Online Gambling Hedges Its U.S. Bets
As reported by Business Week: "The U.S. Congress has yet to pass the pending
legislation cracking down on Internet gambling. But in the meantime, the
Justice Dept. has cast a much deeper freeze over the business with its July
arrest of BetOnSports Chief Executive David Carruthers. Now, under pursuit
of U.S. legal authorities, European online gaming companies are scrambling
to reduce their exposure in the U.S. and find new markets in Europe and
Asia. "Industry insiders say the trend could signal the start of a major
wave of consolidation. "...The potential loss of their U.S. markets is
devastating for online gaming companies. "...But companies are now facing up
to the possibility that they'll lose their fight with Washington..."
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