The Queen of Hearts

FirePay to throw in the towel?

There are rumors that popular online gambling payment processor, FirePay, may be about to throw in the towel and stop catering to internet gambling websites that market to US players. This follows the passage of a bill in the United States Congress that would hold financial institutions accountable for prohibiting transactions between it and offshore gambling establishments.

Meanwhile, it seems PartyGaming shareholders have been left to dry. According to the London Independent, PartyGaming, the internet poker giant, has told its shareholders it will not now pay the dividend it promised last month, saying it needed the money instead to fund expansion of its operations in Europe and Asia.

Its U-turn came in the wake of the US Congress vote to prevent Americans gambling online, a decision that was still causing upheaval across the industry Tuesday.

PartyGaming reportedly said it would now keep the $115m it had been due to pay out to shareholders as a 3 cents-per-share dividend at the end of this month.

Read more

posted by Queen of Hearts @ 05:36