Online Casino Sites Are Recovering From UIGEA21 Dec 2006 Just as experts and analysts predicted, online casino sites in the US are starting to recover from the legislation of the Unlawful Internet Gambling Enforcement Act. Although many companies were heavily damaged at first, it seems now as they are recuperating, showing figures reminiscent of those before the legislation. One of those US online casino sites has reported this week that its daily online poker revenues had recovered to $721,000 , after dropping to only 637,000 in October. According to the people inside the online casino, the site’s losses came due to fact that other online casinos were ignoring the ban and accepting US players.
“We lost some higher-ranking players because of that legislation, but we’re recuperating thanks to strong levels of new player sign-ups” said a spokesman for the online casino. Following the forced changes, the site takes 67% of its revenues from Europe, the Middle East and Africa and 27% from Canada, Central and South America. As of November 30th, the total net cash of the online casino stands at over $46 million.
But not everything looks bright at that specific online casino. Due to the ban and its following repercussions, the company had to cut 945 jobs (41 percent of its workforce). The last two months may have been hard for the online casino and its employees, but as we can see from these latest figures, there are some reasons to stay optimistic. After all, the future may hold some pretty good things for the site – and the whole online gambling industry.
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