Gaming firms in freefall as US bans online betting
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War-on-terror's poker face Shares in online gambling companies like Partygaming are in freefall this morning after the US Congress unexpectedly passed anti-online gambling laws late on Friday.â¦
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Online gaming group PartyGaming Plc said on Monday it would stop doing business with U.S. customers if legislation passed there aimed at preventing gambling over the Internet was signed into law.
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GENEVA -- A ruling from the World Trade Organization could open the United States to offshore Internet gambling. A WTO panel says the federal government should drop its ban on Americans placing bets at online casinos.
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The European Commission dealt a blow to European online gaming companies on Monday when it accepted a U.S. offer of openings in other sectors to compensate for closing the U.S. gambling market to foreign firms.
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Britain's online gambling firms switched   their sights away from the United States to look for new growth   areas on Tuesday after the U.S. Congress passed legislation to   end Internet gaming in their biggest market.
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The United States detained a second  Internet gaming executive on Thursday, adding to fears it is  cracking down on the lucrative industry and sparking share  price falls that wiped over $1.5 billion off the market value  of the sector.
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By Matt Richtel and Thomas Crampton  Al Baker contributed reporting. *  Broadening the U.S. attack on Internet gambling, law enforcement agents in New York have arrested the chairman of Sportingbet, which offers online sports betting and is traded on the London Stock Exchange.
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Internet gaming group BETonSPORTS  , which removed its chief executive from his job  following his detention in Texas last month on racketeering  charges, said on Friday it was closing down the U.S. business,  which drives the vast majority of the company's profits.
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'Incompatible with community principles' Italy cannot use criminal law to stop gaming companies licensed in another EU nation from taking bets in the country, the European Court of Justice (ECJ) ruled Tuesday. Italian restrictions are incompatible with Community principles, the court said.â¦
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LONDON/NEW YORK  - The United States has arrested   a second Internet gaming executive, adding to fears it is   cracking down on the lucrative industry and sparking share   price falls on Thursday that wiped over $1.5 billion off the   market value of the sector.
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Shares in online gambling companies listed in London lost half their value after a dramatic move by US authorities to ban gambling on the Internet.
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US legislation on online betting was described as "protectionist" by the European Union's top financial regulator on Tuesday and may trigger legal action before the World Trade Organisation.
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Online gaming firms faced their biggest-ever crisis on Monday after U.S. Congress unexpectedly passed legislation to ban online gaming there, threatening jobs and hitting stocks by as much as 70 percent.
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The World Trade Organisation confirms a ruling that says the US cannot ban internet gambling.
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US gambling ban reverberates through sector Party Gaming, the world's biggest online gambling business, is axing its interim dividend, worth $115m, previously due to be paid on 31 October.â¦
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British online gambling company PartyGaming has suspended its interim dividend to shareholders in the wake of US moves to ban Internet betting which has sent its share price plummeting.
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Europe's online gaming  industry filed a complaint with the European Commission on  Tuesday, saying Germany's ban on online gambling breaks EU law  on the free movement of services.