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Non-Tech : Gambling, The Next Great Internet Industry

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To: kidl who wrote (641)	6/29/2001 1:23:08 PM
From: Herc	of 827

<<Packer targets Vanuatu for Net casino 28may01 AUSTRALIA'S richest man Kerry Packer could be planning to shift his online gaming operations to Vanuatu to escape restrictive Australian legislation. The move would allow the Packer family company, Publishing and Broadcasting Limited (PBL), to bypass the federal government's proposed ban on internet gambling, according to reports. A Packer internet casino based on the small South Pacific Island would also mean PBL would pay that country's 2.5 per cent tax on online gambling - one of the lowest in the world. After investigating jurisdictions around the world where online gambling is legal, PBL had settled on Vanuatu as the preferred option, the SMH reported. "There has been no final decision but that is certainly most likely destination," a senior PBL executive said. A Packer-owned internet casino is expected to earn $50 million in its first year.>>

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