Post by jdaddy on Apr 3, 2008 17:15:55 GMT -4
Dutch Chill on Online Poker
BY: BRENDAN MURRAY
PUBLISHED: Wednesday Apr 02, 2008 06:44 AM
Holland Casino Hopes of Launching Online Poker Dashed by Upper House of Parliament
Reuters news agency today reported the upper house of the Dutch parliament narrowly defeated a bill passed in the lower house in 2006 which would have allowed state gambling monopoly Holland Casino to launch an online gaming site.
The bill was defeated by 37-35 votes yesterday and means Holland Casino, which had signed a deal with Cryptologic to use its software, is now back at square one.
Cryptologic, while disappointed with the decision, said it would have no material effect on the company's trading figures. “While advocates of safe, secure, and regulated e-gaming are disappointed with the Dutch decision, CryptoLogic never places all its bets on one table,” said Brian Hadfield, the company's president and CEO. “That's why this decision will have no material impact on our business. We recognised the challenge in Holland early and prepared our business by accelerating other revenue-generating initiatives.”
The Dutch government is one of 10 in Europe currently under scrutiny from the European Commission for hampering or outright banning competition from other EU countries. The Netherlands is likely to face legal action in the near future over its position.
BY: BRENDAN MURRAY
PUBLISHED: Wednesday Apr 02, 2008 06:44 AM
Holland Casino Hopes of Launching Online Poker Dashed by Upper House of Parliament
Reuters news agency today reported the upper house of the Dutch parliament narrowly defeated a bill passed in the lower house in 2006 which would have allowed state gambling monopoly Holland Casino to launch an online gaming site.
The bill was defeated by 37-35 votes yesterday and means Holland Casino, which had signed a deal with Cryptologic to use its software, is now back at square one.
Cryptologic, while disappointed with the decision, said it would have no material effect on the company's trading figures. “While advocates of safe, secure, and regulated e-gaming are disappointed with the Dutch decision, CryptoLogic never places all its bets on one table,” said Brian Hadfield, the company's president and CEO. “That's why this decision will have no material impact on our business. We recognised the challenge in Holland early and prepared our business by accelerating other revenue-generating initiatives.”
The Dutch government is one of 10 in Europe currently under scrutiny from the European Commission for hampering or outright banning competition from other EU countries. The Netherlands is likely to face legal action in the near future over its position.