Online Gambling takes huge hit with new legislation

Over the weekend, Congress passed legislation prohibiting the use of credit cards, checks and electronic fund transfers for online gaming (as part of a package of port security measures — hey, it’s Congress), and British gambling companies have been taken out back and beaten silly. PartyGaming PLC, the world’s biggest online gambling company, saw its stock price drop 60 percent since the market opened Monday, knocking a tidy $4 billion off its valuation

Source: SiliconValley.Com