A new bill making it illegal for banks and credit cards to process gamingpayments has been passed by the US Congress, could this effect BlackburnRovers, with them obviously sponsored by online betting firm bet24. The moveis aimed to clamp down on betting, which ultimately leads to seriousfinancial trouble for many people. So should the bill, […]
Russia will set up not more than four zones where gambling houses may runtheir businesses, speaker of the State Duma lower house of the Russianparliament Boris Gryzlov said Wednesday after a meeting between the housefactions’ leaders and the Russian president earlier in the day. It isenvisioned by amendments to the law on gambling, submitted by […]
In a move engineered by Senate Majority Leader Bill Frist (R – Tenn.), theUnited States Senate on Saturday passed legislation, by a voice vote, thatostensibly would tighten security restrictions on cargo shipments fromoverseas. But attached to the tail end of this bill was language from anearlier House bill that was going nowhere since last July, […]
The shares of several Canadian-based online gaming companies plunged in midafternoon trading today after U.S. Congress approved new legislation aimedat restricting most forms of online gaming. As of 2:15 p.m., the shares ofleading software company Cryptologic Inc. fell $4.58, or more than 19 percent, to $20.05 in midafternoon trading, a week after the Toronto companysaid […]
THE costs of policing a new US internet gambling ban for banks and creditcard companies will be determined by regulators in the coming months,industry officials said. Government officials are expected to propose a“coding-and-blocking” system that will identify and stop payment to onlinegambling sites, experts said. Many banks and credit card companies alreadyvoluntarily block internet gambling […]
Canadian Internet gambling companies were rattled Monday as their stockstook a nosedive in the wake of legislation passed by the U.S. Congress thateffectively outlaws online wagering in the United States. Shares in leadingsoftware company CryptoLogic Inc. (TSX:CRY) took the biggest hit, retreatingmore than 19 per cent, or $4.76, to $19.87 on the Toronto Stock Exchange.The […]
Shares in online gambling companies listed in London lost more than halftheir value immediately after a dramatic move by US authorities to banInternet betting.The market was taken by surprise when the US Congress unexpectedly rushedthrough the Unlawful Internet Gambling Enforcement Act on Saturday, dealerssaid.Meanwhile, US casino owner Harrah’s Entertainment Inc. said thatprivate-equity firms Apollo Management […]
Internet gambling legislation passed late last week by the U.S. Congress,which led to a major sell-off of Britain-based online gambling stocksMonday, remains a concern to the U.S. banking industry but isn’t asburdensome as feared. “We got some language in the bill that looks like itprotects the financial services industry,” said Steve Verdier, director ofcongressional relations […]
Two global online gambling companies have halted U.S. operations after theU.S. Senate criminalized such activity, sending their shares plummetingMonday.Lawmakers early Saturday outlawed the processing of bets by U.S. residentsby banks and credit companies in a surprise assault on the United States` $6billion Internet gambling industry. That, in turn, prompted Britain`s 888Holdings and PartyGaming, the world`s […]
The ball landing on zero on the roulette wheel when you’ve bet your lastchip. That dead cert falling at the first, with all your wages in itsnosebag. Your pocket aces getting cracked while a pair of twos scoops thepot. Roll up all that bad luck into one big ball of misery and you might getjust […]
Online gambling companies in the U.K. took a huge hit Monday as investorsreacted to news that the U.S. Congress had passed legislation prohibitingthe use of credit cards, checks and electronic fund transfers for onlinegaming. Shares of British gambling companies, including Sportingbet andPartyGaming, were sharply lower Monday. CBS News reporter Vicki Barker inLondon reported that shares […]
Canadian online payment processing company Optimal Group Inc. said Mondaythat online gambling legislation passed over the weekend by the U.S.Congress will have a “significant negative impact” on its majority-ownedFireOne Group PLC unit. Congress passed the Unlawful Internet GamblingEnforcement Act of 2006 on Saturday, which when enacted, will prohibitgambling businesses from accepting credit cards, checks and […]
CryptoLogic saw its shares tumble after the maker of Internet gamblingsoftware said licensees of WagerLogic, its licensing unit, will no longertake wagers from U.S.-based players. The company cited new legislationexpected to be signed Monday by President Bush that outlaws the processingof financial transactions in the U.S. online gambling market. CryptoLogictried to take an upbeat view, […]
THE US Government stunned the online gambling industry over the weekend bypassing laws that effectively ban the services from their biggest market.The $US6 billion ($8 billion) industry went into meltdown over the news,with shares in UK-listed PartyGaming, 888 Holdings and SportingBet – whichhas operations in Australia – plummeting in early London trading overnight.Also in the […]