World Gaming In Trouble
Published: Wednesday, October 04, 2006 Online-Casinos.com
WORLD GAMING IN TROUBLE
Stock exchange warning that company could be in default on its debt facilities
World Gaming, already reeling from the abandonment of its multi-million dollar deal with Sportingbet has had to flag another potential problem area to stock exchange authorities.
The company has warned it might be in default on its debt facilities following recent events in the US where a ban on financial transactions to on line gambling sites was approved over the weekend (see previous Online-Casinos.com/InfoPowa reports).
In an announcement to the London Stock Exchange, the company said: "Having reviewed the company's debt facilities agreement... the Directors believe it may be in technical default of its loan conditions due to a material adverse change in the circumstances of the business, arising from proposed changes in legislation in the United States."
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