The developer of software for the online gambling industry announced that following the passing of the UIGE Act, it will stop licensing its software to existing and future operators who accept bets from US players with effect from the date the Act becomes law.
Playtech\’s software incorporates back-end features that enable operators to control and efficiently take such action to block specific jurisdictions. Accordingly the company has requested that its existing licensees block transactions from players residing in the US as soon as practically possible following the Act\’s implementation.
The Board is confident that the company has substantial business development opportunities in Asia, Europe and South America and is supported by significant cash resources and operating cash flows.
Earlier this week, the company\’s CEO Avigur Zmora told media reporters that the US ban woulld set Playtech\’s finances back by a year, but on the positive side the company was re-focusing on software for Asian markets.
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