Feeds

Gambling impresario pushes fanciful Palestinian fund

$1bn for peace

Secure remote control for conventional and virtual desktops

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. ®

Intelligent flash storage arrays

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Lawyers mobilise angry mob against Apple over alleged 2011 Macbook Pro crapness
We suffered 'random bouts of graphical distortion' - fanbois
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Internet Security Threat Report 2014
An overview and analysis of the year in global threat activity: identify, analyze, and provide commentary on emerging trends in the dynamic threat landscape.