Another Italian Bust -- Italian police said today that they have broken up an online gambling ring run by bar owners in Rovigo in northeastern Italy. According to police, bars in the area sold prepaid cards to use for illegal gambling with online casinos based in Romania and Sweden. Police have seized 250 computers and thousands of electronic devices that enabled Internet connections in other raids this year. Profits from the sale of the card were split among bar owners, the middle men who rented them the equipment and the casinos.
Cort Proceeding -- Antigua Finance Minister Errol Cort said on Wednesday that Antigua will continue developing its Internet gambling industry despite the U.S. government's attempts to prohibit the practice. He also said that at least 10 new online gambling companies will launch soon, adding to the 14 already licensed on the island. Antigua in 2003 took the matter to the World Trade Organization, which ruled this year that the United States needs to bring its laws into compliance with the organization's generalized agreement on trade and services. Cort said Antigua's government will "tightly regulate Internet gambling to meet the most stringent international practices."
Betfair News -- The Melbourne Herald Sun reports that although ever-present betting exchange Betfair has been given the go-ahead to apply for a Tasmanian license, it is not yet in the clear. Specifically, Racing Victoria CEO Robert Nason had a warning for stakeholders at today's annual general meeting. "In an overall sense, we are headed into turbulent waters as an industry, and we need to be very careful how we steer that path," Nason said. . . . Betfair announced today that it has received the Confederation of British Industries Company of the Year award--presented Nov. 29 at the CBI Growing Business Awards--for the second year in a row.
On the Hunt -- CYOP Systems International Inc., a provider of online gaming software and operator of games portals, released a statement today confirming that it is looking to acquire assets of an online gaming software company. At this time, information regarding the acquisition is only available to the parties involved. . . . Meanwhile, CYOP's Chinese poker site is set to launch, pending final integration from its Chinese partner.
Joining the Party -- Costa Rica-based TeenPattiParty.com began taking bets today, proclaiming itself the first Web site to offer the game Teen Patti to the East Indian market. The site, which has been available in free-play mode for the past five months, also offers Texas Hold'em and casino games. Its transition into a real-money site comes one month after the launch of rival site TeenPatti.com, also based in Costa Rica.