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WTO Rules U.S. Online Gambling Ban Violates Trade Agreements

Authored by Mark Hefflinger on April 7, 2005 - 3:28am.
Washington -- The World Trade Organization (WTO) has ruled that the U.S. ban on offshore online gambling violates international trade rules, siding with the island nations of Antigua and Barbuda who initially filed a complaint with the WTO, CNET News.com reported. It is illegal for U.S. residents to gamble online, either on U.S.-based websites or those offered overseas -- from the U.K. or tax havens such as Antigua. Although the ruling is specific to the nations that filed the complaint, the WTO may now choose to impose trade sanctions on the U.S. Additional fallout from the ruling could result once again in search engines taking ads from overseas casinos, and credit cards companies backing cardholders' online gambling accounts.
tags: Law | WTO | U.S. Online Gambling Ban | Trade Agreements |

Sony Sells 500,000 PSPs in First Two Days; $150 Million in First Week

Authored by Mark Hefflinger on April 7, 2005 - 3:25am.
Los Angeles -- Sony said on Thursday that it sold 500,000 of its PSP handheld video game systems in North America in the $249 device's first two days on sale. The company added that the PSP generated a total of $150 million in first-week sales. Some analysts and retailers reported that while the PSP was selling well at retailers, most were not sold out of the anticipated device, for which Sony delayed its European launch to ensure that 1 million units would be on the market for the North American release.
tags: Sony | PSP | Sells |

Report: U.S. Men Spend More on Video Games Than Music

Authored by Mark Hefflinger on April 7, 2005 - 3:23am.
Los Angeles -- U.S. males now spend more money on average purchasing video games than they do buying CDs, but still spend more on DVDs than all other forms of interactive entertainment, according to a random survey of 1,500 Americans conducted in early 2005 by Nielsen Entertainment. Nearly 40% of U.S. households own at least one device capable of playing games -- which includes a PC -- while among those who own a game console, 8% own all three: a PlayStation 2, Xbox and GameCube. While Caucasians spend the most money per month on DVDs, African-Americans and Hispanics report spending more money per month on games and mobile services. The report also found that 39% of gamers are female, and 24% of gamers are over the age of 40. "While this reinforces the industry's traditional targeting towards these groups, women between the ages of 18 to 24 show relatively high entertainment expenditure and time availability, suggesting there are opportunities for publishers to target this consumer," said Nielsen Interactive Entertainment vice president Emily Della Maggiora. "African-American and Hispanic gamers appear to be a potentially lucrative (and currently under-served) consumer target for publishers as these gamers are spending more money to purchase games and more time to play them compared to total gamers, in general."
tags: Music | Reports | Video Games | U.S. Men |

Eidos Board Approves SCi Buyout Offer Over Rival Bid from Elevation

Authored by Mark Hefflinger on April 7, 2005 - 3:20am.
London -- The board of directors of struggling U.K. video game publisher Eidos announced on Thursday that it has voted to accept a buyout offer from fellow U.K. publisher SCi Entertainment Group, rejecting a rival offer Elevation Partners, a venture capital firm whose principals include former Electronic Arts president John Riccitiello and U2 frontman Bono. About 41% of Eidos shareholders have already approved the SCi buyout, which will offer about $1.37 per Eidos share, as compared with Elevation's offer of $0.94 per share. About 41% of Eidos shareholders have already voiced their approval of the deal. Eidos said that it has recommended shareholders accept the SCi bid, despite the fact that Eidos is much larger than SCi, operating on a global scale, and may lose key employees as a result of the merger.
tags: SCI | Elevation | Eidos Board | Buyout Offer |

AOL Rolls Out Internet Phone Service in 40 Markets

Authored by Mark Hefflinger on April 7, 2005 - 3:18am.
Dulles, Va. -- Following months of industry speculation and build-up, America Online on Thursday launched its new Internet phone service in more than 40 U.S. markets, including the DC area. It is the first phase of a nationwide rollout that will continue over the coming months. AOL said the service will offer subscribers cost-savings over traditional phone services, as well as enhanced voice and online messaging features. The company is offering its current Internet members a special rate of $29.99 a month for the first six months of its combined Internet access and phone services, after which the price will jump to $39.99. The phone service includes unlimited local and long distance calling. The phone service also will be available without Internet access.
tags: AOL | Markets | Internet Phone |

Ener1 to Acquire Russian Video Game Maker Nival

Authored by Mark Hefflinger on April 7, 2005 - 3:16am.
Fort Lauderdale, Florida -- Ener1 Group, a U.S.-based technology holding company, announced that it has agreed to acquire Nival Interactive, a Moscow-based video game developer and currently the largest in Russia. Nival Interactive's creative studio includes 140 artists, designers and programmers. Ener1 said it planned to integrate the Russian developers with its U.S.-based video gaming interests to develop new console and wireless games. "This partnership provides both our companies with the optimal solution for accomplishing our mutual goals," said Nival President Sergey Orlovskiy. "Ener1 Group's resources and international presence will accelerate Nival's strategy for growth, developing exceptional and creative content for the interactive entertainment industry, exploring new distribution opportunities and attracting top talent in the global marketplace." The financial terms of the deal were not disclosed.
tags: Acquire | Ener1 | Russian Video Game Maker | Nival |