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I sense this is DoJ pressure as part of the negotiation to let Neteller off the hook and free to operate in Asia and Europe.
If they can close down or substantially restrict North American online gambling it will be a major coup for the American authorities imo.
Of course, other processors will step up to fill the gap, and it goes without saying that players need to be alert for scams going forward.
Once again there are disappointingly short notice actions here, and this will do nothing for what is left of Neteller's reputation. As it stands, their financial reports in the future are likely to be pretty depressing when the US and these later bans start being reflected.
Their suspension of trading in their shares can't last forever, either and the investors will then show what they think of the way Neteller has allowed itself to be browbeaten by the DoJ in my view.
There was a comment on the announcement about the 75 days, too - don't hold your breath for fast payment, US players is what that constitutes:
"The Company would, in light of recent press comment concerning its announcement of 21 March 2007, like to make clear that the 75 day period referred to in that announcement was for agreement of a plan of distribution with the United States Attorney's Office. It would remain to be determined, as part of that plan, the precise timing of the distribution of funds to US customers."
This is going to have another adverse impact on the London listed companies in the industry in the short term, I think.
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jetset
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