RE: CRYP. Not sure I follow that lawsuit info, and havent found details yet!, Here is the latest PR:
The i-gaming provisions were stripped from the anti-terrorism bill that is moving through Congress and expected to be fast track to the President. That happened on Friday last week. Therefore, we have a reprieve at the moment. Legislative risks in the US will continue to persist, but no longer part of the highly sensitive terrorism bill, passage of i-gaming legislation is questionable and now must go through the regular and longer legislative process. The money laundering provisions which included i-gaming in the House version is still pending, so we could see that legislation reintroduced separately and we will continue to monitor that development.
There continues to be strong opposition to banning i-gaming and certainly the banks and credit card companies continue to fight against becoming the Internet police. Other i-gaming bills targeting the US banking systems as the enforcers failed last year, reintroduced in July 2001 and have continued to languish. So the support for such legislation is questionable and weakens every year.
Nevertheless, CryptoLogic will continue to focus its efforts in Europe and Asia where there are immediate revenue generating opportunities. Europe being first priority -- as you have seen in the signing of Littlewoods Leisure in the UK -- and a region that is further along in regulation for i-gaming. We believe that the American market will eventually regulate and continue our discussions with top US names, but until that market develops more fully, CryptoLogic will remain focused abroad in its regulatory efforts -- Australia, Isle of Man and Alderney, expanding financial network and new licensee development.
Regards, Nancy
Nancy Chan-Palmateer
Director, Communications
CryptoLogic Inc." |
