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Tsunami hit the online gambling industry

Discussion in 'Casino Industry Discussion' started by Ian_go, Oct 28, 2006.

    Oct 28, 2006
  1. Ian_go

    Ian_go Dormant account

    keeping the peace
    A tsunami hit the online gambling industry this month and it washed right up to the doors of a building on Highway 138 on the Kahnawake Mohawk reserve.

    The building houses Mohawk Internet Technologies, an 8-year-old business that has become remarkably profitable by servicing some of the world's most popular Internet gambling sites.

    Now, the companies behind many of those sites have been dealt a losing hand by a U.S. law. The Unlawful Internet Gambling Enforcement Act, as it's called, is aimed at stamping out online gaming in the world's biggest market for the activity.

    Signed into law on Oct. 13 by President George W. Bush, the legislation outlaws most online gambling and prohibits credit-card and electronic fund transfer companies from processing transactions from U.S. players.

    Experts have expressed doubts about whether the law can be effectively enforced.

    Still, since U.S. gamblers were estimated to supply half of the online gambling industry's $12 billion U.S. in revenue last year, the....You must register/login in order to see the link.
  2. Oct 30, 2006
  3. paul02085

    paul02085 Senior Member

    Fishing :)
    70% Net Profit. Can you say a racket?

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