February 22, 2013 |
Already home to a major gaming industry, Nevada is preparing to take its expertise online after officials rapidly approved a law to become the first state in the nation to authorize what could become one of the most lucrative gambling markets still to be tapped. At the bill signing held in the same Capitol room where lawmakers legalized gambling some 80 years ago, Nevada Gov. Brian Sandoval formally put his signature to the law Thursday. By quickly moving the bill through the Legislature, Nevada gets ahead of rival New Jersey in the race to win the first slot in the online poker business, where billions of dollars are being wagered domestically and tens of billions of dollars are bet from around the world.
September 5, 2012 |
As president of a company that just came out with a game on Facebook called "Sports Casino," Matthew Cullen is surprisingly OK with the prospect that the U.S. is not likely to see legalized online gambling anytime soon. Cullen's company, RocketPlay does, however, has put money on the odds that sports betting will be very popular on Facebook and other social platforms. That's because their game is free to play and involves betting with virtual currency, not the real kind. In many other respects, however, "Sports Casino" resembles many real-money online betting services that operate legally in the United Kingdom, where RocketPlay is based.
August 1, 2012 |
Two online poker websites accused of fraud and money laundering have reached a settlement under which customers will be reimbursed for the money they deposited with the sites. In a complicated deal, PokerStars, based on Britain's Isle of Man, agreed to acquire Full Tilt Poker and pay back Full Tilt Poker's customers. U.S. customers will be reimbursed from a $547-million government pool to be paid by PokerStars, while non-U.S. customers will be paid $184 million directly by PokerStars.
July 31, 2012 |
The world's largest Internet poker company, PokerStars, is settling with the government to the tune of $731 million more than a year after a crackdown on online gambling. And, in possibly the best part of the deal, the company is also buying former competitor Full Tilt Poker and paying back its customers, who were left locked out of their accounts after the site's U.S. operations were shut down last April . In the agreement with the Manhattan branch of the Department of Justice, PokerStars will forfeit $547 million to the government over three years.
June 29, 2012
Re "Holder loses some support," June 28 Regarding the vote to hold Atty. Gen. Eric H. Holder Jr. in contempt of Congress: It's sad to think that a number of Democrats feel the need to kowtow to the National Rifle Assn. The NRA has morphed from an advocacy group for hunters into a radical mouthpiece for its largest benefactors, the gun manufacturers. Since the election of Barack Obama, the NRA has advanced the conspiracy theory that the president is somehow going to take away your guns, which coincidentally boosts gun sales.
June 29, 2012
Re "Regulating online poker," Editorial, June 19 State Sens. Darrell Steinberg (D-Sacramento) and Rod Wright (D-Inglewood) deserve praise for their legislation to address online poker fraud. The 60 tribes and card rooms of the California Online Poker Assn., or COPA, have been working with legislators to authorize safe and secure online poker that generates new state revenue. COPA supports legislation that ensures technology vendors cannot exert financial control over state licensees acting as "false fronts," thereby weakening California's gaming regulations.