24HPOKER CLARIFIES ITS OPERATIONAL STRUCTURE

Answering Swedish Gaming Board questions

2007-09-28

Answering Swedish Gaming Board questions

24hPoker is in the process of clarifying its operational structure following questions raised by the Swedish Gaming Board on the extent of its operations within Swedish borders (see previous InfoPowa reports)

The Malta-licensed poker company has fully cooperated with the Swedish gaming authorities, who have sent questionnaires authorised by Swedish regulations to a number of companies in an effort to establish the extent of their activities in the country

In a statement this week, 24hPoker said it believes the Board may have been confused by the complicated nature of its structure.

Company spokesperson Pia Rosin said it appeared that there may be some confusion over what parts of the operation were in Malta and what parts were in Sweden, due to a similarity in company titles, commenting: “We believe that the actual problem is that our Maltese gaming operation and the Swedish supplier operation have the same name. We have decided to change the name of our Swedish operations to better reflect our business in Sweden to avoid further confusion.”

Rosin revealed that 24hPoker operations in Sweden included software development, group management, group accounting functions and other corporate structure elements. “All the actual gaming operations are in Malta, and our customer support is in Estonia,” she added.

“As far as we know at this present moment in time, the gaming board in Sweden has accepted this. They have asked us a few more questions, and we have replied.”

The ball is now in the Gaming Board's court as far as 24hPoker is concerned.

“We are expecting either they will give us the all clear, or maybe they will come back with more questions. However, we are confident that all our operations are compliant with both Swedish, Maltese and European law,” Rosin concluded.

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