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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook
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To: RobbRacer who wrote (6957)9/3/1999 5:34:00 PM
From: THOMAS GOODRICH  Read Replies (1) of 8858
 
RobbRacer, On the contrary. Rechartering in Antigua or other appropriate jurisdiction was always part of Starnet's contingency plan. It should not be construed as an admission of guilt about anything but as a prudent move from a business perspective. PlayStar did similar last year as did Cyberoad.com. Neither of these companies were in trouble but redomiciled to insulate themselves from potential legal concerns from operating in Canada. Expect other Canadian-based gaming companies to follow. Similar jurisdictional issues exist with at about a dozen states in the US who have proclaimed Internet Gambling illegal in the absence of federal legislation.

Also, the offenses supposedly committed by Starnet are believed more technical in nature rather than substantive criminal offenses and the worst-case scenario will likely be a small fine. If you read the sixty-eight page search warrant, it appears Las Vegas Casinos was largely responsible for kicking off this whole fiasco and they were one of the sites welcoming Canadian citizens via their own merchant processing service. It's kind of like the duck calling the Mallard a "quack" IMO!

As to the prospect of a temporary halt in the SNMM, I'd probably welcome it anyway. The reality now is Starnet is entering its busiest season ever and unless the company shuts down, it's going to rake in lots of money.
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