IQL Leaves The Business

Published: Wednesday, November 01, 2006 Online-Casinos.com

IQL LEAVES THE BUSINESS

Half a million dollar cost to November pull-out


The company was at one time one of the most prolific turnkey sportsbook and online casino providers in the industry, but in more recent times there were reports that it was wracked by financial travails, and it shrunk to a shadow of its former size. This week IQ Ludorum packed its bags and announced it will be out of the online gambling software business by the end of next (November) month.

It seems to be moving instead into a sector where there is likely to be plenty of action as US residents look for workarounds on the new US anti-online gambling laws.

Company spokesmen said that the cost of the departure was likely to be in the region of $500 000, but on the positive side IQL is launching an e-wallet service that it has branded Globewallet, a Visa pre-paid debit card. The company's intention is to close its egaming software business to focus entirely on the financial services sector specialising in epayments processing.

The payment processing services company said Globewallet is a secure way to make online payments and remit funds worldwide.