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I'll admit it. I've been avoiding the obvious. I have been writing about the party on Friday because I didn't want to read the news. I didn't want to know when Bush signed the Safe Port Bill which contained the anti-internet gambling amendment. Today was the first day this week I checked the news and sure enough it was in my first Google alert. What a way to start my day. Now that the bill has been signed Congress and the banks have 270 days to figure out what now. Even though there's a huge gaping hole in the legislation which would allow for third party deposits most of the internet casino, poker room, and sports book operators are banning US players. FirePay is also blocking US residents from depositing into online casinos, poker rooms and sports books. Neteller, on the other hand, is still allowing it while the jury is out on the details regarding third party processors. Not that it's very relevant, since as I previously mentioned, most online gambling establishments are banning US residents. Reuters announced that President George W. Bush signed the bill on the most appropriate day possible, Friday the 13th. I avoided reality for four whole days. Bliss. I still don't understand how the safety of our ports has anything to do with internet gambling. I also don't understand how Congress was allowed to add a completely unrelated amendment to a bill. Even Reuters makes a comment about how the two have nothing in common. "By signing the Safe Accountability For Every Port Act of 2006, Bush set in motion an unrelated ban on Internet gambling, drawing protests from a group representing the gambling industry." Bush ignored the anti-internet gambling amendment completely while commenting on the bill. "With the bill I sign today, we renew a clear commitment: We will work tirelessly to keep our nation safe and our ports open for business," Bush said in a signing ceremony. Michael Bolcerek, president of the Poker Players Alliance, a grassroots advocacy organization, was devastated by the signing of the bill. "Today is a dark day for the great American game of poker," he said. "Twenty-three million Americans who play the game online will effectively be denied the ability to enjoy this popular form of entertainment, even in the privacy of their own homes," Bolcerek added. PartyGaming made a small announcement on their website. "Further to the Group’s announcement on 2 October 2006, following the signing of the Safe Port Act by the US President earlier today, the Group has suspended all real money gaming activities to customers located in the US with immediate effect. The Group’s play for free websites will continue to be available for US customers." It's sad to think of PartyGaming stopping their advertising in the United States. They were famous for advertising their play for fun site everywhere as a way to thumb their nose at the Department of Justice. While their playing for fun free is still legal, since it's not gambling, their will be no more reason for them to advertise as their play for real site isn't accessible to US residents. Sportingbet Plc had an announcement on their homepage. "Sportingbet plc has been advised that it is in the best interests of its stakeholders that its business is compliant with pending legislation in the United States, being the Unlawful Internet Gambling Enforcement Act." "Accordingly, and with effect from 11am BST on Friday 13th October 2006, Sportingbet will no longer accept any new deposits of funds, sports bets or wagers from any US citizen. Sportingbet's US facing websites together with their affiliated URLs and associated companies have been sold and are no longer part of the Sportingbet Group." Who would want to buy their US facing websites if they can't use them to cater to US citizens? Not knowing any of the US facing URL's I can't check to find out. I can't imagine that they would be reputable websites, but that's just a hunch. 888 Holding plc had no announcements regarding the legislation. They did have some Director/PDMR Shareholding announcements yesterday, which means someone is selling their stock. They did have a long announcement on October 2nd regarding the US legislation. In this announcement they meandered around the legislation. The most interesting bit of their announcement was this: "In the light of these considerations the Board has concluded that it is appropriate to suspend participation by US based customers in activities covered by the legislation. The Company will implement this suspension immediately upon the legislation taking effect and the suspension will continue for so long as the legal situation remains the same. The Board will continue to seek clarification of the overall US legal position to determine whether and to what extent if any resumption of participation by US customers is feasible. At present however no assurance can be given that this will be possible. The Company will continue and develop those aspects of its US business which are not affected by relevant legislation." Which part of their US business isn't affected by the relevant legislation? I couldn't figure that out from their statement. Microgaming has no comments in their news section. Cryptologic had no mention of the anti-internet gambling amendment anywhere on their site. Neither does eCogra. Neteller didn't have a comment about Bush signing the bill, but they had an announcement today which is more telling. "The Company announces that Mr. Steve Lawrence resigned as a non-executive director of the Board with effect from Friday 13 October 2006. The Board sincerely thanks Mr. Lawrence for his significant contribution and efforts in founding and helping to build NETELLER into the world’s leading independent online money transfer business, and wishes him well for the future. Mr. Lawrence continues to remain a supportive shareholder of the Company." This is a sign of what is to come. Even the captains will be jumping this ship. Haaretz, an Israeli newspaper, had an article last week about the layoffs in the internet gambling companies located in the country. The telegraph.co.uk announced the first fatality of the anti-internet gambling legislation in the US. "The secured creditors of World Gaming, understood to be Barclays Bank, pulled the plug on World Gaming earlier this morning and called in administrators UHY Hacker Young." "The administrator has issued a statement saying: "The secured creditor has subsequently concluded that it is reasonably likely that administration will achieve a better result for the Company's creditors than would be likely if the Company were to be wound up."" Posted on: October 17, 2006
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