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Mitch Garber, chief executive officer of PartyGaming, in an interview with Bloomberg News, spoke about the implications of the U.S. funding ban on online gambling.
“For our company this development represents a major setback. It will affect our shareholders, our players and our industry,” he said. “US horse-race betting, state lotteries, fantasy contests and certain other online gaming activities have been exclusively protected under the new law and we are really disappointed that the popularity and skill of poker in particular has not been specifically protected.”
Many other online gaming companies issued statements in the light of the weekend's events. Empire Online said it had immediately begun a review of the likely impact on current business activities. “Presently it is difficult to assess the exact effect of this legislation, which could have a material impact on future earnings.” Officials from PokerStars told industry media that the Israeli-owned online poker company is considering the suspension of its activities in the US market, although no decision has so far been made.
Calvin Ayre, CEO of Bodog.com, issued a statement to Gambling911.com: “Bodog is a broad based digital entertainment company that long ago ceased to be dependent on any one revenue channel. Bodog will continue to monitor matters as they unfold but we do not expect to make any changes until our study is complete.”
The Unlawful Internet Gambling Enforcement Act creates a financial barrier around the US to stop Americans from gambling online and was added to unrelated legislation for US port security for an unexpected but successful passage.
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