From Chicago Business Language on a long-expected proposal to bring widespread Internet gambling to Illinois finally has surfaced in Springfield, and by all indications the plan will be both highly lucrative and highly controversial. The language was circulated late Tuesday, according to my source, by aides to Senate President John Cullerton, who long has said he wants to legalize online gambling because of the potential payoff in state revenue but has separated the issue from the proposed expansion of casino gambling. Mr. Cullerton’s office didn’t officially confirm that something is coming. But his spokesman promised “details to come” — and…

From iGaming Business Activity and gross gaming revenues in France’s online gaming and betting market have switched around dramatically in the past few months, Jean-Francois Vilotte, president of the French regulatory authority ARJEL, has revealed in an interview with the French newspaper Les Echos. Vilotte explained that the market’s structure had changed substantially, with gross profits for online poker cash games down 14% to €61.2m for the 12-month period to May and tournament fees stable at €41m. Gross gaming revenues for online sports betting of €63.4m meant a rise of 20% on 2012 figures. Football played a large part in…

From Press of Atlantic City A former gambling regulator from Malta regarded as an expert in online gambling development has been selected to help New Jersey implement Internet wagering by the end of the year. The announcement, made by New Jersey Division of Gaming Enforcement Director David Rebuck at the East Coast Gaming Congress on Wednesday, came during a day of speakers who focused heavily on the impact Internet gambling could have on the state and Atlantic City’s casinos. A panel of Wall Street experts touted online gambling as the development that could finally turn around the Atlantic City market’s…

From Pokerati A news report from The Register this past Monday suggested that Canadian anti-money laundering and financial crimes regulations and disclosures will not apply to bitcoin exchanges in Canada. This was based on letters apparently received by some exchanges from the Financial Transactions and Reports Analysis Centre of Canada (FinTRAC). I have not seen the letters, but today I confirmed this position with a spokesperson for the FinTRAC. This posture presents an exciting opportunity for bitcoin exchanges that the Financial Crimes Enforcement Network (FinCEN) recently confirmed are subject to registration, monitoring, and reporting as money services businesses and money transmitters in…

From Wall Street Journal Online casino gambling has become a potentially big player in the U.S., with three states passing—and others considering—laws allowing some form of it. The only problem: how should regulators deal with firms that have come under scrutiny or operate in so-called gray markets? 888 Holdings Based in Gibraltar but owned in large part by its Israeli founders, 888 has big ambitions in the U.S. with partnership deals already with casino companies and a slot machines maker. With backing from investment firm Avenue Capital Group, it plans to spend more than $100 million to market its own…

The folks who write the checks that help keep Atlantic City’s casinos afloat say internet gambling can help revive the market’s flagging fortunes. Speaking at The East Coast Gaming Congress Wednesday, a panel of Wall Street analysts said the investment community views Internet gambling as a way to finally end the city’s seven-year losing streak. The state plans to offer online bets by the end of the year. “I’m probably one of the more bullish people on this,” said David Berman, senior managing director of Macquarie Capital. “It’s a big boon for Atlantic City and New Jersey.” Internet gambling will…