Gambling Executives Resign
28 Sep 2006
James Grossman, the CEO of the gambling group online - World Gaming - has formerly resigned due to the increasing regulatory pressure being exerted on the online gambling industry and its directors in the US. A second non-executive director of the gambling group also resigned for similar reasons.
The gambling group has very close links to its main rival, Sporting Bet, which is currently in talks to acquire the gambling company. CEO of Sporting Bet, Peter Dicks, was arrested this month in the US over his gambling company's possible breaches of Louisiana morality laws. He completely denies any wrongdoing and has been released on bail. It seems that the arrest and detainment of gambling executives is becoming a new trend in the US causing more and more company heads to resign from their prominent positions.
World Gaming, run by former Sporting Bet staff Daniel Moran and David Naismith, provides hosting, payment and other services to Sporting Bet and its gambling fans worldwide. In December, the company acquired Sports Betting, a bookmaking, poker and gambling casino website earning 98 percent of its revenues in the US. As always, the misfortune of one gambling company online becomes the assets of other gambling companies competing over the same online casino players. As with all industries, the competition exists, and when one gambling giant falls, the other smaller members are there to pick up the pieces and add them to their own enterprises.
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