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Norwegian legislature pass a UIGEA-like law

Following the recent consultative process in Sweden on the Nyren Report's suggestions on the way forward for gambling in that country another Nordic nation has started a consultative process.
 
This one is more focused and direct - an assault by Norway on Internet gambling which suggests that the Norwegian legislature pass a UIGEA-like law to prohibit financial transactions with Internet gambling organisations.
 
The Norwegian government has opened its proposed law to a consultative process that will run through to July 6, 2009, and has forwarded the draft legislation to the European Commission and European Economic Area regulators as required by regional rules.
 
The initiative has been running for some months, starting last December when the proposed move was approved in principle by the Norwegian Parliament, which authorised the drawing up of the draft legislation to impose the financial ban.  This will require financial institutions to halt payments between Norwegians and gambling sites that are not approved by the government, which operates its own gambling monopoly in Norske Tipping.
 
Last week the Norwegians justified the ban to the EFTA Surveillance Authority, which monitors compliance with free trade principles by countries in the EEA.  The Norwegians claimed that the ban on Internet gambling transactions is essential “to ensure consumer protection” and to “prevent unfortunate social consequences and crime related to gaming.”
 
Transactions valued up to Euro 2 billion annually could be impacted by the law if it comes into force following the consultative period and further Parliamentary activity. Thus far the Norwegian Financial Services Association has yet to make official representations on the government's proposals, which will clearly have enforcement implications for the country's financial services industry.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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