Post by Randy C on Oct 3, 2006 14:54:25 GMT -4
Wow! I hadn't realized how quickly this Bill would be passed, but it has and now we are presented with a very complex and confusing set of issues.
NOW...what do we do? That seems to be the $10 million dollar question at this juncture.
Interestingly enough, each company seems to be handling the issues differently, so there is no "standard" per se as to what we need to do at this point. Also, our beloved mein fuhrer, el presidente...senor Bush hasn't signed the bill yet. What's more, the activity or enforcement of the bill won't actually begin right away. The bill has a 270 day "grace period" for the Federal Reserve to initiate the proper enforcement.
This is a very sad day for me personally, because it MAY mean the END of the PowerPokerZone as we know it. This is not certain right now, but it may be a possibility.
I have spoken to a friend of mine at Bodog and he assured me that they WILL come up with a creative alternative for their U.S. customers to make deposits and withdrawals, so this is GOOD NEWS as far as I am concerned. Put it this way...the U.S. is a HUGE part of their business and they will be making concessions to get around the new law!
Here is a statement from Calvin Ayres, Owner of Bodog:
"Hi Randy,
Here is the statement for you.
Statement from Calvin Ayre, Founder of Bodog.com
It will likely take months to fully understand what, if any, ramifications there are from this new law. We will, however, continue to monitor the situation closely. Bodog.com, having positioned itself in such a way that it is not dependent on any one revenue source, will continue to provide its international customers with a broad-based digital entertainment offering, which includes an international record label (Bodogmusic.com), a publishing division that produces an online magazine (BodogNation.com), and a television production unit responsible for the recently launched BodogFight.com. In addition to our growing online gaming operations, these divisions will enable our brand to solidify its position as a worldwide leader in digital entertainment. If anything, the pending legislation has validated our broad-based digital entertainment model and our decision to stay private. We see the future as very positive for Bodog.com, as we expand internationally and laterally into more forms of entertainment.
- Calvin Ayre, Founder of Bodog.com Entertainment Group
Cheers;
Peter Theodoropoulos
Affiliate Account Manager"
All In,
Randy C -
NOW...what do we do? That seems to be the $10 million dollar question at this juncture.
Interestingly enough, each company seems to be handling the issues differently, so there is no "standard" per se as to what we need to do at this point. Also, our beloved mein fuhrer, el presidente...senor Bush hasn't signed the bill yet. What's more, the activity or enforcement of the bill won't actually begin right away. The bill has a 270 day "grace period" for the Federal Reserve to initiate the proper enforcement.
This is a very sad day for me personally, because it MAY mean the END of the PowerPokerZone as we know it. This is not certain right now, but it may be a possibility.
I have spoken to a friend of mine at Bodog and he assured me that they WILL come up with a creative alternative for their U.S. customers to make deposits and withdrawals, so this is GOOD NEWS as far as I am concerned. Put it this way...the U.S. is a HUGE part of their business and they will be making concessions to get around the new law!
Here is a statement from Calvin Ayres, Owner of Bodog:
"Hi Randy,
Here is the statement for you.
Statement from Calvin Ayre, Founder of Bodog.com
It will likely take months to fully understand what, if any, ramifications there are from this new law. We will, however, continue to monitor the situation closely. Bodog.com, having positioned itself in such a way that it is not dependent on any one revenue source, will continue to provide its international customers with a broad-based digital entertainment offering, which includes an international record label (Bodogmusic.com), a publishing division that produces an online magazine (BodogNation.com), and a television production unit responsible for the recently launched BodogFight.com. In addition to our growing online gaming operations, these divisions will enable our brand to solidify its position as a worldwide leader in digital entertainment. If anything, the pending legislation has validated our broad-based digital entertainment model and our decision to stay private. We see the future as very positive for Bodog.com, as we expand internationally and laterally into more forms of entertainment.
- Calvin Ayre, Founder of Bodog.com Entertainment Group
Cheers;
Peter Theodoropoulos
Affiliate Account Manager"
All In,
Randy C -
