Representative Barton’s proposal has the backing of Reps.

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Deja vu, because McDermott was the man behind previous online gambling tax proposals launched to back up Frank’s earlier federal attempts to regulate and licence online gambling in the United States.

The objective apparently remains the same with McDermott’s latest offering; Frank and Campbell spearhead a renewed bipartisan attempt at legalisation due in the current session of Congress, and this will need a supporting tax bill.

McDermott’s latest sally requires online gambling establishments to withhold taxes from net online winnings, and provide detailed information about gamblers to the government to ensure the collection of the appropriate taxes.

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354 entrants started on the first day of the event, including many experienced and respected top players, but by day three the field was down to just 12 survivors, among them the only bracelet winner left in the field, Matt Matros, and internet poker ace Richard “nutsinho” Lyndaker – both of whom were bundled out before reaching the final table.

Event 18: $1,500 No-Limit Hold’em also saw the award of a bracelet Tuesday when 25-year-old Foster Hay prevailed in a thriller of a heads up against Casey Kelton. The

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In an editorial this week, the Washington Post is critical of independent councillor Michael A.

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Phil Ivey hasn’t played a single hand at the 2011 WSOP yet has managed to become the center of attention, announcing during the first day of play on May 31st that he was not only sitting out the entire 2011 WSOP but was suing online poker site Full Tilt for $150 million. Ivey first revealed the bombshell news via a series of messages on his Facebook page, which led many to believe at first it was a hack or a hoax; confirmation came a few hours later that it was indeed the real deal, with the details of Ivey’s lawsuit made available the next day in court filings.

While Ivey claimed in his Facebook statement that he felt it was unfair for him to play in the WSOP while US players were still waiting for their funds to be returned by Full Tilt, his lawsuit largely deals with Ivey’s personal claims against Full Tilt.

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Italian market Average Revenue Per User (ARPU) is one of the highest worldwide, the research firm reports, with client expenditure averaging around €1,000/ year.

The study found that slot machines are the most profitable Italian product, with around 49% of overall turnover, with lotteries next in popularity.

In the online sector, turnover is expected to reach €4.7 billion – up 25% on the previous year in terms of margin for operators, with internet poker likely to generate growing revenues through 2011 and interactive sector revenues generally growing to around €7.5 billion by 2013.

The Italian study includes deep analysis in terms of products (VLTs, Betting, Poker, Lotteries, Bingo, Skill Games), channels (offline, online, mobile), regulatory environment, main competitors, market trends (yields, customers, etc), customer targets, business models and entering strategies.

Significant events during the quarter include:

• The acquisition by subsidiary Redbet Gaming Ltd of i4poker which will strengthen its position in Poland, Hungary and Bulgaria and DoubleCardrooms focused on the Scandinavian market.

• The merging of Redbet Holding AB and Redbet Technology Corporation will result in cost savings and a more streamlined organisation.

Looking forward, Whitebet, part of the Ongame Network has launched and now offers sports betting and a new online casino.

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Clearly the product of considerable research by three or more business journalists, the piece covers the initial founding of the enterprise between 2000-2002 by four frat brothers from the University of Montana – Scott Tom and Garin Gustafson were allegedly the poker experts; whilst Shane Blackford and Oscar Hilt Tatum IV had family money and contacts.

The appeal of the growing online poker phenomenon, along with the contacts available to the founders, enabled them to raise millions in initial capital for the venture.

The authors trace the development of the company through records and interviews with investors, most of them apparently unhappy with the lack of returns occasioned by legal difficulties and flawed business decisions that bedeviled the sites.

“The (Absolute Poker) site, one of the first of its kind, grew like wildfire.

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Key performance indicators included:

• Group revenue US$75 million (Q1,2010: US$69 million), an increase of 9% year-on-year and a 6% increase compared to Q4,2010

• Revenue B2C US$64 million (Q1,2010: US$59 million), an increase of 9% year-on-year and a 7% increase compared to Q4,2010, boosted by growth in all product lines, especially Casino and Poker operations.

• Revenue B2B US$11 million (Q1,2010: US$10 million), an increase of 5% year-on-year and a 3% decline compared to Q4,2010

• Number of active customers B2C Casino and Poker at 302,000, a 39% increase compared to Q1,2010 driven by successful new customer recruitment and marketing initiatives

• As at 31 March 2011, 888 had 9.2 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 21% since 31 March 2010

First quarter 2011 results included:

• Strong current trading continues

• Revenue US$75 million (Q1,2010: US$69 million), an increase of 9%

• Revenue B2C at US$64 million (Q1,2010: US$59 million), an increase of 9%

• Revenue B2C Casino at US$33 million (Q1,2010: US$33 million), an increase of 2%

• Revenue B2C Poker at US$11 million (Q1,2010: US$12 million), a decrease of 2% and an increase of 7% compared to Q4,2010

• Revenue B2C Bingo at US$14 million (Q1,2010: US$11 million), an increase of 31%

• Revenue B2C Emerging Offering at US$5 million (Q1,2010: US$4 million), an increase of 53%

• Number of active customers B2C Casino at 129,000, an increase of 68% compared to Q1,2010

• Number of active customers B2C Poker at 221,000, an increase of 32% compared to Q1,2010

• Quarterly revenue B2C per active Casino and Poker customer was US$148, a 27% decrease compared to Q1,2010 and stable compared to Q4,2010

• Quarterly revenue B2C per active Casino customer was US$258, a 39% decrease compared to Q1,2010 and 3% increase compared to Q4,2010

• Quarterly revenue B2C per active Poker customer was US$51, a 26% decrease compared to Q1,2010 and 3% compared to Q4,2010

In B2B operations, the company reported :

• Revenue B2B at US$11 million (Q1,2010: US$10 million), an increase of 5%.

• As at 31 March 2011 the Group had US$59 million of cash and cash equivalents.

Chief executive Gigi Levy, who announced his impending departure from the group earlier this week commented: “The excellent figures reported today and the ongoing strength in current trading indicate the company is growing and is on the right track towards further success.

“I feel now is the right time to stand down, leaving the company stable and growing.

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The company stresses that it has not acquired the MarketZero company but rather the team of staff that focuses on user experience and security in the online poker arena.

“This acquisition leverages the knowledge and expertise of the team. T

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