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EBet Sells Casino to VIP Casino of Antigua21 December 2000AUSTRALIA -- Dec. 21, 2000-- As reported by the Sydney Morning Herald: "The Federal Government's moratorium on interactive gambling, which comes into effect today, continues to adversely affect local players with gaming group eBet selling its online casino to VIP Casino of Antigua. "While eBet's main business is the provision of gaming systems and sports wagering - it runs the NZ TAB Web site - the group was generating some revenue from its online casino...which is based in Antigua but run out of Canada. "..EBet will hand over 100 per cent of the casino to VIP Casino but has an option to buy it all back after May 18, 2001, when the 12-month moratorium ends. "While eBet will not gain any revenue from the casino in the interim, it will receive fees for the use of its trademark. "...EBet also this week sold its cashless gaming system to a Greek casino, Syros. The deal, worth $150,000, is hoped to be the first of many in Greece for eBet with managing director Mr Keith Cullen estimating the market could be worth between $10 million and $15 million..." |