US Democrat Barney Frank is considering a bill to repeal last year’s anti-gambling legislation according to a spokesperson for the congressman, who chairs the House of Representatives Financial Services Committee.
Frank’s office confirmed that he was considering legislation, but added he had not drafted thebill and had no timetable for legislation.
According to the UK’s Financial Times newspaper, Frank called the law the ’stupidest ever passed’ and wrote on his website: “I am working on legislation to cut back on this Internet gambling thing.
“I think it’s preposterous… maybe we can make some money off it,’ he added.
South Africa Lottery Contract On Hold
The South African National Lotteries Board has suspended the award of a seven year contract seven-year exclusive national lottery contract pending a review after it said that winner Gidani and rival bidder Uthingo had not revealed sufficient information about their shareholders at the time of the tender.
The board announced that it would now have to reconsider the process.
Gidani – in which Greek lottery firm Intralot’s South African unit has a stake – was due to begin its operation of lottery activities at the beginning of April and is said to be considering an appeal if necessary.
A Togel Singapore spokesperson for Intralot said that they expected the situation to be resolved quickly to avoid a temporary discontinuation of the national lottery game.
CryptoLogic Temporarily De-Lists Stock Shares
CryptoLogic, a leading e-gaming software developer and supplier catering to the online casino, poker and bingo market, has applied to de-list its shares from the Toronto Stock Exchange, the NASDAQ, and the
Official List of the UK Listing Authority. It will also cancel trading in its shares on the London Stock Exchange’s EEA Regulated Market.
The move follows the company’s decision to relocate its headquarters from Canada to Dublin, Ireland to be nearer to its large European customer base.
A new parent company, CryptoLogic Ltd, is expected to be listed on the TSX, NASDAQ, and UK Official List in June, according to a company release on Hemscott.com.
Hungary Enters Online Casino Market
The CEO of Hungary’s state gambling company, Gábor Székely, has announced a public bid for the acquisition of information technology equipment to enable the expansion of his company’s online gambling services.
The implementation of some of the games will take 18 months, due to lengthy legal procedures, he commented.
Szerencsejáték Zrt is the biggest provider of gambling services in Hungary and has sole rights to supply number draw games, sports bets and prize draw tickets throughout the country and also has interests in four Hungarian casinos.
At the end of last year the European Commission requested that Hungary open up its sportsbetting market to other EU member states in order to fulfil the EU’s key objective of free movement of goods and services.