Norway On Track for Regulated Online Gambling

Norway On Track for Regulated Online Gambling

Norwegian Culture Minister Thorhild Widvey is seeking to liberalize Norway’s online gambling laws.

Norway’s aspiration to legalize on the web gambling has moved one step closer: the country’s heritage Committee has requested an impact assessment on dramatic legislation proposals that could completely open the market up. The committee will closely examine the experiences of other nations, such as Sweden, Denmark together with UK, before drafting its own legislation that the government hopes to implement the following year.

Norway presently has some of the tightest gambling controls in European countries. Online gambling is largely unlawful in the united states, with just two companies that are state-owned to supply restricted games of opportunity to its citizens, Norsk Tipping and Norsk Rikstoto. Norsk Tipping offers games like lotteries, keno plus some sports betting, and falls under the jurisdiction of the Ministry of community and Church affairs, which ensures that players are merely permitted to place bets at certain times of the time and imposes restrictions in the amount players are allowed to bet. Norsk Riksoto, meanwhile, offers parimutuel gambling exclusively for horseracing.

Nothing to Bank On

In 2010, the government passed a law that banned Norwegian banks from processing all forms of gambling transactions, online and live, not just within Norway, but all over the entire world, essentially barring Norwegians from ut (suite…)

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Enjoy Atlantic City on Auction Block for $90 Million Starter Bid

Enjoy Atlantic City on Auction Block for $90 Million Starter Bid

Florida investor Glen Straub has kicked from the auction bidding on Revel for $90 million.

Atlantic City’s Revel Casino is up for auction grabs, and a Florida real-estate developer has offered $90 million in money to acquire the property which was shut straight down for good the other day. Glenn Straub, whom owns the 22,000-acre Palm Beach Polo and Country Club in Wellington, Florida, will now end up being the ‘stalking horse,’ or lead bidder, who may be outbid by competitors at an auction on September 24. Other buyers that are potential until September 23 to produce offers.

Straub said this that his offer was ‘an opportunity to turn things around week. That is what they need now; a brand new direction,’ he included. ‘Give us our six months, and now we’ll actually actually likely be operational. In 2 years, we’ll be 100 percent open.’

Which begs the question, what is open, exactly? It appears unlikely that Straub will reopen Revel as being a casino; the Revel Casino project, after all, had been a cataclysmic $2.4 billion failure with huge costs that are operational had been hemorrhaging $2 million a week when it shut. And besides, it seems Straub features a personal dislike of casinos.

Casino Physician

‘When everyone thinks of Atlantic City, they think of casinos,’ Straub told USA Today, adding which he dislikes the idea of Atlantic City as a casino town and could be uncomfortable with the thought of his (suite…)

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