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The twin islands are worried that if such a bill is implemented, many people would be out of a job and moreover the islands would see their money profits plummet. Initial steps have been taken by the Islands' government to prevent such legislation from being passed. They have already taken on two American Lawyers for the case, said Ronald Sanders, the islands' head finance department envoy. The lawyers' would present their case to the senators, trying to encourage them that Internet gaming would not infringe upon or endanger the U.S's defense security system. Mr. Sanders made reference to The Unlawful Internet Gambling Funding Prohibition Act, which has already been approved by the U.S. House of Representatives, with its intent to stop monetary filtering and terrorist funding. However, the envoy stressed that if such illegal and foul activities occur, the Island would automatically be two steps ahead and aware of the situation. Ron Maginley, the head of offshore gaming, commented on the situation, saying, "It would be a major economic calamity for Antigua if the bill became law." At present the Bill encompasses 1,500 Web sites stemming from a number of offshore spots, including Costa Rica and the Caribbean. Though, U.S. originated gaming functions are left unexposed as they are not targeted by this bill.
The Senate has a full plate on its hands and has other priority agendas to attend to, such as a financial plan and a pending Iraq situation.Sen. John Eisen said," I don't see the bill having a chance this year." The bill is targeted at offshore online gaming domains, under the aegis of service providers, sanctioning authorities to spot and power cut Websites, as well as ruling out credit card practice and cash transfer systems for Internet gaming purposes.Though, the bill does not include Nevadan Casinos, who are allowed to open online casinos depending upon the states regulations and legalization laws.In any case, legislators would have to go through the process again and present its proposal next year, if the bill is not approved by the two offices of Congress.
After a year of keeping a close eye on and following the companies for the passed year to date, they observed that the companies surpassed the FTSE 100 by 57% as well as the Dow by a 48% margin. This week the company's creator, Warwick Bartlett, commented on the finding's, saying, "We are going to write to all the leading financial institutions to see if they would like to set up an investment trust or a unit trust because the performance is pretty impressive." The Las Vegas Slot machine broker, prized above $5 billion, International Game Technology, and MGM Mirage and Harrah's Entertainment, US operators, rated at more than $6 billion, are the three leading modules around. The resort Casino, Boyd Gaming, is ahead at 326% and considered the paramount Executer. In any case, Mr. Bartlett revealed some inside information on what to expect from the new guide, Saying, "The index gives you exposure to the dollar, companies worldwide and cash Investors would like it."
The Mexican government made its decision to curb illegal casino gambling in Mexico. Last Wednesday, Jorge Urdapilleta Nunez, a top official in the ruling national party, Partido Accion Nacional, said the government will close in on illegal casino practices. Mexico and Chicago were trying to get clearance for legal gambling. Mexico and Chicago are in competition with Las Vegas in this arena. Chicago's Mayor, Richard Daley, has been trying to remedy the budget snag confronting his city by eliminating any talk of opposition to legalizing gambling. John Brown, a director at the University of Nevada's Graduate Studies Dept. at the College of Hotel Administration, said," Evidence suggests (gambling visitors) are spending more money at home so they're cutting out trips. As Indian casinos and gaming spread (to major cities such as Chicago), people are cutting down on incremental trips to Las Vegas." According to a market research report, online gaming has kept people home and away from traveling to Vegas. Rob Powers, a spokesperson for the Las Vegas Convention and Visitor Authority, said, "Still, Las Vegas has changed as a destination. We're thrived because we have so much more to offer than just gaming."
The largest web win went to Tony P., who won $l, 594,649.00. In responding to her big win, Michele S. said," My husband and I jumped out of our seats and started to scream like little kids. We plan to buy a home and two cars and help our families." In the past six month's payouts totaling $3, 884, ll2.13 has been passed out to five big time winners. Since the inception of Jackpot Madness in l998, a grand total of $77,028,646.16 has been spread amongst 2,590 thrilled winners. Major Million's constitutes eleven networks incorporating the most up-to-date favorite internet games. The draw of Jackpot Madness is its immediate lump sum payouts to its winners. Other competitors boast big wins but the payout is paid in spurts over a long period of time. Jackpot Madness press agent, Marilyn Glazier put it this way. "In the few short months since the game's launch, Major Millions has already immeasurably changed the scale of online gaming payouts. The slot is available at over 50 Microgaming casinos, and has quickly become the highest paying game in the history of online gaming. Congratulations to Michele and all of our Major Millions winners, and at the rate the slot's popularity is growing, we are looking forward to seeing many more mega winners in the near future."
