Casino News

Neteller to stay in the States

2006-10-13 18:00:20

Online fund transfer business Neteller has announced its intention to continue serving its American customers, despite new legislation that makes it illegal for banks and credit card providers to process internet gaming payments.

The Unlawful Internet Gambling Act is to be signed into law by US President George Bush today, and several online gambling companies have already announced their intention to pull out of the American market.

Earlier this month Isle of Man-based Neteller released a statement saying it was unclear how the new legislation would affect its business. However, after careful consideration the company has announced that it is committed to the US and will carry on business as normal.

Bruce Elliot, Neteller's executive vice president of sales and marketing, told delegates at an online gambling conference in Barcelona: "We are staying in the US. I don't think we have a problem."

According to the Wall Street Journal, around 85 per cent of Neteller's profits come from the US and Canadian markets.