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A Gaming Commission by any other name.

Can’t pass the smell test.  The one out on an island off Britain reminds me of an old movie about a similar little island.  It was a “tight little island” and that was because a ship sunk and all this booze washed up on the shore..  That was a comedy but Alderney is no joke.That Full Tilt’s licensing body.  They hired a hot shot from London to clear them.  If Martin Luther read all this he would realize the selling of indulgences is still going on to and from government bodies.  Read the one Peter Dean crafted (has to be related to John) to vet the fine folks on Alderney with the hope some shyster outfit will still drop by and shower them with gelt  licensing fees.

I’ll quote Peter’s executive summary.  If you want a briefer one, here is mine:  Come to Alderney where we’ll do anything for money.   We were fools for trusting any of these offshore gaming commissions and locations.  We are bigger fools to play on any site that’s rairaison d’être is getting paid by the site they are licensing.

“Deplorable as the episode covered in this review has been, it is nevertheless an example of regulation working as it should. As soon as plausible evidence of irregularities came to light the regulator acted promptly and proportionately. An investigation was instituted, findings made, a hearing held, judgment delivered and sanctions imposed. Due process was followed.

“This assessment will be of little comfort to the disaffected players who are still denied access to funds owed to them by FTP. The tribunal proceedings in 2011 were adjourned for several weeks to allow time for a rescue package to be negotiated.

“When this failed, the Commissioners then properly decided that because of the seriousness of the allegations they should discharge their statutory duties without further delay.

“The AGCC Commissioners, Executive Director and senior staff are clearly determined to make improvements as a result of lessons learned from this episode. I hope my review will help in the process.

“My opinion overall is that AGCC fulfilled its statutory obligations in relation to FTP and that its actions were appropriate, timely and fair.

Not unsurprisingly AGCC executive director André Wilsenach said he was pleased with the findings of the report, “We note that today’s report finds that ‘AGCC fulfilled its statutory obligations in relation to FTP and that its actions were appropriate, timely and fair.’

“That is the standard to which we aspire.

“Nonetheless, Mr Dean’s report does make valuable recommendations on how we can make improvements in the light of what has happened. We accept those proposals and will seek to implement them as soon as practically possible.

“None of this, of course, will compensate those players who have lost money as a result of FTPs actions, and we have great sympathy for them. But, as the report confirms, a regulatory regime cannot be proof against deliberate concealment or deception.”

Some of the more interesting points the report throws up is that Alderney had difficulty getting ownership information from Full Tilt and its associated companies led by Ray Bitar. The method it eventually allowed Full Tilt to use to satisfy this demand “was less than ideal.”

The report says that, “Throughout its dealings with FTP, AGCC relied to a significant extent on FTP’s external lawyers as a channel of communication. They played a prominent role in the arrangements for satisfying AGCC about the credentials of the owners of associated companies… ” — Commission Report

ADDENDUM:

I guess I played my last hand on UB.  They turned off the funny money games.

  1. May 9th, 2012 at 14:37 | #1

    “I played my last hand on UB.  They turned off the funny money games.”

    I liked it at the time, but now it’s no big loss. 

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