Lasseters hits the jackpot
Australia's only internet casino has recorded an explosive growth in profits, reinforcing the country's initiative to provide a full regulated and legalised model to support interactive gambling .
Lasseters Online, a subsidiary of the privately-owned Lasseters Casino-Hotel at Alice Springs, has reported a turnover of $13.5 million in bets over the past six months.
Player registrations grew by a monthly average of 94%, and in September alone, the site drew one million visitors from 154 nations, who wagered more than $4.3 million.
To put these numbers in perspective, in the short six months since the site was launched November 10, this revenue represents 37% of the company's earnings. The remainder is derived from its land-based casino in the Northern Territory.
"We are really the only legal online casino in the world," said Mr Peter Bridge, the CEO of Lasseters. "The only one with a physical presence and the only one regulated by government. This has given us the advantage of credibility over other operations."
"The revenue generated online already exceeds the returns from the table games at our Alice Springs casino."
After initially investing $5 million in the development of Lasseters Online, the company has brought forward a further $3 million system upgrade of the site. Mr Bridge said that regular upgrades would always be required in order to keep at the forefront of technology.
"This is particularly important because it will increase our ability to handle the continued rapid growth in player numbers and transactions, while also refining the site's performance for existing players."
Lasseters are boosting state coffers in a deal struck with the NT Government where they pay an 8 per cent win tax on every transaction, regardless of the player's location.
Due to the uncertainty of a national co-operative approach with regard to taxation and revenue-sharing, Lasseters does not accept bets from Australians outside certain areas within the Northern Territory.
This raises another issue - the current dilemma regarding a national approach or independent state-by-state model.
In terms of other Australian jurisdictions, the States and Territories are divided over their approach towards online gambling. The ACT, Queensland, Tasmania and Victoria have passed legislation to allow online gambling and are proceeding full steam ahead.
Tattersall's, for instance, Australia's oldest gaming and lottery group and one of the nation's top privately-owned companies in terms of revenue, has applied for an interactive licence in the ACT (which covers casino games), and recently introduced an internet link to global sports-betting agency Canbet, based in Canberra.
Meanwhile, NSW has no plans to allow it, and in WA it is illegal to gamble online, with a maximum fine of $500.
In the WA instance, firstly it is difficult to police. Secondly, should the Government sit by and watch potential revenue flow interstate and overseas? Thirdly, if this is the current state, why is Burswood preparing to go online? [see side-bar].

SIDE-BAR
Burswood moves towards cyberspace
Western Australia's sole casino, the Burswood hotel-resort casino, is developing casino games to enhance its current web site, in preparation for possible changes to the state's prohibition on internet gambling.
The games will purely be initiated as learning tools, as the measurement of the play-site hits can provide usage information to the WA Government in the event that it follows suit with other Australian jurisdictions and considers an Interactive Gambling Bill.
Even though WA has no plans to legalise online betting, Burswood is determined to be prepared, and expects to have their play site available by April next year.
Meanwhile, the $75 million expansion of the convention center and other facilities is expected to commence in January, following its $20 million hotel refurbishment which is still in the process of being completed.

SIDE BAR
Online gambler wins case against credit card companies
A Calfornian woman has successfully saved herself from US$70,000 in internet gambling debts accrued while playing games at offshore virtual casinos in 1997 and 1998.
Ms Cynthia Haines sued Visa International, Mastercard International and 50 online gambling operators for unfair business practices, accusing the credit card companies of granting merchant accounts to illegal internet casinos.
The settlement means that Visa agreed to forgive the debt from Ms Haines, and instead will collect payment from the cyberspace sites.

Tas gaming reaches $1.5 billion
Tasmania's 1331 gaming machines in pubs and clubs now turn over $351 million, a whopping 70% increase of the past year.
And this number is set to double by 2002,
Gambling is now the state's fastest growing industry, with overall turnover rising 14% or $190 million to reach $1.5 billion, according to the Tasmanian Gaming Commission's annual report.
Seventy-five gaming machines were introduced to pubs and clubs during the year, and in July 1, 2002 venues will have their limits increased.
The 1042 machines in the two casinos turned over $933 million, and Wrest Point Casino was fined $20,000 for allowing gaming machines to operate while malfunctioning, resulting in loss of revenue to both the casino and the Government.