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Internet gambling could solve fiscal deficit

ATIG donates license in a bid to open US market

Wednesday 30th June 2004

Atlantis Internet Group, the Internet gaming software company has offered to donate a license to use its online casino management software, free of charge, for one year to any state that passes an Internet Gaming bill.

Casinos may pay anywhere from approximately US$250,000 to US$500,000 per year for a comparable license, and if a state charged only 10 to 15 percent of the gross wins of the Internet casino operations they could generate potentially more than US$600 million dollars a year. For the first year following adoption of the proposed legislation, ATIG will make its software available to the applicable states without charge.

Such legislation could be designed, potentially, to allow any state that is home to casino owners holding a current US gaming license, to offer Internet Gaming from that state to international customers only.

States that pass the legislation could then generate revenue from the untapped offshore Internet gaming industry, estimated to be worth US$6 billion, while creating virtually no negative impact to residents within the United States or breaking any current state or federal laws. With almost every one of the 50 states within the US facing their largest deficit since the great depression, this is a challenge to state and federal lawmakers to come up with real solutions to help solve the deficit problems of states across the country says ATIG President & CEO Donald L. Bailey.

‘This is a viable solution to many problems. Suddenly, states could ease their cash deficits without raising taxes on residents or requiring a license holder to already be licensed within the US. It creates no negative impact on state residents since, under this concept, casinos could only accept monetary wagers from international customers,’ says ATIG claims its software has the capability of filtering out wagers placed from within the US or other unauthorized locations and allows monitoring the activities of online casinos,’ he says.

Source: OnlineCasinoNews

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