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Online Casinos Begin
to Consolidate
Sept. 30-06
Due to the prohibitive measures being
exacted by the American governments policy against online gambling
companies. many internet gaming firms have started consolidation
in order to prepare for what maybe the end of the online casino
business in the U.S..
The executive of Party Gaming, Mitch
Garber, is joining a slew of other online casino execs in his are
projecting losses if the bill is past at the white house.
U.S. operations seem to be suspended
indefinitely due to the restrictive capacity of the HR4411 bill.
Losses ranging from 60 to 70% of gross
yearly income from the companies have many individuals involved in
the online casino business running scared.
The apprehension to conduct business
with recent legislation has caused the online casino business to
take a large nose dive and the results seem to be spelling a
premature doom for companies that primarily operate out of the
United States
Business analysts are expecting the
rate of consolidation to quicken as the month passes. The risk is
to great to wait out the presidents decision as it pertains to the
online casino companies.
Because the bill is currently attached
to a rider that is meant to heighten port security, the likely
hood of the bill being passed is high. Security increases are very
rarely vetoed by the government on any tier of the
legislative process.
The market for online casino business
is not necessarily completely closed however, foreign internet
hosts are backing out because of the level at which they have
delved into the internet casino business, this leaves for American
companies who wish to try their influence in the medium in case a
favorable decision s made by the President .
-Current
Online Casino News-
-September
News-
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