Issue N40, 2009
October 21, 2009
Party Gaming Shares Sell Makes Waves in Industry
The news that one of Party Gaming’s founders, Anurag Dikshit has decided to sell a major part of his stake in the company has seen the online gambling industry react wildly, with share prices on the London Stock Exchange falling as much as 16% at one point. The Indian born Dikshit has decided to move away from the company and direct his attentions to his philanthropic attentions in South Asia. The money earned from the sale of his 75 million shares in the company – around two thirds of his stake – will earn Dikshit around £187.5 million. The billionaire said that the money will be directed into his charity foundation.
Anurag Dikshit made headlines last year after reaching a plea bargain with the authorities in the United States who accused him and the other founders of Party Gaming (the husband and wife team Ruth Parasol and Russel deLeo) of activities that contravened US gambling laws prior to the introduction of the Unlawful Internet Gambling Enforcement Act. Party Gaming left the US after the UIGEA became law, but Dikshit agreed to forfeit $300 million in exchange for lifting all liability from over his head.
Australian Territories Bid for Bookies
When Tasmania announced last week that it was doing away with taxes traditionally paid by online gambling operators located in the state, many other Australian territories and those abroad scrambled to see how they could entice their own bookies to stay put. It was agreed, however, that Tasmania’s offer to charge a flat licensing fee of $256,000 instead of annual taxes was extremely tempting.
Northern Territory decided to respond to the first shot of war and the state’s treasurer announced this week that she was introducing legislation that would cap taxation at $250,000, thereby undercutting Tasmania’s tax incentives.
A number of top online gambling operators currently call Northern Territory their base, including International All Sports, Centrebet and Sportingbet.
While the state will lose over $8 million in revenue, the treasurer argued that if this move was not made, all the money would have been lost. “We would have made nothing if we hadn't have moved decisively. Let me be clear about that,” said Delia Lawrie. “We were facing losing the entire industry from the Territory. They would have gone to Tasmania where they had a taxation regime to attract them.”
Vegas Technology Launches Two New Games
Industry leading online software provider, Vegas Technology, has rolled out two new slot games that will definitely put a smile on any casino gaming fan’s face. The games, both five reel, 25 pay line offerings, were released to top Vegas powered sites on the internet, including Golden Casino, Millionaire Casino and VIP Slots Casino.
The first game is Bangkok Nights, with its Thailand-at-night theme and some great bonus features. Five of the Girl symbols in the game will pay out the massive 10,000 coin jackpot that is up for grabs in this game, while other bonus symbols abound to push up that winning potential significantly. Three or more scatters will trigger the 12 free spins with triple payouts, while the girl symbol on reels on 1 and 5 trigger the Pick and Win feature.
The second game, Love Bug was created for all those romantics out there who want to combine every type of love related symbol with supreme slots entertainment. With symbols ranging from rings, perfume, flowers and chocolates and bonus features that include wilds, scatters, free spins and lots more, this game is definitely a winner for all Vegas Technology slot fans.
Responsible Gambling Day Attracts Attention
The online gambling industry recently ran a Responsible Gambling Day in London together with groups such as the Remote Gambling Association and GamCare. As part of the efforts to promote the idea that online operators are doing all they can to protect their customers. RGA released a short video highlighting the technology used to prevent underage gamblers from accessing sites and protecting problem gamblers. “We hope our five minute tutorial will provide (lawmakers) with a quick insight into how operators ensure that for the vast majority, gambling remains a safe and harmless leisure activity,” said Clive Hawkswood, the CEO of the RGA which also donated thousands to an international online help line for problem gamblers.
GamCare announced that the world champion boxer, Chris Eubank would serve as its brand ambassador as part of Responsible Gambling Day and beyond. “I am delighted to add punch to GamCare's excellent work with problem gamblers and their families. I know from my own experience how easy it can be to be sucked into the gambling habit – and also how difficult it is to admit you have a problem and ask for help,” said Eubank.