Canadian online payment processing company Optimal Group Inc. said Monday
that online gambling legislation passed over the weekend by the U.S.
Congress will have a “significant negative impact” on its majority-owned
FireOne Group PLC unit. Congress passed the Unlawful Internet Gambling
Enforcement Act of 2006 on Saturday, which when enacted, will prohibit
gambling businesses from accepting credit cards, checks and electronic fund
transfers to settle online wagers.
FireOne provides payment processing services for the online gambling
industry. Optimal holds a 76 percent stake in the company. Optimal said the
its Optimal payments unit is not affected by the act. The company also said
it divested its Optimal services group hardware maintenance and services
business. The move will not have a material impact on financial statements.