Feeds

Party Gaming axes interim dividend

US gambling ban reverberates through sector

Security for virtualized datacentres

Party Gaming, the world's biggest online gambling business, is axing its interim dividend, worth $115m, previously due to be paid on 31 October.

It is making the move in response to the prohibition of online gambling in the US, where most of its customers live. The ban was smuggled unexpectedly through Congress late last week, with provisions making it illegal for American banks and credit card firms to process payments to gambling sites inserted the Safe Port Act. The ambush threw the big online gambling companies into disarray and sent their share prices plummeting. Most of the major players are listed on the London Stock Exchange, if domiciled abroad.

Party Gaming, headquartered in Gibraltar, has suspended all real money gambling with US residents. It says the cancellation of the interim dividend will enable it to "take advantage of the many attractive opportunities in the sector that will emerge over the coming months".

We take this to mean that it is looking to make distress purchases and to beef up its business in east Asia, a hotspot of gambling, of all kinds. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.