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Why is Skrill Pulling out of Canada?
Wednesday December 11,2013 : WHY IS SKRILL PULLING OUT OF CANADA?
Does online e-cash processor Skrill, formerly Moneybookers, know something that everyone else does not? That's the question several industry observers were asking as the news broke this week that the European-based company is to pull out of Canadian transactions with effect from January next year.
Skrill, which was taken over by the private equity firm CVC Capital Partners earlier this year broke the news to Canadian online punters in an email, but failed to include cogent reasons for its decision, merely advising that it has "reviewed its operations," giving the exit date and saying merchant transactions would cease at the end of January 2014.
Player forums picked up on the news quickly, trying to figure out why Skrill would want to abandon a potentially lucrative market when there was no legal obstacle to its success.
Skrill has a service provider license from the New Jersey regulator in that rapidly growing new online gambling market, and that suggested to some commentators that the motivation for the exit may be related to the growing importance of the US state by state legalisation trend.
In related news, Playtech's Titan Poker presented Canadians with another conundrum this week; having announced recently that it would exit Canada on December 22 as part of the still-unexplained EuroPartners pull-out, the iPoker site tweeted that it was going to stick around and even offered new promotional bonuses.
Canadian players can be forgiven for being confused by these badly communicated corporate antics.
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
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