Leisure & Gaming Looking To Sell U.S. Operation
Published: Tuesday, October 10, 2006 Online-Casinos.com
LEISURE AND GAMING LOOKING TO SELL U.S. OPERATIONS
Takeover approaches have been received
Another online gambling company, Leisure and Gaming, has told the UK newspaper The Guardian that it will stop taking bets from US customers when the new financial restrictions law is signed by the president, and will compensate by focusing solely on its existing UK and Italian businesses.
It said it was considering its options to suspend, close or sell its US operations and that the company had received a number of takeover approaches for its US-facing businesses.
The sector, which was already threatened by uncertainty over the status of online gambling in the US, was thrown into turmoil when the Senate included restrictions on internet gambling financial transactions in the port security bill earlier this month. The legislation makes it illegal for banks and credit card companies to process online gaming payments in the US.
Leisure and Gaming joins several public companies in the sector, such as PartyGaming and 888 that have already said they would suspend operations in the US, although Sportingbet has kept its options open.
L&G is the parent group for online gambling operations such as the recently merged Nine.com-VIP group and the English Harbour online casino group.
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