An interesting couple of developments in the world of online gambling has taken place involving two major players.  It’s a couple of developments that illustrate both a tale of despair and a tale of hope and represent two heavily intertwined sectors in the online gambling industry.

Online bingo players and, maybe, online bingo hall operators who have been keeping up with online gambling news in the UK recently, may have guessed that I am referring to developments at both Interactive Gaming Holdings (IGH) and online payment company Neteller.

To refresh your memories, IGH has recently confirmed it has suspended trading of its shares, has seen senior board members and executives resign and has been unable to raise working capital finance to continue operations. IGH is a sports book and has had to recently stop taking action on its its Heathorns and Premierbet sites.  It’s all doom and gloom at IGH.

On the other hand, Neteller, which recently underwent a heavyweight tussle with US authorities that saw it come within a hair’s breadth of going under, is now going from strength to strength as it restructures.

Both companies have very little direct contact with the free online bingo industry, but their stories are noteworthy in that they both reflect the current issues being faced by the online gaming industry as a whole.

My point in highlighting these two divergent tales of corporate woe is that not all is as it seems.  Though IGH are facing their toughest test to date, they can take some comfort in the way Neteller seems to have beaten the odds and come out on top.

Written by John Witherspoon - Play bingo online at http://bingostreet.com/ and read bingo news.

This entry was posted on Wednesday, August 22nd, 2007 at 2:04 am and is filed under Online Bingo. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.