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Gaming News Archives - Page 5553Starnet Gets Its Office Back; Some Casino Interruptions Over Weekend23 August 1999
Starnet Communications, a major provider of online casino software, regained control of its headquarters in Vancouver Sunday night, after scores of investigators for the Royal Canadian Mounted Police and local police completed their search. The police had raided the company Friday morning, looking for evidence of gambling and pornography offenses. Some of Starnet's licensed casinos had intermittent disruptions over the weekend.
Starnet and Softec Head Quarters Searched by Feds21 August 1999
Starnet Communications, including its subsidiary Softec, in Vancouver, Canada was subject to a raid by Canada’s Coordinated Law Enforcement Unit this morning (Friday). The result of an ongoing 18 month investigation caused the public company’s shares to plummet over 69 % but company employees were confident that operations would return to normal once this investigation concludes, expected sometime this weekend.
While Starnet stocks plummet, Vancouver Stock Exchange halts trading in three Internet gaming related companies.21 August 1999
In a related story, Starnet Communications Inc, being investigated for offences including illegal betting and bookmaking, and making agreements for the purchase or sale of betting or gaming privileges" saw its share price plummet to as low as $3 on the day, to close down over $9 or 69% from its open.
Canadian Police Raid Starnet Headquarters, Executives' Homes21 August 1999
Friday's raid prevented Starnet employees from working at their headquarters in Vancouver. Police say they're in the middle of a long investigation into illegal gaming activity and distribution of pornography. Starnet provides software for many online casinos, whose activity may have been disrupted by the police action.
Interactive Gaming & Communications Seeks Damages from Total Entertainment19 August 1999
Interactive Gaming said it obtained an injunction from a Montreal court against Total Entertainment's InterCapital Global Fund, The Online Casino and several individuals to prevent the unauthorized use of Interactive Gaming's "LiveAction Gaming Platform'' source code and corporate documents. Now Interactive Gaming wants damages.
ISW Announces Start of Live Money Trial for Remote PC Wagering in Nevada19 August 1999
International Sports Wagering said it has begun a live money trial of
its SportXction wagering system. This new version will allow players to
make wagers from PC's linked via telephone lines from remote (non-sports
book) locations anywhere throughout the state of Nevada. The system will
accept both traditional pre-game wagers, as well as play-by-play wagers,
made during the course of a sporting event.
Starnet Communications Sues Las Vegas Casino Inc., Claude Levy16 August 1999
Starnet seeks unspecified damages for alleged false and malicious statements that Las Vegas Casino published on the Internet. Starnet used to provide software for the online casino, but terminated the license. Las Vegas Casino trashed Starnet in a press release it published for one day, and then withdrew.
Park Place Sells $300 Million of Notes15 August 1999
Park Place Entertainment Corp. of Las Vegas said it has sold $300 million of 7.95 percent senior notes due August 2003 in a private placement. The company operates Hilton and Grand hotel-casinos and is acquiring Caesars World Inc. for $3 billion.
GTECH Signs New Contract in Morocco13 August 1999
The agreement is the company's first signed contract in Africa. The Rhode Island firm supplies computerized online lottery products and services.
Consumers Spend More on Legal Gaming in U.S., But Rate of Growth Slows13 August 1999
International Gaming and Wagering Business, a trade magazine, reports that U.S. consumers spent $54.3 billion last year in legal gaming, a growth rate of 6.6 percent. By way of contrast, consumer spending on movie tickets, spectator sports, cruise ships, recorded music and theme parks combined was slightly above $40 billion.
Boss Media Secures New Credit Card Processing Firm11 August 1999
Boss Media AB's fully-owned subsidiary, Webdollar, Ltd., has entered into a cooperative agreement with Pure Commerce Pty., Ltd., of Sydney, Australia, concerning credit card processing services.
Casinos to Fight Ruling on Cash Shortages11 August 1999
Like many casino firms, Coast Hotels & Casinos _ a Las Vegas operator that specializes in the "locals'' market _ withholds funds from employee paychecks if they come up short in their cash balances. But in the case of a former cashier for Coast, a judge upheld regulators who said Coast can't do that. The company will appeal.
Vegas Dean Sports Press Release11 August 1999
Vegas Dean Sports (VDS, LLC.) provides the educated sports aficianado with effective and in-depth
handicapping analysis specifically concerning football, baseball, and basketball. Our methods and theories
are time tested and proven - we provide our clients with the competitive advantage necessary to become
successful and profitable sports gamblers.
MGM Grand's Detroit Casino Off to a Hot Start9 August 1999
In its first three days, the casino's gambling revenue totaled nearly $5 million. But the casino also faces a possible fine after two teenagers were caught gambling and drinking. Also, Michigan regulators said the opening of Detroit's other two casinos _ MotorCity and Greektown _ could be delayed as much as two months to permit the completion of background investigations.
Casinos' Roles Debated During Problem Gaming Awareness Week9 August 1999
Nevada gaming-related groups, and others, sponsor activities to educate the public about compulsive gambling problems. But some say the industry should do more, alleging that it profits from addicted gamblers. The industry says it's a problem for the entire community.
Las Vegas Casino Announces Suit, But Doesn't File It6 August 1999
Las Vegas Casino Inc., an online operator, trashed software supplier Starnet Communications International Inc. in a July 27 press release. It said it was suing Starnet for $1 billion, and Starnet's stock price plunged. But the next day, Las Vegas Casino pulled its press release. Starnet said it terminated Las Vegas Casino for failing to pay license fees.
Interactive Gaming Council Responds to New York Court Decision4 August 1999
The Interactive Gaming Council, an international trade orgranization, says the recent ruling by a New York judge in an Internet gaming case "completely ignored recent decisions by the U.S. Supreme Court about gaming advertising and by the U.S. Court of Appeals about where such bets are actually made." The question of jurisdiction can only be resolved by an international regulatory system, the Council says.
Venetian Files Lawsuit, Builder to Retaliate4 August 1999
The Venetian, the newest mega-resort in Las Vegas, stopped negotiating over delays and cost overruns and sued its builder. The builder responded by saying a new 'substantial' lien will be filed against the resort. More than $64 million worth of liens have already been filed by unpaid subcontractors.
Virtual Gaming Enterprises Announces Purchase of Casino Royal Carib4 August 1999
This will be the second online casino for Virtual Gaming, a California company that operates www.classicbet.com. Earlier, the company announced that European Barter Business' U.S. affiliate had acquired 25 percent of Virtual Gaming.
New York Judge Throws the Book at Internet Gambling30 July 1999
A state judge concludes that Internet gambling is subject to state and federal laws. Even though World Interactive Gaming's Golden Chips Casino was licensed by Antigua, the judge rules that entering the bet and transmitting it from New York via the Internet constitutes "gambling activity within the New York state.'' His opinion says, "A computer server cannot be permitted to function as a shield against liability . . .'' |