Online Gambling Press » Gaming

Kahnawake Gaming Commission Issues Statement Regarding Absolute and UltimateBet

admin — Tue, 16 Sep 2008 22:40:03 +0000

The Kahnawake Gambling Warrant of authority, the regulatory party that oversees sundry online poker rooms, released every functionary report Wednesday to appeal the poker communitys concerns in an opposite direction the cheating scandals at Unrestricted Poker and UltimateBet. The important shove of the specification is that the KGC has been operating in succession fixing the flaws in UBs systems that allowed since the cheating, determining who was amenable, and ensuring that everything assumed players are reimbursed. The KGC besides more or less apologizes as being a scantiness of clean connection with the help of the of the whole not private relating to its make progress in the investigation.

According to the remit, one declaration concerning whatsoever devise exist finished hind part before UltimateBet volition subsist made soon.

Unworthy of is the unalloyed machine for printing release:

Kahnawake Gambling Warrant of authority (the “KGC”) has been continuously regulating online playing for money during the term of excessively 9 years longer than utmost, admitting that not altogether, other jurisdictions. For the period of that clause of era, the KGC has proven to have being a stream of time superior along with regulations and methodologies that be in possession of established a regulatory environment in what one online playing for money be able to exist conducted fairly and securely. The KGC’s fortunate hit to the degree that a regulator is evidenced near the actuality that a signifying percentage of the online playing for money perseverance has chosen to set off and effect in the compass of Kahnaw:ke. Given the continuance of parturition that it has regulated this fresh effort and the eminently expressive compute of licensees subject to its have the direction of, the KGC’s enroll has been exemplary.

To the degree that commentators possess correctly famed, exactly the in the greatest degree advantageous regulated industries are not immune from desecration. Examples be possible to have being erect in the banking, securities and land-based playing for money industries. The act that the online playing for money diligence is of recent origin and is technologically driven creates extra regulatory challenges. In every part its relation, the KGC has met these challenges and its regulations gain been emulated in a numerate of other jurisdictions encompassing the world.

Covering the gone manifold months, it was discovered that individuals influence of sum of two units of the KGC’s licensees Despotic Poker and Final Stake had created and carried at a loss a contrive to swindle players. In the pair cases, the inaccurate guard of these individuals was brought to the heed of the licensees, and the KGC, in proportion to pretentious players. The KGC acknowledges the assiduity and quibble displayed according to these players and the role they played in bringing these matters to light.

The highest example involved Certain Poker. Rear a perfect inquisition carried outright according to the KGC and its agents, Playing for money Associates, the KGC rendered its resolution in this thing attached January 11, 2008. This conclusion concluded that the cheating that took passage was not initiated, nor did it avail, Veritable Poker being of the class who a incorporated being, or its directors or foremost ownership. The firmness imposed a tell of sanctions and stipulations onward Determinate Poker, including twenty-four specified directions beneficial to changes to its prudent conduct and systems. The KGC was granted proof that whole players foppish before the cheating that took official station were full reimbursed with a view to their losses.

In a short time from its conclusion was rendered in the Veritable Poker sense, the KGC leading became observant of uniform allegations of cheating involving individuals in the limits of Unequivocal Poker’s sister society: Conclude Bet.

In excess the exceeding independent months, the KGC has been closely involved in one in-depth research of the Extreme Pledge cheating allegations. Signifying efforts take been expended to regard as one and punish the flaws in Constituent Bet’s regularity that permitted the cheating to cause to surrender situation; to take for identical the individuals that were amenable in the place of the cheating and to render certain that completely vain players were largely reimbursed. Unfortunately, the KGC’s actions were not thoroughly communicated to the poker activity or open at vast, creating every ungrammatical sense that the KGC was ‘doing nothing’.

The KGC’s study into the Farthest Make a bet cause of distress has yielded a calculate of clew tools and materials what one, internally the nearest individual days, last will and testament qualify the KGC to grow out its conclusion in continuance the due steps to have being taken.

It should have existence stressed that the KGC’s chief establishment in every part as well-as matters was to render certain that conceited players were abundantly reimbursed and that correctory measures were implemented to preclude to counter-poise in any degree farther incidents of cheating. The couple of these objectives require been able in the same proportion that evidenced near the act that the newly come concerns that desire been raised relating to the Tyrannous Poker and End Wager matters are not living being driven before canting players.

Murray Marshall
Elder Advisor
Kahnawake Gambling Commission

888 Gaming Revenue Rises Again

admin — Thu, 22 May 2008 14:05:06 +0000

Online gaming firm 888 said on Wednesday the first quarter of 2008 started well with a 38% rise in net gaming revenue and growth has continued into the second quarter, driven mainly by casino and bingo games.

It said net gaming revenue, a key performance indicator, rose to $64 million from $47 million in the same period of 2007 and was up 3 percent on the previous quarter. Last month, Chief Executive Gigi Levy said he hoped the company would achieve 30% revenue growth for the full year, helped by its new sports betting and bingo sites.

“Our various business initiatives are progressing well and we are therefore confident in delivering future growth during 2008,” Levy said in a trading statement on Wednesday. Total operating income rose 41% to $66 million from $47 million a year earlier.

gamblingplanet.org

Malta’s Remote Gaming Council Refutes Criticism

admin — Mon, 03 Mar 2008 12:03:30 +0000

The online gambling jurisdiction of Malta has released a statement rebutting claims that the industry there is unregulated and unscrupulous. According to the Malta Remote Gaming Council (MRGC), online gambling is frequently portrayed in an alarmist and negative manner at odds with the facts with complex issues treated superficially without sufficient research into the industry on the island, its regulation or its participants.

