| NEWS |
| 22.04.2008 |
| South Africa Prepare to Sanction Online Gambling |
As gambling laws in South Africa are becoming more relaxed the interest of gaming operators to the country might be easily predictable. Currently online gambling is yet unlawful under the National Gambling Act; however, total changes are expected with the imminent passing of the National Gambling Amendment Bill. Still now those breaching the gambling law face up to 10 years of imprisonment.
So, Victor Chandler International group has already announced its close-in plans to open a venue in South Africa. British sports betting and gaming company that is headquartered in Gibraltar, is one of the world known operator of sports books, poker rooms and a casino.
Bwin Interactive Entertainment is also known to have similar plans in South Africa along with Spain and Ukraine. The information was revealed in Austria's Wirtchaftsblatt newspaper and the source was not disclosed. Bwin Interactive Entertainment is headquartered in Vienna and appears to be one of the leading gaming operators in Europe. Nevertheless, a spokesperson for Bwin, Kevin O'Neal denied making any comment on the issue till they were completely prepared motivating that it is done for competition reasons.
According to Chandler the project will probably cost between £200 000 and £300 000. The company has a turnover in excess of £1 billion and has more than half a million customers in 160 countries all over world.
Last September Mandisi Mpahlwa, trade and industry minister assured the national assembly that the National Gambling Amendment Bill was aimed at securing the natives from negative social effects of gambling that is underage gambling, gambling addiction and fraud. Mpahlwa stated that every willing person would be provided with the services of a licensed operator. The licensing procedure will be rather tough and fully subject to the Financial Intelligence Centre Act.
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