Internet Casino Billionaire Offers Big Money For Peace

Israeli online casino entrepreneur, Avi Shaked, has offered to give $100 million to help boost the poor Palestinian economy if the prime minister sits down with his Israeli counterpart. He will give the Palestinine leader another $900 million if the talk results in an agreement that would bring long lasting peace to the area.

The initial instalment of $100 million was promised to be made if Prime Minister Ismail Haniyeh, a leader of the Islamist militant group Hamas, and Israel's Ehud Olmert simply sit down and start the negotiations.

Shaked, a main operator of 888.com, wants the money to bring the Palestinian economy up to the standards of the Israelis which he believes would put the sides on a level footing thus doing away with the poverty that helps fuel the conflict.

Haniyeh, who is on a tour of the Middle East to try to raise money for his government, hamstrung for the past nine months by international sanctions, was reported to have rejected the offer on Tuesday.

But Shaked said he understood Haniyeh and Hamas, which has run the Palestinian government since March after winning elections, were considering the proposal.

Israel's government was more dismissive of the initiative, with an official saying it was already committed to long-standing proposals such as the U.S.-backed "road map".

"With all respect, this is not something you do with millionaire's money," said the official, who asked not to be named. "This is a government that answers to an electorate."

Olmert has said he will not negotiate with Hamas. He has said, however, that he will talk to Palestinian President Mahmoud Abbas, the leader of Fatah, a more moderate party and rival to Hamas.

The initiative for peace offered up by Shaked goes against the American policy makers beliefs that online gambling money goes to support terrorism.

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