|Chartwell Technology has focused on the European market for a long time. The recent regulatory developments in the US have prompted the company to reiterate this stance on the geographical diversity of its revenue sources.|
The Port Security Bill passed by the US Congress contained an attachment that brought in an online-gaming funding ban. While still requiring the signature of President Bush to become law, its aim is to restrict funding of online gaming accounts of US residents by preventing banks and credit card companies from making payments to online gaming sites.
Chartwell's aim has always been to focus on building licensing relationships with operators who target gaming friendly jurisdictions.
Darold H. Parken, President and CEO, said, 'Chartwell's business and client base has always been focused on the European market. As such, we have positioned Chartwell to benefit from a move towards regulation in the European Union or, as in the current environment, to mitigate any significant losses in revenue as a result of US prohibition.
'The US position on the industry has been uncertain for quite some time now and we recognized early on that the immediate growth of the industry would be in the European Union and accordingly, that was and remains our focus.'