La Nacion Article

CasinoNow · Mar 12, 2003

I was reading another message board (bet2gamble.com) and someone made a bombshell post about an article in today's (Mar 12) edition of La Nacion. Apparently, two high ranking government officials stated there is an active plan to ban gambling in the country. Apparently, they want all of you gringos out of their country. Could be that this is why Nasa was scouting around for other spots. Maybe they knew a month ago what the rest of us are just learning.

Anyway, the post said the article was over here at the Rx, but I couldn't find it. Did any of you see it? If so, can you give me the Rx URL for the story, or more preferred - the URL to the original story on La Nacion?

Jerry Garner
caracol@caracolconsulting.com

Ryder · Mar 12, 2003

www.nacion.com may 12

Ryder · Mar 12, 2003

actually http://www.nacion.com/ln_ee/2003/marzo/12/pais1.html

CasinoNow · Mar 12, 2003

Thanks Ryder. I wouldn't have found it without you. I kept looking around at lanacion.com LOL.

Actually, I couldn't figure out how to get to articles from the 12th, but this was listed from the 13th:

http://www.nacion.com/ln_ee/2003/marzo/13/pais4.html

If I read this correctly (my spanish is a bit weak), it appears that they aren't outlawing betting establishments, but that there was one that was taking action from within Costa Rica, which is obviously not allowed.

Is this how you understood it as well, or was there really a bombshell dropped yesterday?

Ryder · Mar 12, 2003

Basically YES, basically they drop the MOAB on us, there are even names printed

Ryder · Mar 12, 2003

the thing before no one knew who´s juridiction it was, so no one did shit (nice), now el Ministerio de Gobernación was told "it´s your problem" so el ministro said he will make a unit just for it, check on sportbooks

Ryder · Mar 12, 2003

by the way there´s an english version of La Nacion coming on thursdays, so, if we are still here you may want to check it, its a weekly summary.

According to la nacion there were 11 sportbooks involve (the big ones) they are at risk to be close, anyway it looks bad to everyone

CasinoNow · Mar 14, 2003

Yes, that's what I was reading online. Fidelity, NASA and CRIS are the ones I remember off hand. I'm assuming that means MVP is probably in there as well?

Interesting thing, I was reading the March 12 article that you posted, and it has a quote from my attorney. Carlos Echeverria-Alfaro. I've used him and his sister Alejandra for 3+ years now, and find them to be very good people.

CasinoNow · Mar 14, 2003

I am also constantly hearing about all of the pressure being applied from the US. Actually, I can see it. I don't even have a company that takes wagers - just does marketing and consulting, and my activities and accounts are under constant review - whereas it was always a situation of do what I want and it goes unchecked when I first started. I'm moving into other jurisdictions with any new projects that launch, but will keep everything I have in CR there for as long as I can. The country and people there have always been good to me, and I don't want to bail on them prematurely.

But then, I'm a very small fish, compared to even the small bookmakers, so I don't have anywhere near as much to lose.

AdamSelene · Mar 14, 2003

Seems that these articles are just in reaction to the failure of Vinir Financial Services (who was allegedly processing payments for books); not about any general crackdown on sportsbook themselves (not that that won't happen).

Regarding Financial Services, the government is completely inept at regulating anything, and just makes noise after the shit hits the fan (e.g. The Brothers and The Cuban).

CasinoNow · Mar 14, 2003

These things are bound to happen with a government that takes no true position on the issue of regulation. If your position is going to be to consider them standard offshore businesses without regulating or having a system of checks and balances, then it is unrealistic for them to expect issues like this to not happen.

Personally, in this day and age, I wouldn't license anywhere unless I could get into the UK markets. Unfortunately, those markets just aren't an option for you guys.

On that note, I would probably opt to go to Kahnawakee. Their legislation isn't as strong as what has been presented in the Isle of Man or Gibralter, but it is very clear on how regulatory policy issues are handled, whereas CR isn't really very clear on anything. And, with a $10k licensing fee, it is still affordable to most everyone doing business, even the small fish.