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Bad news for World Gaming shareholders as the company has just announced that it is to file for administration, a direct response to the US online gaming ban that looks all set to be passed later today.
World Gaming, based largely in Antigua, generated the vast majority of its revenues from the US. The company suspended its shares on 9 October, pending a decision on its future.
Shockwaves have been sent through the online gaming industry after the unexpected approval of anti-gambling legislation late on Friday in the US.
The laws – the first in the States to deal specifically with internet gaming - ban banks and credit card companies from processing payments for bets placed over the web.
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