The Degree of Togel Hongkong Regulation

 

When the online operation was being planned, Kjaer said, Portugal was in the process of handing over control of Macau to China. Neither government wanted to discuss Internet gaming, so his company looked overseas for a venue where costs would be low. He said they didn't care about whether the site was based in a highly regulated jurisdiction.

 

"What we said was," Kjaer said, "'Stanley Ho's 80 years old; he's got more money than God. And he's now putting himself on the Internet. If he's operating under the Taliban in Afghanistan or if he's operating in the most regulated environment doesn't matter."

Ho couldn't afford to have one of his online players complain that they were cheated, Kjaer said, because his reputation would be ruined in a culture where "face is everything."

 

"So we simply went with the idea that it's his reputation and that's what we have to protect and that's what we're living on."

 

PBL's land-based Crown Casino operates in the highly regulated environment of Australia. PBL's Internet casino, CrownGames, is governed by the regulations of Vanuatu, which the company says follow the stringent standards that Australia set for online gaming. But PBL's MacDonald said the imprimatur of regulators may not be so important to players.

 

"Having the regulatory seal of approval isn't as big as what I thought it might be," MacDonald said. "Once the consumer has interacted with you for a period of time, they gain that level of trust. As long as they (the sites) pay, the customer has that level of trust. That level of trust is also generated by the amount of advertising that's out there."

 

But for the third major land-based casino firm represented at the Summit Togel Hongkong session, regulation is everything. Tobin Prior, chief executive officer of Sun International Online, said that when his company began working on its Internet casino in 1999, "what we first set about addressing was all the concerns that regulators have."

 

Sun International Online is part of Sun International Hotels Ltd., a Bahamian company whose flagship property is Atlantis, a large resort on Paradise Island in The Bahamas. (The company announced Tuesday that it will soon change its corporate name to Kerzner International Ltd.)

 

In September, Sun received one of the first three licenses for online casinos to be issued by the Isle of Man, a self-governing, dependent territory of the British Crown. The Isle of Man's regulations for online casinos are the most stringent in the world.

Sun launched its CasinoAtlantis.com on Dec. 31, 2001, operating on Boss Media gaming software. It' the only one of the online casino licensees on the Isle of Man to be operating.

 

In February, Station Casinos, the dominant operator of casinos in the Las Vegas "locals" market, announced that it would pay $5 million for a 50 percent stake in CasinoAtlantis.com. That deal is pending Isle of Man regulatory approval and is expected to close in the third quarter.

 

Prior said that regulators in the jurisdictions where Sun operates land-based casinos are concerned about a host of issues in online gaming--such as underage gaming, money laundering, data protection, dispute resolution, certification of game logic, financial problems such as credit card fraud, prohibited jurisdictions, advertising and marketing.

 

"Our whole approach," he said, "was to say, 'Well, if we can address each one of these (issues) in turn and come up with a real practical solution that meets with the approval of regulators who regulate our existing business, then we can enter the space. If we could plug each of these gaps we could basically develop a new model for gaming on the Internet.'

 

"The early entrepreneurs were attracted by the lack of regulations in this space and the fact that they could do almost what they wanted. We had to approach from a different paradigm."

 

After two years of meeting with land-based regulators and developing procedures, Sun decided it had to test everything in a live environment. For six months last year, it ran a site called Ambassador Casino. Prior said there was no branding or reference to the parent company. Ambassador operated as a beta site, and then was closed.

 

 

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