Online Casino blog

UIGEA Costs Sportingbet $470.9 million

November 30, 2006

UK-based Sportingbet has announced that it registered a quarter loss of $470.9 million as a result of exiting the US market and selling its US business for $1 in October. Despite losing its US customers, the shares of the British bookmaker rose 3.7 percent on Thursday, and the growth was due to the European and Australian operations which are working very well at present. Moreover, the revenue for the period reached $958.8 million, showing that Sportingbet has managed to overcome the difficulties caused by the signing into law of the UIGEA. It seems that many foreign gaming and wagering providers have managed to overcome the damages caused by the UIGEA by focusing on the European and Asian markets.

Tags: uigea, costs, sportingbet, 4709, million

Posted by admin under Casino news | Comments (0)

5.8 Million Internet Gamblers in UK

November 30, 2006

In a recent market research study, Nielsen/Net Ratings showed that around 5.8 million British citizens gambled online every month from April to September. The figures prove that gambling is indeed part of the entertainment industry in UK. As from September 2007, Internet gambling will be fully legal in Britain and gaming operators will have the opportunity to set up their business here. In the meanwhile, the Gambling Commission is trying to regulate online gambling and to take all possible measures in order to protect customers. The Gambling Commission will also be in charge of supervising gambling sites, checking for relations with organized crime and making sure that the gaming operators comply with the existing gambling legislation. By regulating the Internet gambling industry, the UK government makes sure that its citizens play in a secure, fair and crime free gaming environment.

Tags: 58, million, internet, gamblers, in, uk

Posted by admin under Casino news | Comments (0)