Z4P Float Postponed -- I-gaming software and technology provider Zone 4 Play has postponed plans to raise funds by issuing new shares on the Alternative Investment Market of the London Stock Exchange due to adverse market conditions. The company is investigating the possibility of listing its shares on the AIM without issuing new shares and believes that its business and prospects should not be affected by the postponement of the offering. Zone4Play's CEO Shimon Citron stated, "We believe that the current market price does not properly reflect the opportunities and growth prospects of the company."
Services Directive -- The services directive is expected to appear before an EU Parliamentary committee next week. The law is meant to increase competition across European Member States, but whether or not gambling services will be included is not yet decided. On the one hand, domestic gaming operators want gambling to be treated like most other services under the directive so that they can compete in the European market. Most Member States, however, uphold a regulatory system for gambling that privileges one or two domestic operators as the only companies able to offer gambling to their citizens. These Member States wish to keep gambling out of the services directive so that they can continue to maintain their monopolies. They argue that gambling should be kept out of the directive because gambling is not a normal economic activity, and that it can lead to problems of addiction, crime, fraud and tax evasion.
Betting Exchange Lobby -- Ex-Act, a lobbying group that aims to promote the licensing of Betfair and other betting exchanges in Australia, has launched a website at www.Ex-Act.org and has begun carrying out actions to further its cause. On July 22nd the group wrote a letter to Victorian Racing Minister John Pandazopoulos to ask for his reasons for opposing betting exchanges in Victoria. The Racing Minister's Chief of Staff Ozan Ibrisim has finally responded to the letter, stating that the Victorian Government opposes betting exchanges because "they make substantial profits while contributing nothing to the industry on which their operations are based" and because their activities are "invisible to racing regulators and therefore undermine the integrity of Victorian and Australian racing.
$1 Million Free Roll -- ParadisePoker.com's first million dollar free online poker tournament has ended with Lee Biddulph, a 28-year-old chef from Blackpool, defeating about 3,900 other free-roll competitors to take the $1 million dollar top prize. Biddulph was the only non-American of the nine players who qualified for the final table, which was played out "in a mystery tropical location." All finalists received an all expenses paid weekend to a five star resort in Costa Rica for themselves and a guest, as well as receiving $10,000 just for making the final table.
Making Deals -- The Money Gaming Corporation Ltd has signed a deal with Trinity Mirror to provide its MoneyGaming high-stakes skill gaming network to MGN Digital's 2.7 million unique users. The co-branded site will be available to readers of Trinity Mirror's top online titles, including Mirror.co.uk, Sundaymirror.co.uk, Sundaymail.co.uk, Dailyrecord.co.uk and People.co.uk.
Pulling the Plug -- Australian gaming company Tabcorp has informed close to 30 pubs and clubs in rural NSW that it will withdraw their betting facilities on October 7th because they have failed to obtain more than $2,000 per week in turnover. Tabcorp's general manager of corporate affairs, Bruce Tobin, stated that "The objective is to encourage punters to enjoy the facilities at nearby licensed venues with TAB outlets that offer superior comfort and customer service." Many towns will be left without any TAB access at all.
Quoteworthy -- "At the core of all of this, one needs to ask whether online gaming is an activity from which the greater public ought be saved. Are these really 'sin stocks'? We are aware that the majority of the big industry operators make efforts to ensure play by minors is blocked and that adults have access to problem gambling counseling when needed. The difficulty that jurisdictions such as the US have is that, where domestic gambling is permitted, their views smack of financial rather than moral protectionism."
--excerpt of an article written by London-based gaming lawyer Hillary Stewart-Jones for website TheLawyer.com. The article examines the relationship between American I-gaming legal policies and the success of investments in I-gaming companies on the London Stock Exchange.