I-gaming Billionaires -- Forbes Magazine has released a list of the world's billionaires and "Canadian playboy" Calvin Ayre, owner of online gambling site Bodog.com not only made the list but also graces the cover of the magazine as the subject of a full-length feature article. Ayre's net worth is estimated at about US$1 billion, which ranks him in a multi-way tie with several individuals who round out the list of 793 billionaires. Other representatives of the online gambling industry breaking into the list include PartyGaming co-founders Anurag Dikshit, who ranked 207th with $3.3 billion, and married couple Russ DeLeon and Ruth Parasol who both ranked 428th with $1.8 billion each. Also on the list is Hong Kong gambling mogul Stanley Ho, worth $6.5 million and ranking 84th. Most of Ho's holdings are land-based but he does have an ownership interest in online gambling site DrHo888.com.
UK License Conditions Doc -- The UK Gambling Commission today released its "License Conditions and Codes of Practice" document for the Gambling Act 2005, which focuses on keeping crime out of gambling, ensuring fairness and openness in the industry, and protecting the vulnerable and the young. The new rules apply to online gambling, which for the first time will be brought under the Commission's jurisdiction, as well as bricks-and-mortar gambling. The new document lays out rules pertaining to compulsory licenses, staff training on how to deal with problem gamblers and information about responsible gambling. Operators must also employ measures to combat underage gamblers accessing their sites through random credit card checks, and they are required to display a relevant complaints procedure. "These new rules will enable us to offer consumers and online gambling fans the chance to know what they are getting," said Poppy Turner, spokesperson for the Gambling Commission. "There would be big incentives for online companies to move to the UK as well, as by registering and being accountable, they would be allowed to advertise in the UK. And the Gambling Commission would be able to offer certain guarantees which would attract customers." The Gambling Act goes into full effect in September 2007.
Leaving 888 -- Online casino 888 has announced that non-executive chairman Marie Stevens has resigned from the company, effective immediately. 888's deputy chairman and senior independent non-executive director Richard Kilsby has replaced Stevens.
Leaving FireOne -- Montreal-based payment processing company Optimal Group Inc announced Monday that Mitchell Garber-- who is executive vice-president of Optimal Group, president and CEO of Optimal Payments Inc, and executive chairman of FireOne Group Plc-- has resigned to pursue other opportunities within the Internet gaming sector. Benjamin Dalfen, director and chief operating officer of FireOne has taken Garber's place. There is some speculation that the timing of Garber's departure means he could be eyeing the CEO vacancy at Party Gaming.
Extrabet -- British spread betting firm IG, owner of financial spread betting business IG Index, is reportedly in the advanced stages of launching a fixed-odds betting site called Extrabet, as part of its binarybet product, which offers fast-moving two-way prices on financial markets and sports events. IG's adviser Citigroup noted that IG had already begun posting its binarybet prices on the Betdaq exchange. Richard Taylor, an analyst at Citigroup, said IG is well-positioned for this move, given its trading expertise and technology. IG hopes to launch Extrabet within the next month.