Online Casino Legislation Takes its Toll
By Andrew B
World Gaming has been forced into administration as it became the first major casualty of the US crackdown on online gambling.

Shares in the firm, which had relied on the US for more than 95% of its customers, were suspended on Monday due to “a fundamental uncertainty over its ability to continue trading.”

Four of World Gaming's top directors, including Chief Executive Daniel Moran, have resigned.

In a statement, World Gaming said, “Following the announcement released by the company on Monday relating to the suspension of trading, the directors of World Gaming announce that they have now determined that they are unable to continue the company’s US facing operations should the Unlawful Gambling Enforcement Act be signed by the US President.”

The bill, being signed by President Bush on Friday, effectively makes it illegal to accept bets from US customers.

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