GLG News by Lawyers (Australia)

Rep. Barney Frank wants to repeal last year's Unlawful Internet Gambling Enforcement Act, which devastated companies like PartyGaming, Sporting Bet and 888 Holdings. This isn't going to happen, not while Bush is President. But it will help push for an 18 month study, which will then bring changes to...

Texas is seriously thinking about commercial casinos and racinos. But a bill would have to be approved by the legislature and voters, which is not likely. It does lay the groundwork for a more moderate expansion.

The Department of Justice wants everyone to believe they are going to arrest investors, especially underwriters, who helped Internet gaming companies go public. History shows there is little chance the DOJ will actually follow up on its threats. And the timing of this attack is not a coincidence.

Following the arrests of its founders, Neteller now won’t handle bets from the U.S. Neteller itself will probably not be fined or sued. Internet gaming companies will take a short-term hit.

Companies make choices about their tax risk profiles.  The Australian Taxation Office (ATO) is continuing its campaign to have tax discussed at Board level.An aggressive tax risk positioning is more likely to attract attention.   Now the ATO's message is directed to the...