SEARCH NEWS:

 

Sungold Entertainment Releases Horsepower2.0 Virtual Racing System

Horsepower has been designed for the online gaming market, which according to Barnett at Merrill Lynch will grow to be a $177 billion market. Horsepower has features unique to the internet gaming market. Initial advertising space on the premier racetrack fence locations will sell initially for $500,000 USD per month. Recently, Net Value Ltd., a research firm based in Paris reported online gamblers among internet users in Hong Kong increased from 22 percent in October 2000 to 41 percent in December 2000.

According to Lawrence T. Wong, CEO of the ($11 billion annual revenue) Hong Kong Jockey Club ``internet gaming is like the .com phenomenon two years ago, the revenue growth is exponential''. Net Value Ltd. also reported 3 million people a month in Great Britain are visiting internet gambling sites.

Last week the President of the Nevada Resort Association Bill Bible was quoted as saying, ``internet gaming is clearly a legal act. I think it is appropriate that Nevada licensees engage in it''. Evidence of the evolving internet gaming industry came with three significant events announced in the last 2 weeks. The British Chancellor proclaimed the abolishment of Britains tax on online gaming. (Industry experts view this as an attempt to lure more online gaming operators to Britain).

Assemblywoman Merle Berman in Nevada introduced an internet gaming bill to a largely positive state assembly. A major event took place in New Orleans on March 13th when U. S. District Judge Duval dismissed eleven cases regarding credit card debts incurred from internet gaming involving Visa, MasterCard and several banks on the basis the plaintiffs had no grounds for a federal case and that internet casinos do not violate federal law.

The director of litigation for Visa International (a defendant in the case) was quoted in American Banker as saying ``we are not a police organization, we're a payment mechanism''.

< Gaming News