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ASCOT SPORTS CLOSING CONFIRMED
The closure of the Ascot group of online gambling operations owned by Malaysian tycoon Vincent Tan over the weekend (see previous InfoPowa report) is being supervised by the Isle of Man regulating authority, according to a response to an InfoPowa enquiry this morning (Monday)
Garth Kimber, the head of e-gaming in the Isle of Man government Department of Trade and Industry, said:
"It is a commercial business decision by the parent company to stop operating in the On-Line gambling arena.
"The company is having daily dialog with the Isle of Man Gambling Supervision Commission who are ensuring that player funds are being returned to the players as part of an orderly withdrawal from the industry.
"At present there are no major identifiable problems with the process. The Gambling Commission will continue to liaise with the company and monitor the situation."
It has been pointed out to Mr. Kimber that there is a need for the company to communicate timeously with its players on the shutdown.
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Gambling News :
Interwetten 2016 Earnings Results -
Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform
EU Online Gambling Tax Harmoney Dead -
Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.
Jack Lam Facing Big Fines in the Philippines -
It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.
PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
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