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ISLE OF MAN LICENSES FOR FASTBET AND NYX INTERACTIVE
Negotiations commenced in January this year came to fruition this week when the Isle of Man jurisdiction announced the award of licenses to Swedish games developer NYX Interactive and to the betting exchange Fastbet.
NYX plans to introduce a network gaming hub on the island offering Internet bingo, lottery, casino, poker and sports betting, with all games and financial transactions operated, regulated and controlled in the Isle of Man, which has a robust financial services industry in addition to being an online gambling licensing jurisdiction.
Fastbet’s new licence covers B2B betting exchange activities for white label clients as the company introduces shared hosting and software as a service (SaaS) to the betting exchange world, operating from the island.
Garth Kimber, head of egaming development at the IOM Department of Trade and Industry, said it had taken some time to understand NYX's needs and make the necessary moves to accomodate them, which included bringing the island’s regulatory environment up to date to make it more compatible with egaming-related services, such as payments, software and web design companies.
Kimber said that there were currently seven applications in the Gambling Commission’s pipeline, and that he hoped to be in a position to announce the award of another license before the end of 2008, and regular monthly announcements going forward.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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