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Most Recent Online Casino News
Atlantis Internet Group Announces Six Managed Virtual Reality Casinos
Atlantis Internet Group Corp., a publicly-traded Delaware corporation, announced
that its software licensing and management agreement with Atlantis
Gaming Corporation, a private affiliated company, will be able to
generate revenues for the company starting on June 15, 2004. Prior to
that date, the six web sites which Atlantis Gaming Corp. has operated as
Virtual Reality Casinos in Curacao, Netherlands Antilles, have only been
available as "play-for-fun". However, beginning on that date, Atlantis
Gaming Corp. will make these six websites available to persons who do
not reside in the territorial United States and may lawfully engage in
internet gambling to play paid games of chance on these Virtual Reality
Casinos.
Under a Software Licensing and Management Agreement which ATIG
previously entered into with Atlantis Gaming Corp, ATIG is entitled to
forty percent (40%) of the total gross winnings which are generated from
lawful users of the websites, Gross winnings is defined as the total
revenues generated from lawful users on the websites, less any amounts
paid out as winnings to such users.
According to ATIG President Donald Bailey, "We are very excited about
the fact that Atlantis Gaming is now ready to turn its 'play for fun'
operations into 'for pay' operations, and that our Virtual Reality
Casino software and support services will be proven again on these six
websites."
Bailey added that "Outside of the United States, the popularity of
legal internet gambling continues to grow, as evidenced by the number of
companies involved in these activities. We hope that the United States
will soon follow suit by reconciling its laws and regulations with those
in place outside of it, so that everyone will be able to enjoy internet
gambling equally. The efforts of the United States to ban internet
gambling activities within its territories was the focus of a recent
critical decision by the World Trade Organization. However, until US
policy changes in this regard, ATIG and Atlantis Gaming will continue to
require its processors, notably Net Teller, to screen out US residents
from being able to participate in any gambling activities on their
websites."
Read the
entire article at:
Business Wire
2004 Online Casino News Archive
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