The online gambling industry has been desperately hoping that an online payment processor can move into the gap left by NETeller's withdrawal from the US and Canadian markets, and it now seems as if Citadel might be positioning itself to become the preferred payment processor for online gamblers.
The OnlineCasinos website published an interesting article speculating that Citadel Commerce might be about to make a play to become the primary online gambling transaction processor. The reason for this speculation is an announcement made by ESI Entertainment Systems (of which Citadel Commerce is a subsidiary) that it was relocating its intellectual property and primary data centre from Vancouver to Malta, a small island in the Mediterranean, which has become an important licensing centre for online gambling companies.
Citadel withdrew from the US market following the passing of the Unlawful Internet Gambling Enforcement Act and has been gradually restructuring its operations, reducing its North American marketing personnel, and adding staff to its call centre in Costa Rica and its operational and sales centre in the UK.
If the restructuring is a sign that Citadel plans to tap into the desperate demand for reliable and trusted online payment processors, it will be a move welcomed by the online gambling industry, which has seen profits crash as players face increasing difficulty in funding their accounts.
Shares in ESI Entertainment Systems (TSX: ESY) suffered along with the rest of the industry post-UIGEA, dropping to 35c on January 18 after opening at $2.95 on March 30, 2006. They are currently trading at 40c (at time of writing).
If the speculation that Citadel Commerce will make a play for the online gambling transaction market in the US from Malta turns out to be justified, the current price of 40c per share will look like a bargain in hindsight.
On-line scratch card site Scratch2Cash produced a very lucky winner recently when it entered the record books by producing a record smashing new winner. A devoted player took home an extra 200,000 Euros, the largest amount ever won on an on-line scratch card.
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The internet payment system ClickandBuy, a full-service solution for e-payment and billing, has replaced credit cards as the no. 1 means of payment in the internet. Within only one month, ClickandBuy (www.clickandbuy.com) succeeded in penetrating the Dutch e-payment market with iDeal (www.rabobank.com).
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The Jackpot Factory (www.jackpotfactory.com), a leading online casino group known for first-rate customer support and a wealth of games, announced that its All Slots Casino (www.allslots.com) will now offer multiple languages, allowing French, German, Italian and Spanish speakers to play over 300 casino games in a localised language environment.
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A controversial law enacted last year that makes online gambling a Class C felony in Washington State is now being challenged in a court of law by a Renton attorney.
Lee Rousso filed suit against the State of Washington on Friday, alleging that SB 6613, the bill signed into law last year, is unconstitutional.
Calling it a direct violation of the U.S. Constitution\'s commerce clause, Rousso said the first legal challenge to the state law also should be the last.
\"I think my chances are darn good,\" he told the Seattle Post Intelligencer, which itself had concerns over featuring po...
Jordan Gerberg, Founder of WorldwideLottery.com will be in Macau, People’s Republic of China, June 13-14, 2007 to meet with industry leaders and representatives of the Asian and International gaming markets.
Worldwidelottery.com was developed several years ago to become the leader of an established $200 billion dollar global lottery industry, and as such, WorldwideLottery.com is capable of becoming an extremely profitable company. According to Mr.Gerberg, “The exceptional marketing advantage and pervasiveness of the WorldwideLottery.com domain will provide branding superiority, which in ...
Neteller plc has signed agreements with the United States Attorney\'s Office for the Southern District of New York (\"USAO\") and Navigant Consulting, Inc. (\"Navigant\"), a forensic accounting firm, that outline terms and a timeline under which Neteller will work toward the orderly distribution of funds to its US customers.
Under the agreements, Neteller says it anticipates that \"within the next 75 days\" it will be able to announce a plan by which the funds will be distributed to US customers. Navigant will also provide a report to the USAO on Neteller\'s current financial condition.
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Germany and five other European Union countries will today face renewed pressure to abolish restrictive laws on gambling and sports betting operators, as part of a wider campaign by the Commission to inject more competition into one of the most politically sensitive sectors in the region.
Brussels last year opened no fewer than 10 infringement cases alleging that countries including Germany, France, Italy, the Netherlands, Sweden and Austria were in breach of EU internal market rules. The Commission argues that gambling operators should be treated like other service providers and has so ...
The online gambling industry has been desperately hoping that an online payment processor can move into the gap left by NETeller's withdrawal from the US and Canadian markets, and it now seems as if Citadel might be positioning itself to become the preferred payment processor for online gamblers.