A New Direction for Venture Catalyst

21 February 2000
The Kyl bill has pressured online casino operator Venture Catalyst Incorporated to drop out of the Net betting biz.

CEO Don Speer said that the bill, which recently passed the Senate and has been introduced in the House, "could not only make Internet casinos illegal in the U.S., but it could also make it illegal for an American company to operate legally in international markets."

The company's recent decision to shut down its gaming arm, Worldwide Media Holdings, N.V., was easy. WMH hadn't been a big profit maker, and the company wrote off related assets valued at $146,000.

The company's VegasAtHome portal, however, will remain a priority and even undergo some upgrades. After a brief closing for upgrades, the "new" VegasAtHome will feature the exclusive "Casino Builder" which allows users to build their own play for fun mini-casinos. Vegas vacations and other prizes can be redeemed for points accumulated on the site and via interactive gaming applets.