The Board of the online betting software provider announced that having reviewed the debt facilities agreement, the Directors believe the company may be in technical default of its loan conditions due to a material adverse change in the circumstances of the business, arising from proposed changes in legislation in the United States.
The company, which generates 95 per cent of its revenues from the US market, said it continues to operate and at current time it is in discussion with its lenders.
Between July 14, when the former CEO of BetonSports was arrested in the US, and today, shares in World Gaming felt from 121.5p to 12.5p, a fall of 90%.
UPDATE: World Gaming shed another 7.5p to close the week at 5p.
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