Feeds

Gambling impresario pushes fanciful Palestinian fund

$1bn for peace

Bridging the IT gap between rising business demands and ageing tools

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. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.