the noose is tightening...
Citadel Commerce Shuts Down Financial Processing for Non-domestic Internet Gaming Merchants for USA Consumers
VANCOUVER, Jan. 17 /CNW/ -
ESI Entertainment Systems Inc. ("ESI") (TSX:
ESY), a leading provider of products and services to international organizations and the gaming industry, today announces that effective
immediately 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.
About ESI Entertainment Systems Inc.
ESI Entertainment Systems Inc. ("ESI") (TSX: ESY) provides products and
services to the international gaming industry through its three principal
subsidiaries, Citadel Commerce Corp., ESI Integrity Inc. and PlayLine Inc.
ESI's products and services, which primarily consist of payment processing,
transaction monitoring and turnkey gaming platforms, are deployed in the
on-line and land based gaming markets.
Citadel Commerce Shuts Down Financial Processing for Non-domestic Internet Gaming Merchants for USA Consumers
VANCOUVER, Jan. 17 /CNW/ -
ESI Entertainment Systems Inc. ("ESI") (TSX:
ESY), a leading provider of products and services to international organizations and the gaming industry, today announces that effective
immediately 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.
About ESI Entertainment Systems Inc.
ESI Entertainment Systems Inc. ("ESI") (TSX: ESY) provides products and
services to the international gaming industry through its three principal
subsidiaries, Citadel Commerce Corp., ESI Integrity Inc. and PlayLine Inc.
ESI's products and services, which primarily consist of payment processing,
transaction monitoring and turnkey gaming platforms, are deployed in the
on-line and land based gaming markets.
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