  | Online Gambling Company Loses US 1 Billion Dollars to UIGEA The investment bank for famous leading online gambling company, Party Gaming, predicts that the company’s revenues will drop by more than US 1 billion dollars next year as a result of the Unlawful Internet Gambling Enforcement Act. The recent passing of this bill forced the online gambling giant to cease its operations within the US market and stop taking bets from US online casinos members. The impact of the recently passed legislation in the US has changed the shape of our business fundamentally. We continue to grow what is already a substantial business outside of the United States. Party Gaming is very much open for business for customers around the world. We do have the world's largest non-U.S. poker site by a large margin,’ said CEO of the online gambling firm, Mitch Garber. It seems that online gambling fans that have always turned to Party Gaming for their online casino betting will have to place their bets elsewhere. It seems since the passing into law of this recent legislation bill more and more online gambling companies are pulling out of the US market for fear they will be slapped with heavy fines, or worse, taken to court. Although these online gambling firms and operators are losing millions, and sometimes, like in the case of Party Gaming, billions, from doing this, it seems that continuing to operate in the US market is simply not worth the risk. It’s a gamble these online gambling firms do not want to take. Back |
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