Feeds

Party Gaming axes interim dividend

US gambling ban reverberates through sector

Beginner's guide to SSL certificates

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. ®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
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?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.