Bingo Gardens – A smokers paradise?

Bingo operators are looking to introduce ‘Bingo Gardens’ to help the smokers that are no longer allowed to light –up in Scottish bingo halls. The players would be given a hand held device to continue gambling in the Bingo Garden.

The online bingo industry emerged last year as the biggest casualty of the smoking ban in Scotland. Admissions declined markedly, hitting prize money on the “main stage” bingo games. 
England is set to introduce a smoking ban next month and it’s expected that the smoking ban will have the same effect on the bingo community in England as has been seen in Scotland.

The ban has seen approximately 28 bingo halls closing their door to Bingo goers.

Online Gambling: US protectionism poses threat to world trade

Minister of Finance and the Economy Dr. Errol Cort has said that US protectionism can threaten international trade.
Speaking during the 37th annual Meeting of the Board of Governors of the Caribbean Development Bank (CDB), Dr. Cort provided a review of the ongoing cross-border Internet gambling dispute with the US as part of a wider update on economic and social developments in Antigua & Barbuda.
He outlined the almost five-year process during which Antigua & Barbuda has sought to employ the avenues open to it at the World Trade Organisation (WTO). Dr. Cort noted that the US has sought to adopt more protectionist stances, refusing to comply with WTO rulings in Antigua & Barbuda’s favour.
This, he said, “could significantly impede the international trade agenda and provide a prima facie basis for legitimately questioning whether there is true fairness and equity in the world trade system.”
These challenges notwithstanding, Dr. Cort said that Antigua & Barbuda will “continue to pursue avenues for collaboration with the US to ensure a mutually satisfactory outcome.”
Dr. Cort also addressed matters of regional integration, starting at the meeting that the government had sought to operationalise the Caricom Single Market and Economy.
He stressed that the government was committed to the integration process, but pointed Antigua & Barbuda “remained resolute that there be a concerted effort towards the expeditious implementation of the Development Fund in a manner that would ensure the equitable distribution of the benefits of the CSM across member states.”The operationalisation of the Regional Development Fund has been a sticking point for OECS states, which have expressed fears that they could be sidelined in the regional integration process unless disadvantaged states were given funding necessary to upgrade their systems. 

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Smoking and the Bingo Hall

Clouds are gathering over the UK bingo halls, with the imminent arrival of the ban on smoking in public places, the new law comes into force in England on the 1st July.

With a poll suggesting that more than 70% of Bingo players in England enjoy lighting up during the games.  There is potential for an exodus from Bingo halls by smokers who are unwilling to accept that they cannot now smoke whilst playing their bingo. 

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Barney Frank Disappoints Online Gambling Industry

British online gambling shares tumbled sharply today, after having climbed steadily in recent weeks bolstered by the news that Frank Barney was planning a bill to repeal the UIGEA.  The latest announcement from Frank is that he is tabling an ‘alternative bill’, which will require operators to apply for a license to operate games in the US.  This would effectively ‘regulate gambling’ not ‘repeal the UIGEA as was previously hoped.  The widespread feeling of this about-turn from Frank is disappointing to say the least. 

The big fall in shares reflect investor disappointment in this news.  Many investors were optimistic that Frank would be introducing a bill seeking to completely repeal the UIGEA.  Many articles found on online news sites indicated as much.  Most online gambling stocks were artificially inflated by Frank’s strong comments in recent months, in which he described the UIGEA as “One of the stupidest things he had ever seen and wanted it ‘undone’, adding “It was not the government’s job to protect people from themselves”.

However, some analysts feel the market has over-reacted to the disappointment of the watered-down bill.  A writer for BettingMarket.com suggested the market is misreading the situation, pointing out that the market appears not to be taking into account the fact that big players such as PartyGaming could still re-enter the US market in a joint-venture with a US-licensed entity, (such as the Seminole Tribe of Florida for instance), if Frank’s bill should be successful.  Additionally, PartyGaming could become a prime takeover target for a US-based casino or company wishing to enter the global online poker arena.

Whether or not this means PartyGaming shares are currently under-valued following recent slides remains to be seen.  The share price had risen spectacularly in the last month or two on not much else apart from Barney Frank-induced excitement.

PartyGaming closed at 46.25p today, down from a high of 58.5p a week ago.

Following the trade dispute with Antigua & Barbuda

A German court has ruled in the case of a Bavarian law that attempted to prevent online businesses from marketing their services in competition with the state-supported outlets, but that ban was prevented from being put into effect by a higher court pending resolution of the case.
The ruling has resulted in the case being dismissed in its entirety by the German Court. This in effect allows wagers to be taken by non Bavarian companies.

Another European county also made the news with its efforts to protect the state run monopoly of its gaming industry. 
Sweden has already been cited by the European Union for its failure to open up its market to outside interests.  Officially Sweden will end the state monopoly, but will introduce high fees and other requirements to discourage potential competition.

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