... Read more
 

WAGERWORKS DA VINCI DIAMONDS LAUNCHED

WAGERWORKS DA VINCI DIAMONDS LAUNCHED New slot game has been eagerly anticipated Virgin Casino.com is among the first Wagerworks-powered online casinos to launch the company's latest 5 reel, 20 pay-line slot Da Vinci Diamonds, which offers opportunities to win cash prizes of up to GBP 125 000 with a 100-credit maximum bet. The Da Vinci Diamonds theme "explores the wonders of the Renaissance" as players use the Tumbling Reels, feature, enabling them to win repeatedly on a single play. With a re-triggering ‘Free ... Read more
 

ONLINE GAMBLING FOE ACCUSED OF MISINFORMATION

ONLINE GAMBLING FOE ACCUSED OF MISINFORMATION Has the UIGEA resulted in a decline in online gambling? The American Banker published an op-ed article by Republican Congressman Spencer Bachus this week which contained misinformation regarding the Unlawful Internet Gambling Enforcement Act, according to the Safe and Secure Internet Gambling Initiative (SSIGI) Bachus was pre-emptively arguing against HR5767, the proposed Payments System Protection Act introduced for markup in the House Financial Services Committee Tuesday by Representatives Barney Frank and Rob Paul. The proposal seeks to ... Read more
 

INAUGURAL BINGO AWARDS GO TO PARLAY

INAUGURAL BINGO AWARDS GO TO PARLAY Best and most innovative bingo software recognised Canada's bingo software developer Parlay Entertainment Inc. received two awards at the inaugural Online Bingo Awards presented last week at the Bingo Summit in London.   The company's Parlay 4 product was named Best Online Bingo Software 2008, while its patent-pending side game BingoBets was recognised as Best Online Bingo Innovation 2008.  Parlay’s licensee Paddy Power also won the award for Best Newcomer 2008.   The nominees were selected by a ... Read more
 

CRYPTOLOGIC COMMENTS ON SPORTECH-888 DEAL

CRYPTOLOGIC COMMENTS ON SPORTECH-888 DEAL (Update) Loss of revenues amounts to only 4 percent - with new business aplenty in the pipeline Cryptologic was quick to address the news this week that it was to lose the Sportech poker and casino software account as a result of the online betting company's new deal with 888.com (see previous InfoPowa report).  In a press release, Cryptologic CEO Brian Hadfield referred to Sportech as a "relatively small licensee" and said that the lost business would be ... Read more
 

U.S. SUPREME COURT RULES ON MONEY LAUNDERING

U.S. SUPREME COURT RULES ON MONEY LAUNDERING Jurists clarify the difference between laundering and moving money The Supreme Court of the United States blog includes an interesting entry regarding a finding on money laundering which was handed down in the cases of Cuellar v. United States and United States v. Santos on June 2 this year. Essentially, the finding is that merely smuggling concealed money in bulk does not constitute "money laundering" (although it may contravene some other law). To secure a conviction ... Read more
 

HUGE ONLINE MARKETING DEAL TEAMS SPORTECH AND 888.COM

HUGE ONLINE MARKETING DEAL TEAMS SPORTECH AND 888.COM Three major football pool subsidiaries will benefit from agreement UK football pools operator Sportech will gain access to millions of online poker and casino players following an important marketing deal signed this week with the Gibraltar-based online gambling giant 888.com. The agreement comes into effect in September 2008. Describing the agreement as a "milestone" event, a Sportech statement said that its New Football Pools games, comprising the historic Littlewoods, Vernons and Zetters brands, are to be ... Read more
 

ANOTHER ANTIGUA VS. USA DELAY

ANOTHER ANTIGUA VS. USA DELAY WTO negotiations drag on, with new deadline of July 11 now set Antigua and the United States remain locked in negotiations this week as yet another World Trade Organisation deadline (see previous InfoPowa reports) has passed without a positive result. The two parties in the dispute over online gambling informed the World Trade Organisation this week that they had mutually agreed to another deferral of arbitration proceedings and continue to seek an amicable agreement to bring years of ... Read more
 
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