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Sweden's Svenska Spel Cannot Expand Online Poker For NowMon, Nov 12th, 2007 @ 12:00am The Swedish government rejected Svenska Spel's request to expand its licence to organize and distribute online poker services until an internal investigation into their existing license, which expires 30 June 2008, is completed. The government last Thursday told Svenska Spel, the government-owned gaming monopoly, that online expansion will not be granted until the results are in from that investigation. The government also stressed that Svenska Spel must consider the social effects of gambling, along with profitability. Online gambling in Sweden is growing quickly, with Svenska Spel currently controlling 35% of the market. Svenska Spel reaped a profit of nearly 1.4 billion Krona (USD $215 million) in the third quarter. Overall profits for the first three quarters were more than 4 billion kronor, up 19 percent compared to 2006. Yet late last month, the ruling party in Sweden voted to end support for their government's monopoly on Sweden's online gambling industry, and also to privatize Svenska Spel, though no changes have yet occurred (click here for related article). Industry watchers attribute the vote largely to pressure from the European Commission (EC), headed by former Irish finance minister Charlie McCreevy (58), who has been pressing Sweden to open up its gambling monopolies, and has threatened a lawsuit in the European Court of Justice (ECJ) to enforce compliance with the Union's requirement for the free movement of trade and services (click here for related article). The EC also criticized Sweden directly for preventing competition with their state-supported gambling monopolies through laborious regulatory hurdles. Read Related Articles:
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OPPAGA Reports on Florida's Online Poker Options Given that UIGEA permits individual states to regulate online poker, the Florida Legislature's Office of Program Policy Analysis and Government Accountability (OPPAGA) published a report this week presenting three options available to Florida State lawmakers in order to protect consumers from unlawful internet poker: regulate it, prohibit it, or carry on with the status quo pending federal legislation.
Local Businessman Bags European Poker Tour Vilamoura Bling The European Poker Tour rolled into the Casino Vilamoura last week, instantly generating the richest poker prize pool in the nation of Portugal's history.
Keikoan Captures Harvey's Lake Tahoe WSOPC Championship This week marked the finale of the biggest annual tournament series in Northern Nevada, the WSOP Circuit championship at Harvey's Lake Tahoe. While the Main Event saw only a modest turnout, it did boast of a tough final table, and a WSOP bracelet owner as the eventual champion.
WSOP Main Event Champ Joe Cada to Appear on Letterman The poker world will receive some late night attention tonight as "The Kid" Joe Cada, the youngest champion in the four decade history of the World Series of Poker Main Event, takes a seat next to embattled talk show host David Letterman.
First Korean Champ of Asia Pacific Poker Tour Crowned in Cebu Another stop on the Asia Pacific Poker Tour is in the books, this time it's the APPT Cebu in the Philippines, and for the very first time a Korean player has come out on top.
Pollack Done as Commish of World Series of Poker Just three days after crowning Joe Cada as the 2009 Main Event champion, officially closing the special 40th anniversary run of the World Series of Poker, Jeffrey Pollack has resigned his post as Commissioner of the WSOP.
Durrrr Signs as Team Full Tilt's Youngest Member Tom "durrrr" Dwan is the newest member of Team Full Tilt, the online site's highest level of affiliation. At 23, Dwan is the youngest of the now 14-person team. The high stakes cash phenomenon was nominated for induction this year into the Poker Hall of Fame until the Hall of Fame Governing Council decided he was too young to meet the "has stood the test of time" qualification.
Joe Cada Becomes Youngest World Series of Poker Main Event Champ History was made early Tuesday morning in Las Vegas as 21-year-old Joe Cada outlasted Darvin Moon in heads-up play to claim the 2009 World Series of Poker Main Event bracelet and more than $8.5 million.
Moon and Cada Heads-Up, Ivey 7th at WSOP Main Event Final Table After a marathon session at the most esteemed table in the poker world, a 21-year-old and a logger are set to go one-on-one for the World Series of Poker Main Event bracelet.
PokerStars Launches New UK and Ireland Poker Tour PokerStars.com has announced the start of a new poker tour with stops throughout the United Kingdom and Ireland. The UK and Ireland Poker Tour (UKIPT) will kick off in Galway, Ireland in mid-December, and the first event in the UK will be held in Manchester in February. |
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