According to the report, Mr. Lu accumulated huge expenses while at the casino. He paid $198 a bowl for shark fin soup, and $2,000 for Grange Hermitage liquor a bottle. He even bumped former President Clinton out of the top suite, making him settle for the second best room at the Crown Tower Suite. Mr. Lu paid $25,000 a night for the accommodation which included a host of private butlers, gold taps, and a full-floor accommodation. He stayed for nine days, however he has not been seen since. It's been reported that Mr. Lu swears he has no intention of coming back to Melbourne. According to one report, "This guy is a whale, the biggest of the big fish.He's massive; he's their number one player. Mr. Lu is one of about 100 high-stakes gamblers treasured by the world's leading casinos.
However, after much consideration it was decided to put more gaming effort in Pennsylvania, New York, Britain, and other areas. Already $220 million has been spent digging a tunnel to the marina and nine homes were already knocked down for the proposed plan to take off. The $1 billion Borgata project owned by MGM Mirage and Boyd Gaming Co., however, will not be affected. On Wednesday, Terrence Lanni, CEO of MGM Mirage, said that although Atlantic City still remains a hot bed for gambling, other areas need to be pursued due to the competitive nature of the gaming industry. Ed Rendell, the Pennsylvania gubernatorial candidate, promises to develop the gaming industry and to introduce racetrack slots if he wins the election in November. Mayor Lorenzo of Atlantic City said that he doesn't buy MGM Mirage promises. In fact Lanford was not in favor of the tunnel proposed by Steve Wynn, which eventually was built to the tune of $220. Million!
Le Meridian Russell Square Hotel in London, England, will be host to the Interactive Gaming Council. A special invitation has been extended to executives and experts of online gaming companies. The event, planned for November l2th in the evening, will be held a day before the 2002 European Online Gaming conference. Also, members of the IGC are also welcome and anyone interested in becoming a member as well. Executive Director and Chairperson, Rick Smith, will host the event. Smith has worked to link the gaming industry worldwide and has been instrumental in the regulation of online gaming. The featured guest speaker is expected to be the CEO of Action Online, who is also the vice-chair of the event.
For the first time, The European I-Gaming Expo., assembled more than 275 representatives from 22 countries to discuss sprouting Internet gaming matters and wagering. As the US beats around the bush with up in the air regulations on gambling and outright banning Internet gaming, European authorities are power pushing towards a better regulated and superiority guarded Industry as they take it upon themselves to mark its foothold in the region. As it stands now, Europe seems to have come full circle, providing a more positive outlook on the issue of online gaming, thus authorizing leading land-based gaming trademarks in Alderney and The Isle of Man to operate. This positive notion puts Europe a head of the game, presenting the regions gaming Industry with a new arena, looking towards reaching its ultimate potential. Prohibition, Cross border gambling and Pan-European regulations, were among the other main topics brought forth at the meeting. Steve Donoughe, an executive from the Gambling Consultancy, noted that the greatest menace to hit the gaming Industry is the issue of reliable online payment services. Mr. Donoughe also commented on the recent policy changes from Us Banks and credit card companies not accepting transactions made for gaming purposes, which had set out a commotional stir running through the Industry, fearing a disastrous fall to the rightful trade. He summed it up by saying, "We can't rely on the US to sort this out. We need a European solution."
Mexico's casino operation scene, at present, boils down to around 450 to 1,000 underground unlicensed casinos. The new law to be implemented will be supported by an overseeing power, thus forming a National Gaming Commission. The Commission will act as an authoritative power that will oversee the gambling locals that are to be launched. Casino owners to set up shop will be compelled to disclose their financial back up sources. Under the new bill, gaming venues will not be able to run within 200 meters of churches, schools and hospitals, as well as operate gaming cruise ships anchored in the country's ports. The new development of the casino arena to enter Mexico, is intended to boost up Mexico's social and economic growth, creating employment opportunities, as well as hyping up the country's withering Tourism situation, and is also expected to bring in more foreign exchange.
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