Feeds

Gambling impresario pushes fanciful Palestinian fund

$1bn for peace

3 Big data security analytics techniques

Online casino impresario Avi Shaked, founder of gambling website 888.com, has confirmed today in a wide ranging interview with the Jerusalem Post that he has proposed a $1bn private equity fund for economic investment in the occupied Palestinian territories.

Establishment of the fund would be conditioned on the Palestinian Authority reaching a peace agreement with Israel. So, we won't, er, hold our breath about this actually happening.

The fund would be released to the authority incrementally, with an initial $100m released for industrial investment.

Shaked explained: "Entrepreneurs will have to submit requests and proposals, as is done with any fund. At the final stage, when they actually sign a peace agreement, the rest of the money - $900,000,000 - will be invested."

The gambling kingpin has been active in the Israeli Labor party since the 1970’s, and even ran for a seat in the Israeli Knesset in the last elections. Shaked, a self-described “socialist at heart”, expressed optimistically that the practical benefits of business development - as opposed to “capitalism”- can bridge the most intractable divide in all of international politics. In light of Israeli and American attempts to starve the Hamas-led Palestinaian government of hard currency, it’s not even clear if such an offer would be allowed to go through or not.

The low key socialist cum businessman declined any comment concerning the nonstop rumors of an impending merger between 888 Plc and Ladbrokes, another major player in the online gaming industry. In an email to the Reg, Ladbrokes confirmed that it still has a strong interest in acquiring 888, primarily due to 888’s strength in the Asian market and in-house software development. The yet to be consummated deal is reported to be valued at about $960m.

You can find the full interview here. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.