|Australian businessman Robert Waterhouse, who has been kept away from racetracks for 17 years following the Fine Cotton scandal, is launching an online casino through his company WaterhouseBet.|
Waterhouse and his father, who were found to have known about the Fine Cotton horse swap back in 1984, are teaming up with International Data Processing Ltd, a company that also boasts a colorful past.
IDPL, which is in charge of Internet casino and betting assets in Vanuatu, enjoyed a substantial turnover at their online casino in 2000 between April and mid-July. Unfortunately it has become known that a large number of deposits made to the casino in this time were fraudulently based on stolen credit card numbers.
The casino subsequently suffered major losses, which resulted in IDPLís major shareholder (My Casino) selling IDPL to WaterhouseBet. IDPL still hold a gaming license and their computer equipment despite the closure of the online casino.
WaterhouseBet and IDPL are hoping to have their site up and running by December, focusing on a predominantly Asian market. They will face stiff competition from Kerry Packer, who also plans to launch a pacific-based online casino targeting the same market.