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

01 October 2006

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. People close to 888 said they believed the company would issue a statement to the London Stock Exchange accepting that the passing of the bill in the US Senate on Friday would have a “material” detrimental impact on its business.

MORE – READ THE COMPLETE ARTICLE AT FINANCIAL TIMES

Related News

  • 26 May 2006

    MGM, Harrah's Press Congress for Piece of Online Gaming Action

    May 22 (Bloomberg) — MGM Mirage, Harrah’s Entertainment Inc. and other U.S. casino operators are increasing pressure on Congress to consider legalizing online gambling — at the same time lawmakers are seeking to tighten criminal penalties for it. The companies are trying to take advantage of a congressional backlash against gambling triggered by the Jack Abramoff scandal, involving his lobbying on behalf of Indian casinos.

    Read full article
  • 27 May 2006

    MGM, Harrah's Press Congress for Piece of Online Gaming Action

    May 22 (Bloomberg) — MGM Mirage, Harrah’s Entertainment Inc. and other U.S. casino operators are increasing pressure on Congress to consider legalizing online gambling — at the same time lawmakers are seeking to tighten criminal penalties for it. The companies are trying to take advantage of a congressional backlash against gambling triggered by the Jack Abramoff scandal, involving his lobbying on behalf of Indian casinos.

    Read full article
  • 29 May 2006

    U.S. PUSH TO ALLOW ONLINE GAMBLING

    By William Roberts Bloomberg News MONDAY, MAY 22, 2006 WASHINGTON MGM Mirage, Harrah’s Entertainment and other U.S. casino operators are increasing pressure on Congress to consider legalizing online gambling – at the same time that lawmakers are seeking to tighten criminal penalties for it. The companies are trying to take advantage of a congressional backlash against gambling set off by the Jack Abramoff scandal, involving his lobbying on behalf of Indian casinos.

    Read full article