PartyGaming take $250 million hit on US exit

Ian_go

Dormant account
Joined
May 7, 2004
Location
Canada
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

Webmaster
webmeister
Joined
Jun 22, 2005
Location
USA
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.
 
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