The popular online casino said that following legislation introduced in the US making it illegal for banks to make payments to online gambling sites, it received legal advice and sees no alternative but to cease operating in the US.
The Australian online gaming operator said its profitability for the 2007 financial year was likely to be materially adversely affected by the fall in revenue as the US market accounts for about 70 per cent of the company\’s total revenue.
Lasseters Managing Director Peter Bridge said the company will expedite its plan to seek out new markets and launch new products including an online sports betting operation.
In separate news, Global Approach, owner of Gold Reef Casino and Beach Club Poker, said it plans to offset any potential revenue loss caused by the new US legislation by continuing its expansion into the European and Asian markets. The company also said it was in merger and acquisition talks with potential partners.
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