Monthly Archives: July 2016

Brexit Won’t Harm Gibraltar Online Gambling Industry, Says GBGA

The Gibraltar Betting and Gaming Association has moved to allay fears of the potential fallout from Brexit on its online gambling industry. Gibraltar is a member of the European Union by virtue of its status as a British Overseas Territory, and its inhabitants voted overwhelmingly in favor of remaining in the union in last month’s […]

The post Brexit Won’t Harm Gibraltar Online Gambling Industry, Says GBGA appeared first on .

Cyprus resort stages mock terror attack to promote casino night

A resort in the Greek-controlled half of Cyprus has apologized after staging a mock terror attack intended to promote its casino options.

Last week, guests at the First Choice Holiday Village Aliathon in Paphos were shocked when their evening meal was interrupted by a group of men wearing dark clothes who burst into the restaurant and began firing guns into the air.

The men turned out to be resort staff firing cap guns but, coming just two days after ISIS-inspired terrorists attacked the Istanbul airport in nearby Turkey and four days from first anniversary of the Tunisian beach terror attack, the hotel guests could be forgiven for thinking this was the real thing.

The Sun quoted a group of British tourists who claimed the men were supposed to be perceived as ‘gangsters’ and that the stunt was intended to promote the resort’s ‘casino night.’ The hotel’s management has apologized for the boneheaded promotion and vowed that there will be no further incidents of this sort.

India gov’t urged to allow foreign direct investment in gambling sector

A non-profit pro-gaming group in India is lobbying the government to permit foreign direct investment (FDI) in the country’s gambling, betting and lottery sector.

On Tuesday, the Economic Times reported that the All India Gaming Federation (AIGF) had written to the Union Minister of State for Commerce & Industry urging him to amend the laws prohibiting FDI in India’s gambling sector “in the interest of the nation and its citizens.”

Under Para 5.1 of the FDI rules, foreign firms are prohibited from any form of technological collaboration in the gambling sector. The prohibition also covers franchise, trademark, brand name and management contracts.

The AIGF notes that the government has been amending the FDI rules to exempt certain industries and suggested gambling should be included in the list of exemptions. The AGIF suggested allowing international companies to take an equity stake of at least 26% in gambling joint ventures while allowing Indian firms access to these firms’ technology.

India gov’t urged to allow foreign direct investment in gambling sector

A non-profit pro-gaming group in India is lobbying the government to permit foreign direct investment (FDI) in the country’s gambling, betting and lottery sector.

On Tuesday, the Economic Times reported that the All India Gaming Federation (AIGF) had written to the Union Minister of State for Commerce & Industry urging him to amend the laws prohibiting FDI in India’s gambling sector “in the interest of the nation and its citizens.”

Under Para 5.1 of the FDI rules, foreign firms are prohibited from any form of technological collaboration in the gambling sector. The prohibition also covers franchise, trademark, brand name and management contracts.

The AIGF notes that the government has been amending the FDI rules to exempt certain industries and suggested gambling should be included in the list of exemptions. The AGIF suggested allowing international companies to take an equity stake of at least 26% in gambling joint ventures while allowing Indian firms access to these firms’ technology.