Internet Gambling Prohibition and Enforcement Act of 2006, signed into law by President George W. Bush last Friday, October 13, 2006, will not prohibit but rather enhances live remote casino table game provider Kenilworth Systems Corporation’s Roulabette(TM) System.
Online LotteryChairman and Chief Executive Officer Herbert Lindo stated: “Internet gambling was always outlawed in the U.S. Las Vegas lobbied to make it legal to allow casino players to wager, from home or other remote locations, directly with the casino of their choice. With the credit card prohibition, that appears to become improbable.”
Roulabette(TM) will be primarily deployed in conjunction with Lottery Systems. Digital satellite and cable subscribers will be able to go to their local lottery agents and make cash deposits and/or collect winnings, in the same manner as if they are purchasing lottery tickets, using pre-encoded Roulabette(TM) Play Cards inserted in the lottery terminals.
“Our basic patent encompasses remote satellite broadcasts and a pending application is directed to having exclusively state lotteries and other authorized public agencies manage all the cash handling and distribution. Using lotteries, that can only by law, accept cash deposits, concerned citizens and legislators will be assured that the high school student and college freshman will not be able to participate. By using the lotteries database, the compulsive gambler can be identified and, if necessary, limited or shut down. The additional revenue collected from the lottery will be available to fund state activities such as boost school aid and teacher’s salaries.” Lindo added.
The Roulabette(TM) program will include entertainment and commentators to assist players with the rules and regulations of the games. Live casino table game action may also be offered on slot machines and video lottery terminals, as an alternative and change of pace from native Togel games.
Party Gaming Poker Suffers 90% Down in Revenue
PartyGaming’s online poker site, Party Poker, saw its share price drop another 13 percent on Tuesday, prompting analysts to suggest that its withdrawal from the US market in the wake of new US gambling law, may have accounted for a 90 percent drop in revenue.
Following its exit from the US market the company also made the decision to remove a ticker from the site which advertised the number of virtual tables in use and the number of players online.
Comparing Saturday night’s poker traffic with the previous week, Panmure Gordon’s Ivor Jones revealed, ‘Our very tentative estimate would be that rake and tournament fees would have been down more than 80%. Real money play appears to have picked up sharply at the poker sites which continue to operate in the US.’
A spokesperson for PartyGaming said the player and table number tickers had been removed because it did not want rival operators to use this information against it. One such rival, Israeli-owned PokerStars, has already begun an aggressive recruitment campaign in an attempt to leapfrog PartyGaming as the world’s largest poker operator.
Julian Easthope, a UBS analyst, said, ‘Liquidity drives revenues and PartyGaming will more than likely lose its market leading position.”