CASINO FREE PLAY - Gambling

Playtech, a casino software supplier, has signed on to a four-year deal with industry leader Partygaming.com. Partygaming went on a holiday buying spree, and Playtech has been chosen to furnish the software for the new purchases. Playtech’s stock rose 3.7 per cent on the news. Playtech offers online pachinko and mah jong, and the partnership is expected to focus on Asia, the new hotspot for global gambling. Playtech also indicated that an acquisition or two might be in the works in the coming months.

The House and Senate passed bills last weekend banning payments to online gambling sites using credit card and bank accounts. President Bush is expected to sign the measure aimed at ending all online gambling from U.S. players. However, officials say that although Congress has passed the law, some gamblers will find a way to place their bets, legal or not.

The bill’s aim is to keep gambling revenues in the US. It has already knocked some major online gambling companies out of the country. Britain’s PartyGaming Plc, Sportingbet and 888 Plc said they would move out of the US market on Monday after the bill was passed.

Keith Whyte, executive director of National Council on Problem Gambling said, “What this bill doesn’t do is actually help anybody that does have a problem with gambling on the Internet. It just creates an administrative barrier.” Continue Reading »