Ascot Sports Pulling Out?

May 14, 2008

It seems that Tan Sri Vincent Tan has decided that the online gambling industry may not be for him. He has reportedly pulled out of the online gambling business, shutting down operations at his Isle of Man licensed online casino AscotSports.com. The system is reporting “down for system maintenance,” but industry insiders say that it is closed down.

Tan is a noteworthy Malaysian business tycoon, and it came as no surprise to many that he might be leaving the online gambling industry. The online casino came to be in 2003 – then lost its license three years later when a new national leadership came to power.

Staff in the online casino’s office was allegedly told Friday morning of the closure and that it was effective immediately. Supposedly Tan has paid for the site 25 years in advance, which is why he took on the online casino site.

The site was launched a few months before the Fifa World Cup 2006 Tournament, and many thought that this was the perfect opportunity for Tan to show the world what they had to offer. They had set up call centers, with one in Philippines and then they grew from there. They had introduced a four digit lottery product online as well.

Last year they launched Ascot e-Casino, which was geared toward Chinese speaking individuals residing in Asia. However, all of their online gambling sites now appear to be closed, including the online casino.

 

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