Several media outlets are reporting that Senator Barney Frank could be working on a bill that would repeal the UIGEA and also that charges may be dropped against Neteller directors John Lefebvre and Stephen Lawrence. Below is some key quotes from a few media reports today.
March 14 (Bloomberg ) -- Online-gambling stocks rose after the Financial Times said House Financial Services Committee Chairman Barney Frank wants to repeal a law passed last year that criminalized the industry.
Shares of Gibraltar-based PartyGaming Plc, the world's biggest Internet poker operator, had their biggest gain in 15 months. Shares of 888 Holdings Plc and SportingBet Plc also advanced in London.
``I am working on legislation to cut back on this Internet gambling thing,'' the FT cited Frank as saying on its Web site, referring to last year's law. ``I think it's preposterous,'' and the law is one of the ``stupidest'' ever passed, the FT cited him as saying. ``Maybe we can make some money off it,' he added.
Online-gaming stocks plummeted across Europe in October after Congress unexpectedly banned the collection of credit-card payments from gambling Web sites.
``The slightest indicator that operators may get business back in the U.S. is going to get speculators coming in,'' said Andrew French, a sales trader at E*Trade Securities in London.
http://gamingintelligencegroup.com/gig/content/view/182/2/
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