7 - 13 June 2001

Australian betting company may relocate to Malta

by David Kelleher

An Australian betting company has been granted an international betting licence by the Maltese government and is seriously considering a move to Malta. International All Sports Ltd may relocate to Malta after legislation passed by the Australian Federal Government last December came into effect this month.
On 7 December 2000, the Australian Federal Government voted to impose a 12-month ban on Internet gaming. The Darwin-based betting firm said that it may relocate to Malta following the proposal to ban online gaming. Indeed, in a report to shareholders, the company’s executive chairman and managing director, Mark Read, said the company had been granted an international wagering licence by the Maltese government.
Mr Read says that while the company’s Australian clientele will lose out, setting up shop in Malta will allow International All Sports to continue operating, plus it will afford access to the lucrative European market.
Last month, Mr Reid branded the Interactive Gambling 2001 legislation introduced into the Senate as an outrageous misrepresentation of the Internet wagering and sports betting industry in Australia. He charged: “In today’s high-tech society wagerers maintain extensive databases and, in many cases, do an even more comprehensive study than analysts who choose the financial markets as their medium of choice. Yet it’s okay under this legislation to invest on the stock exchange online. Wagering on horse-racing and sporting events is no different to investing on futures shares on the stock exchange.”