Home  |  Online Casino Reviews  |  Casino Bonus Money  |  Best Online Casinos  |  Free Casino Games  |  Send Complaint


Popular Pages

UK Casinos UK Online Casino
Euro Casino Euro
Slots
Poker
Blackjack
Roulette
Craps
Bingo

 

Online Casino News - October, 2008

Lasseters Online Casino Closes its Doors

 

 

  Seed Newsvine

by Devon Chappell, News Staff Writer

October 4, 2008

One of the first online casinos to take bets on the Web, Lasseters Online, is closing its doors. Following an announcement by the Lasseters Corporation that a last call for wagers at its famous online casino has been made, the final chapter to a story which some people said they saw coming, has come to an end.

While the passing of the Unlawful Online Gambling Enforcement Act certainly played a part in causing hardship for Lasseters, ultimately, it was likely a lack of proper oversight, management and overall vision for the online businesses. Many other online casinos who drew the bulk of their traffic from U.S. players, and have - post UIGEA - ceased taking U.S. bets, are doing fine for themselves, albeit financial losses were initially incurred. Those companies who especially made concentrated efforts to diversify business operations in countries throughout Europe are doing quite well.

Lasseters, however, apparently did not have all their cards played right. It took a $15.5 million loss in revenue last year, and an unwillingness to inject more funds for a bailout from their parent company, Lasseters International, for online business operations to come to terms with its bleak future. As a spokesperson for Lasseters said, "numerous constraints" and major financial losses are keeping Lasseters Online Casino from "remaining competitive". Following the completion of an auditor review, Lasseters Board determined it was highly unlikely to turn things around.

Lasseters' sports betting site, however, is a completely different story. That sector of online operations has been pardoned, and left online to continue taking bets on all manner of sporting events. One likely reason is because there are fewer constraints on the sports betting sector, which is precisely why Lasseters Online Casino could come back around at a later time if and when the UIGEA gets overturned or there simply are fewer restrictions as a whole on the online casino gambling sector.



Back to CASINO NEWS

 

Free Newsletter
Over 1,000 Subscribers and growing daily.
Name:
Email:
 

Featured Casino
Golden Casino is offering a generous $555 welcome bonus on your first deposit.
Slots
Online slots casinos are now innovative and high-tech, from penny slots to high stakes progressives.
Bingo
We offer a wide variety of BINGO options, including software downloads and online flash games.
Poker
Onlinecasinosuite.com online casino directory provides an extensive directory of poker card gaming.
Video Poker
Online poker casinos offer the excitement of live gaming "in real time with real people" as well as private gaming.

Copyright � 2009 World Gambling Review | Online Casino Suite