The online gambling industry woke up this morning to learn that online money
transfer Giant NETeller has decided to withdraw "no pun intended" from the
Canadian and Turkish markets. Here is a statement the company's board
released to the London Stock Exchange: The NETELLER Plc Group ("NETELLER" or
the "Group") (LSE: NLR), the leading global independent online money
transfer business, today announced several significant changes to its
services in a number of markets. The Group continually assesses the risk
profile and status of the markets its serves. Recent actions by regulators,
payment processors, and online gaming operators have increased the
uncertainty around certain activities related to online gambling in some
jurisdictions. The Board of Directors of the Company reached a decision, on
25 March 2007, that the risk to the Group's ongoing business in Canada and
Turkey has increased in the light of such developments. The Board has
therefore concluded that the Group will no longer process transfers related
to online gambling sites on behalf of Canada or Turkey resident customers.