U.S. outlaws online gambling
Saturday, October 14, 2006
Over the weekend, millions of Americans faced the new ban of online gambling.
The legislation was attached by Rep. Bill Frist to the Port Security bill.
Many of the public companies that offer online gambling have been quick to react and give their outlooks on the legislature. Party Gaming and 888 among others have said that they will shut down all U.S. operations if President Bush signs the bill into law. This sent online gambling stocks tumbling with Party Gaming leading the way with a 55% decrease in market value.
The people involved are awaiting to see what happens over the next few weeks.