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USA: THE KYLE BILL ON INTERNET GAMING
PASSES FIRST STAGE THROUGH THE SENATE
UK INTERNET GAMING LEADER, SPORTINGBET.COMıS
REACTION TO THE NEWS
On Friday, November 19, the bill proposed by US Senator Jon Kyle, aiming to prevent internet gaming passed through the US Senate. The bill will now go to a full judiciary committee, before going before the full House of Representatives in the first half of 2000.
Mark Blandford, Managing Director of UK based company sportingbet.com (www.sportingbet.com) had the following reaction to the latest development.
"The news that the Kyle Bill passed through the Senate was not unexpected. The real test will be when the bill goes before the House of Representatives early next year.
If any bill were to be passed, I believe sportingbet.com would be in an advantageous position. Any law passed in the USA would be unenforceable on sportingbet.com as we are British owned, based, managed and regulated by British law. In addition, sportingbet.com has a first world licence and therefore we can provide customers with the security of betting with a regulated, experienced operator. We would anticipate that we would be a natural home for customers from the USA.
As a company we believe that this may provide us with opportunities to obtain databases from American off-shore operators, who will undoubtedly feel the heat if this legislation completes its passage through the senate."
Sportingbet.com (UK) Plc owners of sportingbet.com (Alderney) Ltd holds a unique position in the internet gaming community. Based and licensed in Alderney in the British Channel Islands, the company is fully regulated under British law, and enjoys a betting tax-free status. This status allows customers of sportingbet.com from anywhere in the world to enjoy betting with one of Britain's most respected bookmakers legally and tax-free.
The site was launched in October 1998 and was floated on the OFEX trading facility in April 1999.
sportingbet.com (Alderney) Ltd is the largest employer on the island of Alderney.
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Notes to editors:
sportingbet.com (UK) plc is quoted by OFEX, the London off exchange trading facility. www.ofex.com
Daniel Stewart & Company has approved this Announcement for the purposes of
Section 57 of the Financial Services Act 1986. Daniel Stewart & Company is
regulated by the Financial Services Authority
For further information, please contact
Leanne Tritton
ing media
Ph: + 44 (0)181 986 8111 Fx: + 44 (0)181 986 8555
Mobile: + 44 (0)7747 104 435
e-mail: leanne@ingmedia.demon.co.uk
Details of the Kyle Bill can be found at:
http://thomas.loc.gov
Bill no: S.692