World Gaming shares suspended over U.S. ban
By Andrew B
Shares of online gaming firm World Gaming Plc were suspended on Monday at the company's request, after the looming U.S. ban on online gaming made it difficult to continue trading.

World Gaming's shares lost 88 percent of their value last week but had recovered 9.7 percent on Monday morning before the decision to suspend them was reached.

A statement released by the company said, 'Following discussions with all of the key parties concerned and having taken legal advice, (the directors) have requested the trading of the company's shares be suspended with immediate effect due to a fundamental uncertainty over its ability to continue trading.'

The group said last week it might be in technical default of its loan conditions after U.S. Congress approved a bill making it illegal to accept bets over the Internet or for banks and credit card companies to make payments to online gaming sites.

Passed by the US Congress at the end of September, analysts widely expect President George W Bush to sign it into law.

 
 
 
 
 
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