VIENNA (Reuters) - Austrian online betting firm bwin
Bwin.com Interactive Entertainment said it had come to the decision after Bush signed the Unlawful Internet Gambling Enforcement Act which makes it illegal for banks and credit-card companies to make payments to online gambling sites.
"Bwin has decided to comply with the new legislation and will no longer accept any new U.S.-resident customers for its real money gaming products, effective immediately," the firm said in a statement published on Friday evening.
"The company is working on technical arrangements that will prevent existing customers from accessing its real money games," bwin added.
Advertisement starts
Advertisement ends
Bwin only gained access to the U.S. online gambling market in spring when it took over Swedish online poker site Ongame. In the second quarter in 2006, just over 20 percent of bwin’s total gross gaming revenues were generated by U.S.-based customers.
Bwin shares closed on Friday at 18.05 euro. The shares have lost around 80 percent since the start of the year.
