[scottyy11]

No longer allowing US players as of Oct 3rd. Check to be mailed out with balances.

anyone here anything about fulltilt or doyles?

[jjgold]

Its a matter of time full tilt and doyles will drop usa players too

I would expect bodog also to drop usa players

[JoshW]

Some poker rooms will certainly stick around. That said with all their US ownership, I would think that Full Tilt and Doyle would be the most likely to close up to US players, but who knows.

[scottyy11]

agreed laker



I do see some major consolidation coming though party has lots of cash i know they were interested in victor chandler and ladbrokes at one point.

[JoshW]

Good points Scotty.

[JoshW]

Second Look: Internet Gambling Sites


© 2006 The Associated Press

NEW YORK — CryptoLogic Inc., a maker of software for Internet gambling sites, was downgraded by CIBC Tuesday and the stock continued its free-fall, precipitated by new legislation that aims to stop Internet gambling in the United States.

CryptoLogic, which dropped 18 percent Monday, was off another $1.26, or 7 percent, to $16.72 in midday trading on the Nasdaq. The stock's 52-week low is $14.84.

The Canada-based company and other Internet gambling operators that do business with U.S. customers stand to lose revenue generated here because of the Unlawful Internet Gambling Enforcement Act, passed Saturday by Congress and expected to be signed soon into law by the president. Specifically, the law prohibits banks and CC companies from processing transactions for online betting sites.

CIBC analyst Todd Coupland estimated Cryptologic earned 30 percent of its revenue last year in the United States, and now expects 2007 revenue to be $78.4 million, down from his previous estimate of $108 million.

"CryptoLogic is unable to offset the lower revenue with lower costs," Coupland said in a note to investors. He downgraded the stock to "Sector Underperform" from "Sector Outperform."

Canadian online payment processing company Optimal Group Inc. also continued to lose ground after saying Monday that the legislation will have a "significant negative impact" on its FireOne Group PLC unit.

Optimal, which fell 25 percent Monday, was down another 43 cents, or 4.9 percent, to $8.38 on Tuesday. The stock's 52-week low is $7.54.

Meanwhile, shares in GigaMedia Ltd., a Taiwan maker of gambling software, rebounded Tuesday after the company said the law will not hurt its business because it does not have any U.S. revenue. The stock lost 12 percent yesterday.

"GigaMedia would like to clarify that it has been and remains a pure play international business _ with no U.S. source revenue," the company said in a statement. The Taipei-based company "therefore anticipates no adverse financial impact from the new legislation."

GigaMedia added 42 cents, or 4.3 percent, to $10.26 in recent trading on the Nasdaq. The stock has ranged from $1.74 to $12.55 in the past year.