FINANCIAL SERVICES REGULATORY COMMISSION
Division of Gaming

NOTICE

All Licensed Interactive Gaming and
Interactive Wagering CORPORATIONS

 

October 17, 2006

The Financial Services Regulatory Commission, Division of Gaming wish to strongly advise in principle and in accordance with Interactive Gaming and Interactive Wagering Regulation 123 and its subsections, owners of accounts must have access to account balances at all times.   Therefore, if a player is requesting to withdraw the balance on their account we expect Licensees to honour such request in an expeditious manner.

We are mindful that the passing of the “Unlawful Internet Gambling Enforcement Act of 2006” is having an adverse material impact on your operations.  As a result, we recognize that Licensees are diligently working to achieve the most suitable business alternatives.  However, we reiterate and caution that the Commission expects your business alternatives and/or decisions be formulated in a comprehensive manner, taking into account your legal and regulatory obligations under the Laws of Antigua and Barbuda and the underlying risks involved.    

The Commission must be advised forthwith if any temporary actions will result in contravention of the International Business Corporations Act and/or the Interactive Gaming and Interactive Wagering Regulations.  

The Commission is monitoring this matter assiduously. However, we trust any pending matters regarding the above are resolved in the spirit of our regulations.

Please be guided accordingly.