The Gibraltar Conspiracy

[Nate tha\\\' Great]

PokerStars is owned by a Costa Rican parent and presently operated out of the Isle of Man.

As for the others, Gibraltar is a tiny overseas territory of the United Kingdom. It is not calling the shots on much of anything, including this issue.

[solucky]

I just read that George W... tell someone " Iraq, north Korea, Iran and GIBRALTAR " are extreme bad nations [img]/images/graemlins/grin.gif[/img]

[ACW]

I think it's more that the execs don't want to risk getting arrested on their Florida holidays....

[ACW]

[ QUOTE ]


I dont know why it has to be repeated 300 times a page. They have pulled out because they are public companies, traded on a stock exchange, with regulations that include complyng with laws of all countries that the companies have dealings in.

As far as being located in Gibraltar, there are corporate disclosure and accounting benefits to that situs even though it is a UK country.

[/ QUOTE ]

There's another reason.

They regard the US market as lost unless the regulations change. They're aware that online gambling is regarded as borderline smutty in Europe, and want to portray themselves as squeaky clean in this market. The risks of continuing to operate in the US are manifold :

They might lose investors.

They might lose European customers, who don't want to indulge in anything that might be seen as illegal.

EU countries might follow suit with legislation if they don't show themselves to be transparently honest businesses.

Plus the directors don't want to get arrested next time they visit the US.....

[MakesCents]

[ QUOTE ]
They might lose investors.


[/ QUOTE ]
Did this make any1 else laugh? They just lost 70% of thier stock's value just on the news that they were shutting out the US, you think they might lose investors do ya?

[dlk9s]