PartyGaming take $250 million hit on US exit

[Ian_go]

Online gaming firm PartyGaming said today that its decision to pull out of the US market is expected to cost the company about $250 million (£133 million) in the second half.

The company suspended its operations in the US on October 13th after US president George Bush ratified a law banning banks and credit card companies from processing online gambling payments.

Yesterday, PartyGaming rival Sportingbet said that....

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[kwblue]

I guess it remains to be seen if they can regain their stock prices with a larger player base from other areas. I think this will continue to take it's toll on them for quite some time.

I do not understand why they completely get out of the US market while other operations welcome all but those from select states. It defies logic.

Great article, though, thanks.

 

[Ian_go]

Great article, though, thanks.

My pleasure kwblue. Positive feedback from the articles I post keeps me coming back