Internet gambling form sells US business

The Gambling Enforcement Act is going to be a problem for the business of gambling online. Note that I said "business" and not "existence". The latter is not in question.

Online gambling firm Sportingbet has announced it has sold its US operations after Congress passed a law banning internet cash gaming.

In a statement Sportingbet said it undertook a “comprehensive legal and strategic review” of its US operations following the passing of the Unlawful Internet Gambling Enforcement Act 2006 by US Congress on September 29.

The British-based company says it has sold its US sports betting and casino business to Jazette Enterprises Limited for a nominal fee of $1 (79c), with the buyer taking on liabilities of $13.2m (€10.51m).

Link: Internet gambling form sells US business