Industry News
Bodog.com Relocates to Antigua, Raises Stakes
Calvin Ayre and company have finalized the move to Antigua. Bodog.com purchased Antigua-based BetCorp PLC's in November 2006, and in just a few months has relocated the leading online gambling firm from Costa Rica.
Others may follow, but Antigua is looking to make itself the top offshore gaming jurisdiction in the world, and is likely to be quite strict when licensing newcomers.
The Antiguan Director of Gaming Kaye McDonald said the jurisdiction will be focusing on proper control of the Internet gambling industry.
?For us in the division of gaming, it?s not about having a multitude of licensees in the jurisdiction," said McDonald. "We?re looking for premium operators so, therefore, you may see that there might be a downward trend, because as we try to ensure that we have operators that will operate within our laws and regulations and best practices and good corporate governance, we certainly would take remedial action."
The online gambling dispute with the U.S. has cost the government of Antigua & Barbuda millions of dollars acknowledged Minister of Finance and the Economy Dr. Errol Cort. The industry current employs fewer than 600 but once employed more than 1,000 workers.
Bodog.com is a multi-media entertainment enterprise, with music and TV as well as online gambling and payment processing. The digital empire is going to have a significant economic impact to the island both in and outside of the gaming sector.
So that other firms can prosper there, the government of Antigua & Barbuda is moving to bring the country into compliance with U.K. criteria so that it can be recognized as a European Economic Area. McDonald said this was important as operators seek to diversify into the European market.
"With only a four hour time difference to the U.K. its a great place to run our customer service as we execute on our current business plan of increasing our European business in 2007," said Ayre. "Banks will easily open accounts for you, the government is your friend and its beautiful and safe with essentially no crime. Telecom has been recently deregulated giving you more choices than just Cable and Wireless and at reduced rates and the local level of technical sophistication is first world level. Why would anyone operate anywhere else?"
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