|Chartwell Technology, a leading provider of gaming software systems to the online and remote gaming industry, has responded positively to the passage of legislation (the Gaming Bill) in the United Kingdom that will introduce regulated online gambling. |
‘This is an historic development for the online gaming sector,’ said Lee Richardson, Chief Executive, Chartwell Games Corp. ‘The United Kingdom is the first G-7 nation to establish a framework of regulation that provides industry standards aimed at providing a safe, secure and regulated environment for players.’
In anticipation of the UK regulatory changes, Chartwell has invested significantly in Europe with the opening of its Chartwell Games Head Office in London and the development of responsible gaming functionality and certification capabilities for it software systems. Chartwell’s team of professionals with extensive European experience in the online gaming industry remain focused on the further deployment of Chartwell’s gaming systems including Casino Games, Community Based Multi-Player Poker and Bingo Games, Mobile, Lottery, and Kiosk based solutions.
According to industry reports published by Informa Media Group and Merrill Lynch, electronic gambling revenues are expected to exceed $14 billion by the end of 2006 with Europe accounting for over $7.5 billion of the total. These figures do not reflect the impact that regulation could have on the industry nor does it take into account the potential for other nations to implement similar regulatory environments following the developments that have occurred in the UK.
Richardson added, ‘We also think that this important legislation, the Gaming Bill, expected to become operational in the UK during 2006, may provide the necessary impetus for similar regulatory advancements in other jurisdictions, including elsewhere in Europe.’