Quoteworthy -- "The U.S. has so far opted for compensation to make right what is wrong. I don't think compensation does that job. What we really need is for the legislation to be put right and for foreign operators to stop being excluded and discriminated against in the way the present U.S. legislation does. I will continue to make these arguments on behalf of the European industry."
- Following last week's visit to Washington D.C., EU Trade Commissioner Peter Mandelson told members of the European Parliament today that the United States should open its multibillion-dollar online gaming market to foreign companies into instead of trying to compensate for shutting them out.
Hedging Your Spread -- London-listed spread betting specialist IG Group has agreed to purchase the entire issued share capital of HedgeStreet Inc., a California-based Internet exchange allowing users to speculate on economic events and price movements, for $6 million. "For some time we have been interested in entering the U.S. market, but regulatory constraints limit our ability to offer much of our existing product range," said IG Chief Executive Tim Howkins. Pending satisfaction of certain financial conditions, the acquisition is expected to be completed in 21 days.
Sportswinbet Loses Big on LSE -- Sportswinbet, also listed on the LSE, has said it will not renew its sports betting license with the Alderney Gambling and Control Commission due to the current competitive global licensing market. "As and when an investment opportunity is identified that requires Sportswinbet to have a global sports betting and/or casino license, the relevant application will be made in the appropriate jurisdiction," the company said in a written statement. Shares in Sportswinbet, an investment company with I-gaming interests, fell 16.60p, or 61.48 percent, to 10.40.
Centrebet Goes Mobile -- Centrebet has launched a mobile sports and horse betting service for Australian residents on Mfuse technology. "We foresee a sizeable revenue improvement over time as a result of the product's portability and accessibility, and also as a flow-on from increased acceptance by customers of other java-based mobile products," said Centrebet Chief Executive Con Kafataris. In related news, Australian Daily Herald Sun reports Kafataris told shareholders today that the company was confident it would achieve a net profit of between A$13 million and A$13.6 million during FY 2008.
Newfoundnetwork -- In an effort to consolidate its supplier base, Sportingbet has migrated its Backgammon operations and player pool to the GameAccount Network. "This deal gives our players access to one of the largest Backgammon communities in Europe equipped with the best-value tournaments," said Sportingbet Product Director Paul Roberts.
Double Download -- Online operator Mansion has added two new Playtech-developed games, Bonus Bears and What's Cooking, to its suite of downloadable video slots.
Stock Watch -- On the LSE, Sportingbet was up 2.50p to 51.00, William Hill was down 8p to 494.00 and Ladbrokes was down 15.25p to 315.75.