| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Mohawks to Enter Online Gambling Industry
- Monday, 12 Jun 2006
The Mohawks of the Kahnawake First Nation Enclave in the Quebec province of Canada are reportedly involving themselves in the online gambling industry. According to gambling analysts, the Kahnawake Economic Development Commission is in the process of finalizing an agreement that would give the Mohawks a 40 percent stake in an Isle of Man company looking to issue shares on London’s Alternative Investment Market. The Commission is the owner of Mohawk Internet Technologies, whose technology has helped to make Kahnawake one of the world's most popular gambling jurisdictions.
The group is reportedly in talks with Continent 8 Technologies PLC, to offer the use of its servers to international gambling customers. Michael Tobin, Continent 8’s chief executive, has said that if the deal goes through, the Mohawks will be part of an international publicly traded gambling company. Similarly, Mohawk grand chief Michael Delisle is in favor of the IPO, saying that the idea of an international gambling firm represents an important economic development opportunity for the community.
While the news has been met with interest in the online gambling world, several analysts have questioned how the deal may be affected by ongoing legality issues. Would the Mohawk community be permitted to invest in a venture that constitutes online casino gambling – a grey area in U.S. federal law? It appears the deal may go ahead regardless.
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