Australian expanding into the U.S. gambling market

Byixgames

Australian media and gaming company Publishing & Broadcasting Ltd. announced Tuesday it was expanding into the U.S. gambling market by paying US$250 million (€185 million) for 19.6 percent stake in U.S. casino developer Fontainebleau Resorts LLC.”This transaction provides PBL Gaming with a first class entrance into the U.S. casino resort market, in particular, the renowned Las Vegas Strip,” PBL Executive Chairman James Packer said in a statement. The transaction is expected to be completed next month. Fontainebleau announced Monday it is developing a US$2.8 billion (€2 billion) casino resort on the Las Vegas Strip, Nevada, expected to open in late 2009, and is also renovating its Fontainebleau Resort in Miami Beach, Florida.

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Britain criticizes U.S. on-line gambling ban

Byixgames

Britain’s culture secretary on Friday compared the U.S. crackdown on on-line gambling to the failed alcohol ban of the Prohibition as she prepared to host an international summit on Internet gambling next week.Tessa Jowell warned that the U.S. ban on Internet gambling would make unregulated offshore sites the modern equivalent of speakeasies, illegal bars that…