Online Gambling around the World
-- The Export Processing Zone in Belize has chosen to eliminate any annual gaming license requirement. There is now only a one-time "Business Compliance" package fee of $30,000 and no annual fee requirement.
A Tidbit from Oz -- Considering that online gambling has been a topic of controversy in Queensland for the past few months, it comes as no surprise that the state is warming up to the prospect of letting the federal government take some of the responsibility for regulating the industry. The Queensland government stated just that in a report submitted to the Productivity Commission October 22. Regarding the Commission's findings in its September draft report, the state government had this to say:
The (Productivity Commission's) Draft Report suggests that there are major benefits in the states and territories pursuing a national approach to on-line gambling, thus implying that some form of federal involvement would be preferable.
The Queensland Government is open to a cooperative arrangement with the Commonwealth Government in regards to interactive gambling. Previously though, the Commonwealth has not been interested in such an arrangement. Presently, the national model has established a cooperative approach between the various state jurisdictions. However, the Commonwealth, as the Draft Report suggests, could successfully assist in such aspects as extending internet content legislation to capture unregulated gambling sites.
Promotional Stuff -- Poker.com, Inc. announced this week the hiring of Andy Glazer, one of the world's leading authorities on gambling, to write the Poker.com, Inc. newsletter. Glazer, author of "Casino Gambling the Smart Way," also has a very strong presence in book publishing, gambling magazines, daily newspapers, and major gaming websites.
The redundantly redundantly named GIC Global Intertainment Corp. will premier the world's first live Internet broadcasting of the Greyhound Derby Cup from Macau Greyhound Race Track, an associate company of Macau Horse Racing Track, on November 14, 1999. Events hosted at the Macau Greyhound and Horse Racing tracks are viewed and wagered on by race fans throughout Asian regions. The Derby Cup in Macau is an exciting international event that will now reach millions of viewers worldwide using Internet broadcasting technology. Other major greyhound and horse racing events from the Macau Greyhound and Horse Race Tracks are scheduled for December and January and will be announced in the near future.
The world will never have to worry about a shortage of events worthy of sports betting action. The latest wager on the weird--"Which Star-studded NBA millionaire will be the first to fall off his throne and land himself behind prison walls?"--gladly taken at Sportsbook.com. According to bookmaker Peter Childs, the odds on favorite is Isaiah Rider at 3-1. Trailing Rider are Alan Iverson at 5-1, Chris Webber at 4-1, Derrick Coleman at 7-1 and Rasheed Wallace at 8-1.
BingoGold.com Inc. (BNGL) recently introduced Richard Wilk as director and the new CEO. Wilk brings to the company more than 25 years of experience in the computer, Internet, and gaming industries.
New Stuff -- After several weeks of private testing in North America, 649.com Inc. says it's ready to commence beta testing for its browser-based instant lottery software. The site will open for a beta test as soon as the recently arrived server is fully operational in Costa Rica. The public test will activate only the free-play area of the lottery, with the play- for-cash and the $5 million grand prize not being available until the official public launch. The free-play area of the game will offer merchandise prizes during the public beta test as well as after the official launch. Look for Mustang convertibles to be offered in the beta test period and a further announcement on the start date.
Wheelin' & Dealin' -- Boss Media has licensed two new casinos to InterContinental Casinos Ltd. The casinos will be known as InterContinental Casino, a traditional casino-style site, and Bet Vegas Casino, featuring a Las Vegas theme. The agreements are Boss Media's 7th and 8th sales for 1999. That's a total of 13 sold since the company was founded in 1997.
Investors' Corner --As previously announced, on Oct. 19, 1999, Global Entertainment Holdings/Equities Inc. filed its Form 10SB with the Securities and Exchange Commission through the SEC's Electronic Data Gathering Analysis, and Retrieval "EDGAR" system, in appropriate compliance with the amended NASD Eligibility Rule 6530. In accordance with the phase-in schedule of the new eligibility requirements and based on the time requirement of SEC review procedures, on Friday, Nov. 5, 1999, the stock-trading symbol of Global Entertainment Holdings/Equities Inc. (GAMM) was appended with an "E." The new temporary trading symbol is GAMME. Trading symbols appended with an "E" are subject to removal from the OTCBB in
30 calendar days (60 days if denoted with a plus sign "+") if the NASD does not receive information indicating that a company is current in its public reporting obligations pursuant to Rule 6530. Global Entertainment says it's current in its public reporting obligations pursuant to Rule 6530. The company is working closely with advisors to maintain communication with the SEC during this review period. The company anticipates filing for a NASDAQ small-cap listing early in 2000, utilizing its audited financial numbers for the fiscal year ending Dec. 31, 1999. This Form 10-SB filing is a necessary step prior to qualifying for a NASDAQ listing.
Despite the delay in the sale of Starnet's adult entertainment division, CEO Meldon Ellis insists that things are still going smoothly. "Negotiations on the terms of a definitive purchase agreement are moving forward, but have not yet been finalized," Ellis said. "Although these negotiations have exceeded our estimation of the time required to close the transaction, both parties remain fully committed to the letter of intent, and I have full confidence that we will be able to announce signing of a definitive agreement shortly."
Inland Entertainment Corp. reported Tuesday that its revenues for the first quarter ended Sept. 30, 1999 totaled $4,148,049, an increase of 24.6 percent from $3,329,761 in revenues earned during the same period last year. Net income for the quarter was $519,787, or $.11 per share, compared with net income of $89,636, or $.02 per share, last year. Revenues from website development rose from $163,108 to $822,996.
Go Call Inc. announced Tuesday that it has sold its Internet Service Provider division. The move is part of the company's continued plan to divest of its non-Internet entertainment- and e-commerce-related divisions.
Lousy Ad Campaign of the Week -- Unfortunately for those who strive to legitimize the online gambling industry by promoting respectable business practices, those who insist on using knuckle-headed promotional techniques--namely spamming--continue to give the business a bad name. One of the popular methods of late is sending unsolicited advertisements through ICQ. The following ICQ Express Message is a prime example:
You have received an email express message!
New Online Casino! Over 35 games!! 10%BONUS!!!
Play For FREE!!! Plus Sportsbook!
Click Here --> http://www.cyberspaceace.com
If you're looking for someone to blame for the ugliness, the perpetrators of this ad (either Cyber Space Ace or someone out to make Cyber Space Ace look bad) will do. Another day, another disservice to the industry.
What Others Are Saying -- "Liberia's recognized that the house always wins. The least we can do is regulate online gaming on our own shores."
--Inter@ctive Week, in covering the country of Liberia's recent efforts to facilitate Internet gambling, reported.