Citadel Commerce Shuts Down Financial Processing for Non-domestic Internet Gaming Merchants for USA Consumers
VANCOUVER, Jan. 17 /CNW/ - ESI Entertainment Systems Inc.
ESY), a leading provider of products and services to international organizations and the gaming industry, today announces that effectiveimmediately it's subsidiary Citadel Commerce Corp. will no longer offer financial processing to non-domestic Internet Gaming merchants for USA consumers.
The Company was looking forward to complying with the new Regulations for financial processors under the Unlawful Internet Gambling Enforcement Act of 2006 passed on October 13, 2006 but this decision was made by the ESI Board of Directors in the light of recent US Department of Justice enforcement actions against financial processors executives.
This decision will have a material impact on the financial condition of
the Company as a substantial part of its revenues was derived from
non-domestic Internet Gaming merchants for USA consumers.
-- Thanks to poster mvbski for the hat tip.
VANCOUVER, Jan. 17 /CNW/ - ESI Entertainment Systems Inc.
ESY), a leading provider of products and services to international organizations and the gaming industry, today announces that effectiveimmediately it's subsidiary Citadel Commerce Corp. will no longer offer financial processing to non-domestic Internet Gaming merchants for USA consumers.
The Company was looking forward to complying with the new Regulations for financial processors under the Unlawful Internet Gambling Enforcement Act of 2006 passed on October 13, 2006 but this decision was made by the ESI Board of Directors in the light of recent US Department of Justice enforcement actions against financial processors executives.
This decision will have a material impact on the financial condition of
the Company as a substantial part of its revenues was derived from
non-domestic Internet Gaming merchants for USA consumers.
-- Thanks to poster mvbski for the hat tip.
