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New Online Casino Development Drops to Lowest Levels
LONDON --
Figures released today confirmed analyst projections - new online casino development in the 3rd quarter dropped to the lowest-levels in over a decade. The decrease in new internet gambling operations is evidence the credit-crunch has impacted offshore betting operations.
The number of new online casinos in the 3rd quarter of 2008 fell %42.8 percent, the biggest drop since the expansion of online gaming in 2001.
"Online casinos are very cautious about putting new software on the market now,'' says Lee Rockwell, Chief Editor of Online Casino Sphere and long-time industry analyst.
"The worldwide stock-market slump is of course the major reason. They are also worried because of the lack of new players. People are just not able to spend their money at these gaming sites right now'', he went on to say.
As you know, the largest group of investors in the online casino market is Europe and Asia, along with some smaller Caribbean Islands and Central American nations.
As new sites hesitate to come online, others are closing their doors completely. We should note, however, long-standing and reputable casinos such as Rushmore and All Jackpots continue to thrive, despite a lackluster world economy that is heading for recession by 2009.
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