Aussie Online Casino ClosesPublished October 22, 2008
Lasseters, the only Australian online casino website has gone to the wall following the fallout from the US Unlawful Internet Gambling Enforcement Act (UIGEA).
The Australian Lasseters Corporation Ltd. has closed its Australian online casino operation Lasseters.com.au.
With immediate effect, Australia's Lasseter Corporation, has shut down its Australian online casino. This decision followed the earlier closure of its Las Vegas site following business fallout after the UIGEA action by the US government in 2006.
The Australian casino closed its doors at the start of September 2008 following the suspension of shares in the parent company. While some possibility of the company re-opening the Australian enterprise, the chances seem slim. Since the UIGEA announcement in 2006, the Lassiter's board has continued to support the Australian online casino, but mounting losses have resulted in the termination of further cash injections.
Both the US and Australian casinos posted heavy losses for the past two years and were clearly unable to maintain profitability in the face of stiff international competition.
Lasseter's decision will affect both its Australian casino and sports betting websites.