Shares in online casino World Gaming were suspended today as the fall-out from new anti-gambling legislation in the United States continued.
World Gaming said it asked for its shares to be suspended “with immediate effect due to a fundamental uncertainty over its ability to continue trading”.
It followed the shock approval of new laws effectively banning online gambling in the US which sent World Gaming shares tumbling 92% last week.
The decision by Congress to back the Unlawful Internet Gambling Enforcement Act deprived World Gaming of nearly all its revenues as more than 95% of its customers are based in the US.
Shares recovered slightly today but were suspended at 8.5p – valuing the firm at just £7.7m (€11.4m) million compared with the £56.6m (€83m) Sportingbet was planning to bid a week ago. Sportingbet pulled out of takeover talks following approval of the Bill.
There was a small rally in the online gaming sector today, despite confirmation that Party Poker owner PartyGaming will fall out of the FTSE 100 Index and 888 Holdings will be relegated from the FTSE 250 Index on Wednesday following last week’s last value.
Design Works Gaming (DWG), the Arizona-based casino provider, has increased its European market through collaboration with Malta-based casino provider, Kindred Group. According to the deal, Design Works Gaming agreed to supply Kindred with its premium games that are created to boost excitement and bring the atmosphere of Las Vegas nightlife. More than 80% of DWG’s titles have unique game attributes and very good math models.
Retro Gaming, an online slot developer, will supply its games to leading online casino provider, SoftSwiss. The titles such as Galactic Win, Forest of Wealth, Red Hot Fruits, and Retro Joker, are now available through Spinomenal's pre-integration with SoftSwiss. Thanks to this partnership, the gaming content will be available to all of the brand’s white label partners and game aggregators that operate under the Curacao and Malta licenses.
BF Games, an online casino provider, agreed to distribute its games with Belgian casino provider, Versailles Casino, as part of an agreement that the group believes is proof of the popularity of their games in the country. The deal stipulates that the online casino brand will increase its presence across the country, with 11 slots that will be available to the operator’s players. The agreement includes titles like Stunning 27, Stunning Hot, and Royal Crown.