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Australian Online Casino Group Publishes New Plan

Online casino firms are starting to react to the new Unlawful Internet Gambling Enforcement Act, and the Australian online casino group has made its future plans public this week. The online gambling operator has published a statement saying that changes will be made, but there was no elaboration about the issue. Now, the online casino group decided to share its new global expansion plan with the rest of the community, and further details are available. The online casino group will focus on foreign markets, and will issue a large scale restructuring process inside the company.

James Canning-Ure, Managing Director, said that 50 percent of all net revenues for the online casino firm originate from that U.S. market. Therefore, the first change will be a drastic change in focus. The online casino group’s plan means shifting the center of attention towards the Asian and the European markets, instead of keeping their aim at the United States shaky internet gambling one. Earlier this year, the online casino group launched a Japanese-oriented online gambling site, as a part of their already existing approach of expanding their business to foreign markets.

A side from shifting the online casino group’s attention towards foreign markets, there is also a restructure planned. The online casino operator is planning a significant cut in Directors and high management salaries, as a precautionary step. The changes in the online casino industry are hard to predict, and although Global Approach seems to be on the right track, no one can really predict the outcome of the new United States internet gambling law.

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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