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Ban in Australia May Shift Growth11 January 2001AUSTRALIA – Jan. 11, 2001 – As reported by the Las Vegas Review-Journal: "A 12-month moratorium banning new Internet gambling sites from launching in Australia could shift the growth of the industry to Europe and North America, industry observers say. "…`The Australian moratorium has (caused) a high level of uncertainty for a number of businesses that were looking to make Australia their home base,' said Tony Cabot, an Internet gambling lawyer for the law firm Lionel Sawyer & Collins. "As a result, Cabot said Internet businesses have been looking to move to Quebec, New Zealand and Great Britain. "The Kahnawake Mohawk tribe near Montreal established an Internet gambling regulatory system in 1998, making it the only place in Canada where Internet gambling is legal. "…As the industry grows and competition intensifies, many companies are looking to ditch their tax-free havens, like Costa Rica, for regulated jurisdictions, industry observers say. "…Great Britain and New Zealand are two regions that are likely to get Internet gambling transplants if they regulate their local businesses, because these jurisdictions already have mature, highly respected land-based gaming industries, Cabot said. "Australia's Internet gambling industry was shaken in December when the federal government passed a retroactive ban preventing new Internet gambling sites from being launched between May 19, 2000, and this May…" |