Pulling Out -- Neteller announced this morning that it will no longer process online-gambling related transfers in Canada or Turkey. The company said that "the risk to [its] ongoing business" in both countries has increased due to recent "developments." Beginning today, the company will begin its voluntary phased withdrawal from the Turkish market. It said legislation passed Feb. 28, which prohibits unauthorized operators from offering certain I-gaming services, prompted its decision. And effective April 9, 2007, the company will no longer offer its I-gaming payment service to Canadian residents, which is expected to have a "material negative impact" on its full year results. Neteller said it does not expect to make any further reductions in staff, after announcing 250 job-cuts on Feb. 16, and still plans to focus on the Asian and European markets.
Inked -- CrytpoLogic has extended its exclusive licensing agreement with Marvel Entertainment, Inc. for the development of Marvel-branded online casino games through 2010.
Settled -- Interactive Systems Worldwide, Inc. (ISWI) and Progressive Gaming International have settled all claims pertaining to the patent infringement lawsuit filed by in December 2005 regarding Progressive's Rapid Bet Live product. The companies have entered into a licensing agreement, which sees Progressive receive a worldwide, non-exclusive license to practice ISIW's existing sports wagering patent portfolio. ISWI is also to receive an initial license payment, as well as an ongoing royalty based on product placement milestones and revenues generated by Rapid Bet Live and other products. "We are pleased to have reached a settlement with Progressive Gaming," said ISWI CEO Bernard Albanese.
Launched -- The Financial Times reports that Betfair will begin its new marketing pitch, "a different kind of betting company." The company, which wants to "eat into" the market of Ladbrokes, William Hill, Coral and other fixed odds bookmakers, will try "to appeal to new casual punters while still appealing to core punters," the paper quotes Betfair's director of communications, Mark Davies, as saying. The paper also quotes an executive at a leading bookmaker as saying: "The challenge for them is that they are moving into the consumer market it if they are moving into the consumer market it is already quite competitive. It is about getting to acquire the massive marketing spend in order to achieve the recognition the big players have."
Staying Put -- The Guardian reports that tax-sheltered offshore operators are "poised to exploit sweeping deregulation of gambling advertising in Britain" this September and will "snub the government by boycotting its new regulatory licensing regime." Online operators, some of which are London-listed but incorporated in Gibraltar, for example, will not seek a U.K. license due to the "prohibitively high" 15 percent remote gaming duty set last Wednesday, the paper said. Without citing sources, the paper said: "Many say offshore Internet groups will be among the most aggressive advertisers. Ministers and regulators feel powerless to block such groups, which are protected by European freedom to trade rules."