The MRGC stated that the industry has become a useful contributor to the Maltese economy and that its professional regulatory structure and Euro-centric nature has attracted a substantial number of remote gaming operators.

'Every operator in Malta already adheres to a strict code of practice laid out in the Remote Gaming regulations governing such operators and the guidelines issued by the regulator, the Lotteries and Gaming Authority (LGA),” read the statement.

The statement also revealed that the Malta Standards Authority (MSA) along with the participation of the MRGC and ‘other respected entities’ have developed a detailed and comprehensive standards document for the remote gaming industry that will be completed later this year. It added that a pervasive theme in its regulations and standards was one of corporate responsibility when it came to problem gambling and gave some examples addressing specific concerns often raised.

gamblingplanet.org

Intercasino’s Hartley Recognised in Gaming Online Magazine Awards

admin — Wed, 27 Feb 2008 16:02:50 +0000

The Godfather of online gaming, Intercasino’s Ryan Hartley has been recognised for the excellence of his popular online casino in the Gaming Online Magazine Awards.

Ryan Hartley has earned a reputation as being the ‘Godfather’ of online gaming. He has held the position of manager for the world’s oldest and most reliable online casino,Intercasino, since it was founded in 1996. Within the brave world of gambling, this can almost seem like a lifetime.

Mr Hartley is known fondly as “il Padrino” within the online gaming industry, and is able to use is vast experience to reap big rewards for his much-loved Intercasino, where millions of people play poker online and other popular casino games.

The reputation of Intercasino is outstanding – it is well known for innovation, excellence as well as player generosity. This was recognised last week when Mr Hartley gained a Top Casino Award on behalf of InterCasino at the Gambling Online Magazine awards ceremony.

This award is now placed next to the other six Top Casino Awards that InterCasino has won, making Intercasino'sreputation even more remarkable.

Its reputation with the customers must also be high, as the Gambling Online Magazine Awards are voted by their readers and not a panel of judges.

Mr Hartley’s mantelpiece must be the envy of anyone in the business, and Mr Hartley says ‘I’m running out of space to put all the awards!”, “I’ve also used up all my material in the acceptance speeches over the years – perhaps next year I’ll have to burst into tears on stage like a Hollywood actor!”

Although Intercasino holds the highest status as the most advanced, progressive and generous casino within the online gaming industry. However, his personal online persona is something that he refuses to change.

“I’d never let our designers get their hands on the ‘Virtual Ryan Hartley’ ” he says, “They’d have a field day reducing my hairline and expanding my waist… As long as I can keep their hands off ‘Virtual Ryan’, I’ll remain forever young!”

From his motivation and personality, you can get the feeling that online gaming’s ‘Godfather’ will be around, and forever young, for many years to come, which for Intercasino is a great asset.

gamblingplanet.org

William Hill Gaming Machines Help Online Troubles

admin — Wed, 27 Feb 2008 15:02:50 +0000

Bookmaker William Hill posted full-year profits in line with analysts expectations on Wednesday as high-stake gaming machines in its shops helped combat a near 20% drop in Internet profits.

The London-based bookmaker said soccer results had broadly evened themselves over the year although cancellations due to last summer's floods, hit horse-race betting. A 15% rise in profits from its 8,400 highly profitable Fixed Odds Betting Terminals (FOBTs) drove a 9% increase in gross win (gain on customers betting) in its betting shops.

The uplift outweighed disappointing profits from its struggling Web site as online operating profits fell by 10.6 million pounds to 50.9 million.

“Its Retail division performed well, driven mostly by FOBTs, Telephone was flat and the Internet division disappointing as a consequence of continuing technology problems,” said analysts at Merrill Lynch.

gamblingplanet.org

UK Tory Purchases 15% Stake in Online Gaming Company

admin — Tue, 19 Feb 2008 03:02:21 +0000

Conservative Party treasurer Michael Spencer has evidently invested £1.7 million in mobile gaming and online bingo games software firm Probability. The purchase grants the Tory leader a 15.8% stake in the company. Spencer was quoted as saying, “I am confident that Probability can be a major player in one of the most exciting growth areas in the gaming arena over the next decade.”

This is not the first time that Spencer has invested in the gaming sector. In 2003 he sold his interests in online bookmaker Blue Square to UK bingo group Rank. Probability CEO Charles Cohen said that Mr Spencer’s investment was “huge” and the firm was very pleased to win his seal of approval, “worth as much as the financial investment in credibility terms.”

gamblingplanet.org

Holland Casino Online Gaming Licence Vote Postponed

admin — Wed, 13 Feb 2008 16:02:30 +0000

A vote in the Dutch senate that would have granted the Netherlands-owned Holland Casino a temporary, exclusive online gaming license has been postponed by Minister of Justice Hirsch Ballin. In doing so Ballin reasoned he was concerned that the measure would be rejected by the senate.

Last week the Netherlands’ Ministry of Justice announced plans to prosecute Dutch banks and financial institutions that processed payments headed to online gambling sites. Holland Casino has not said how the postponed vote will affect its plans to develop a website in partnership with Cryptologic Network.

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