Two Plus Two Older Archives  

Go Back   Two Plus Two Older Archives > General Poker Discussion > News, Views, and Gossip

Reply
 
Thread Tools Display Modes
  #1  
Old 12-24-2005, 02:41 PM
smb394 smb394 is offline
Senior Member
 
Join Date: Feb 2005
Location: The search function DOES work.
Posts: 353
Default \"Wall St. Bets on Gambling on the Web\"- NYT Article

"Wall St. Bets on Gambling on the Web"- NYT Article

[ QUOTE ]
The ownership rolls of offshore casinos read like a Who's Who of America's top investment firms. For example, public filings show that tens of millions of shares of SportingBet, a company listed on the London Stock Exchange that allows people to place bets on sporting events, are owned by Fidelity, Merrill Lynch and Goldman Sachs.

Fidelity Management holds shares worth about $363 million, or 14.1 percent of the outstanding shares. Those shares are largely held in mutual funds. Merrill Lynch Asset Management has $164 million in holdings, and Goldman Sachs Group Inc. has $137 million.

[/ QUOTE ]

This is good.
Reply With Quote
  #2  
Old 12-24-2005, 08:05 PM
Luv2DriveTT Luv2DriveTT is offline
Junior Member
 
Join Date: Apr 2004
Location: USA
Posts: 3
Default Re: \"Wall St. Bets on Gambling on the Web\"- NYT Article

Best quote in the article.

[ QUOTE ]
Legal experts are divided over whether American investors and the investment houses that operate mutual funds could themselves be seen as criminally liable for their actions by providing financial backing for offshore casinos. To be sure, it is not uncommon for Americans to invest in overseas companies whose operations may be considered illegal or unacceptable here, from sweatshop manufacturers to European energy producers that do business in Iran.

The difference with Internet gambling is that the activity takes place on domestic shores - with Americans placing bets online using their home computers - and the Justice Department has stated clearly that the operators are violating American law.

Jaclyn Lesch, a spokeswoman for the Justice Department, said that the agency considered online gambling illegal but declined to "comment on the liability or hypothetical liability of a company or an individual."

But Internet gambling analysts and company executives said that the investments highlight how widely the federal policy is, in essence, being ignored.


[/ QUOTE ]

TT [img]/images/graemlins/club.gif[/img]
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 01:26 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.