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Non-Tech : SBET : LAS VEGAS at home
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To: Gerard DeSantis who wrote (92)12/23/1998 12:54:00 PM
From: THOMAS GOODRICH  Read Replies (1) of 205
 
Gerard,

I just wanted to clarify your commentary on a couple of issues. SBET indeed has encountered legal problems over the past 2 years. The CEO was indicted by an Attorney General of another state simply because citizens of that state, I believe was Missouri, could wager over the Internet. The charges as frivolous as they were set in motion other jurisdictional issues which have been watched very closely by other prospective entrants into this lucrative arena. I would have no reason to believe SBET could not emerge as a winner eventually, possibly in a year or two. Steve Wynn and Donald Trump have been watching, however, due to regulatory issues with the Casino Control Commission of NJ and Nevada Gaming as well as pending legislation in the federal sector, domestic licensed gaming establishments cannot offer gaming over the Internet. Should that ever be possible, it's likely development companies such as SBET and SNMM (Starnet) will host their web sites. As to WWWC, there are allegations of unscrupulous behavior on the part of its president and president's family which may have caused its demise. Investors allege the principals spent their money on luxury items rather than in developing the company. WWWC was not yet a public company.
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