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Online Operation Receives Notice from Kiwi Authorities

American online casino firms are not the only firms dealing with the law. The New Zealand government ordered Christchurch Casino to withdraw from the New Zealand online gambling market within the next seven months. The online gambling operator also owns land-based gambling operations in the country, which he can still run. The press in the country reported that the Kiwi Government Internal Affairs Department issued the order to close the online gambling site. The online operation in question consists of two online casinos, one poker room and an online bingo platform.

The Internal Affairs Department decided that the online casino is breaching the country’s act on internet gambling and that it must be shut down. In the past, the online casino was cleared during a previous investigation, but the final verdict was that the online casino firm must stop running it. The press also reported that Christchurch Casino has informed the Department that it will turn the online gambling site over to different hand in the very near future. However, the name of the new owner for the online gambling site was not disclosed. The site was first launched back in 2000 and gradually expanded its network of sister websites that offered online bingo gambling.

The online gambling market is very dynamic. We see legislation changing the way firms operate and the kind of gambling offers that the public can choose form. The name of the new owner was not mentioned, but it will become available soon enough. Only time will tell whether authorities will ask for the complete shutdown of the online casino or leave it running under different management. It all depends on the local gambling laws and the nationality of the new gambling firm that will run the casino venue. At times, foreign firms enjoy favorable terms – and at other times they don’t.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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