News

  • 02 October 2006

    BUSH EXPECTED TO SIGN SAFE PORT ACT WITH BAN ON ONLINE GAMBLING RIDER THIS WEEK

    Yahoo News Mon Oct 2, 10:21 AM ET WASHINGTON (AFP) – US President George W. Bush this week is expected to sign a bill making it harder to place bets on the Internet, a practice which already is illegal in the United States. Bush was expected to act quickly after Congress approved the Unlawful Internet Gambling Enforcement Act making it illegal for financial institutions and credit card companies to process payments to settle Internet bets.

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  • 02 October 2006

    OPTIMAL GROUP STATES US LAW AS RELATES TO FIREPAY WILL HAVE SIGNIFICANT IMPACT

    CNW GROUP Optimal Group Makes Announcement Regarding U.S. Legislative Impact upon its FireOne Group plc Subsidiary MONTREAL, October 2 /CNW/ – Optimal Group Inc. (NASDAQ:OPMR) today made the following announcement regarding the adoption by the United States Congress of the Unlawful Internet Gambling Enforcement Act of 2006. On September 30, 2006, the United States Congress passed the Unlawful Internet Gambling Enforcement Act of 2006.

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  • 02 October 2006

    Share Prices Plummet Following US Senate’s Move

    iGAMING 02-10-06 Shares in online gaming firms have dived this morning on the London Stock Exchange, as the industry grapples with the news that the US Senate has passed a bill outlawing internet gambling. Party Gaming has seen a massive 60% drop in prices, while 888 has seen its stock fall by 45%. This has caused the latter to suspend all US business for the foreseeable future and issue a statement saying that this and next year’s figures will be severely affected.

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  • 02 October 2006

    GAMBLING SHARES SLUMP, GAMING COMPANIES TO FOLD US OPERATIONS

    DOW JONES / MARKET WATCH Gambling shares slump after U.S. act approved PartyGaming, 888 Holdings prepare to fold U.S. operations By Simon Kennedy, MarketWatch Last Update: 6:58 AM ET Oct 2, 2006 LONDON (MarketWatch) — Shares in U.K.-listed online gambling companies including PartyGaming and 888 Holdings plummeted Monday after the U.S. Congress unexpectedly passed an act that could cripple the industry by cutting off its revenue flows.

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  • 02 October 2006

    CRYPTOLOGIC WILL NOT TAKE WAGERS FROM US BASED PLAYERS

    U.S. Internet Gaming Legislation Validates CryptoLogic’s Global Strategy Licensees will no longer take U.S. bets; after five years of planning, software provider well-positioned with revenue and customers based in world’s most attractive e-gaming marketsTORONTO, ONTARIO — (MARKET WIRE) — October 02, 2006 — ALL FIGURES IN $USCryptoLogic Inc.

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  • 02 October 2006

    SPORTING BET DROPS US PLAYERS AS WELL AS PLANNED MERGER

    REUTERS LONDON, Oct 2 (Reuters) – Online gaming group Sportingbet Plc (SBT.L: Quote, Profile, Research) said on Monday it would scrap a planned merger and might stop doing business with U.S. customers after legislation was passed there aimed at preventing gambling over the Internet. “Should Sportingbet’s non-U.S. international banking partners determine that the act applied to them, then Sportingbet would no longer be able to take deposits from U.S.

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  • 02 October 2006

    PartyGaming To Suspend All US Money Accounts

    PartyGaming Press Release 2 October 2006 PartyGaming Plc United States legislation On 30 September 2006, the United States Congress passed The Safe Port Act. That measure also contained certain provisions known as the ‘Unlawful Internet Gambling Enforcement Act of 2006’ that will affect the processing of payments between US customers and online gaming companies, including PartyGaming, that are publicly traded and licensed and regulated in respected jurisdictions.

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  • 01 October 2006

    NETELLER CONTINUES TO OPERATE ITS BUSINESS AS USUAL

    NETELLER MEMBER UPDATE US Member Update: 1st October 2006 On Friday 29 September 2006, the US Congress passed legislation which includes certain provisions to prohibit unlawful internet gambling through the restriction of payments to such sites.

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  • 01 October 2006

    888 THE FIRST TO BUCKLE - EXPECTED TO SUSPEND BUSINESS FROM US CUSTOMERS

    Financial Times By Roger Blitz in London Updated: 3 minutes ago 888 Holdings, one of the biggest companies in the $12bn online gambling industry, is expected to suspend indefinitely business from US customers on Monday. The move comes as the sector braces itself for a massive reaction from investors to the dramatic US decision to tighten its anti-gambling laws.

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  • 01 October 2006

    GAMBLING LEGISLATION ATTACHED TO SAFE PORT ACT

    A watered down version of the ban on online gambline was at the last minute attached to the Safe Port Act, legislation sure to pass in Congress. There weren’t een copies of the progposed legislation until the Act was passed. You can read the entire legislation package at this SAFE PORT ACT pdf link.

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