October 3 - Online casino and gambling shares took a beating yesterday
in the wake of the news that the US Senate passed a bill that will make it
illegal for banks to process financial transactions for online gambling
activities...
The industry was thrown into widespread panic as two of the world's largest
online gambling firms announced that they will no longer accept US players.
Party Gaming and 888 Holdings made the shock announcement yesterday, and as a
result their shares took a hammering on the London Stock Exchange.
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Party Gaming's shares dropped by a huge 60%, while 888's stock took a 45%
nose dive.
888 have announced that they will no longer accept US players, and have
indicated that the current financial year's figures will be severely impacted.
In a conference call to their shareholders, 888 executives said that the
opinions of their legal counsel left them with no choice but to shut the door on
US players.
Party Gaming in turn have announced that they will stop accepting US players
once Pres. Bush signs the new legislation, which is inevitable.
We will keep you up tp date with the latest development and opinions.
Related Gambling Articles:
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- Playtech Online Casino Sites To Block US Residents - 10-03-06
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- Online Casino Portal Giving Away An Ipod in October - 10-02-06
- Online Gambling Prohibition, Sort Of - 10-01-06
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