ASCOT SPORTS CLOSING CONFIRMED (Update)

16 May 2008

Isle of Man regulator working with online gambling company to ensure all players are paid


The closure of the Ascot group of online gambling operations owned by Malaysian tycoon Vincent Tan over the weekend (see previous InfoPowa report) is being supervised by the Isle of Man regulating authority, according to a response to an InfoPowa enquiry this morning (Monday)

Garth Kimber, the head of e-gaming in the Isle of Man government Department of Trade and Industry, said:

"It is a commercial business decision by the parent company to stop operating in the On-Line gambling arena.

"The company is having daily dialog with the Isle of Man Gambling Supervision Commission who are ensuring that player funds are being returned to the players as part of an orderly withdrawal from the industry.

"At present there are no major identifiable problems with the process. The Gambling Commission will continue to liaise with the company and monitor the situation."

It has been pointed out to Mr. Kimber that there is a need for the company to communicate timeously with its players on the shutdown.

Online Casino News courtesy of InfoPowa