After Gambling Bill, 888 Holdings Freezes US Business

02-Oct-2006, 08:12

Internet gambling firm 888 Holdings Plc is expected to freeze indefinitely business from U.S. customers on Monday after Washington moved to tighten its online gambling laws, the Financial Times said.

The company is thought to be preparing to issue a statement to the London Stock Exchange acknowledging that congressional approval of the U.S. bill last Friday would have a 'material' negative impact on its trade, the newspaper reported, citing unnamed people close to 888.

A company spokesman was not immediately available for comment.

Rival gambling firm Sportingbet Plc was also believed to be preparing a statement for the stock exchange but is expected to wait to consider the actual effect on business, the FT reported.

The bill, a compromise between earlier versions passed by the House of Representatives and Senate, would make it illegal for banks and credit card companies to make payments to online gambling sites.