Credit Cards May Default on

Credit Cards May Default on Gaming: E-gaming companies (that is, Internet gambling casinos etc., NOT network gaming) could see their growth potential cut in half over the next year as major banks refuse to accept online gaming-related transactions, according to a new study by Bear Stearns. Growth rates in the industry could be sliced in 2003 from 43 percent to 20 percent, or to roughly $4.2 billion in total industry-wide revenues. “These moves by banks, as well as an unprecedented amount of negative sentiment toward the Internet gaming industry on both a state and federal level, could have several implications for the fast-growing e- gaming sector.”

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