Neteller Profits Despite US Ban -- Online money transfer provider Neteller has reported a third quarter revenue gain of 48 percent, from $44.9 million to $66.7 million, despite the United States crackdown on Internet gambling. Pre-tax profits rose 24 percent to $32.5 million, with shares reaching 149 pence—a 5.1 percent increase. Despite the strong quarter, Neteller CEO Ron Martin warned that the U.S. legislation would "fundamentally" change the future direction and nature of the business, and that the company was "constantly reexamining and reviewing its position with regard to the U.S. market and its provision of services."
Merging? -- Reports have indicated preliminarily that online poker rooms Absolute Poker (AP) and Ultimate Bet (UB) will announce their official merger on Monday, with AP to buy out UB. The two sites continue to take U.S. money and are looking to consolidate liquidity levels after the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) was enacted on Oct. 13. As of today, neither company has commented on the merger.
Poison Ivy -- More than 800 employees of PartyGaming's India-based subsidiary Ivy Comptech fell victim to Party's "right sizing" initiative, reports The Asian Age. The move follows shortly after 888's Israel-based subsidiary Random Logic cut over 100 employees in late October. "The company is rightsizing its operations in order to go forward in the best shape in the current business scenario," Ivy Comptech spokesmen told the newspaper. "Over 50 percent of the [800 plus] employees have been told to leave with a financial package." Ivy Comptech is reportedly helping displaced employees to secure jobs with other IT companies that operate in and around its hometown, Hyderabad.
Critics can't Ground Airline -- Ryanair CEO Michael O'Leary has publicly defended his company after launching Jackpotjoy-powered bingo and other games on its booking Web site. Critics have been argued that the move will add to the already tempting I-gaming market, to which O'Leary responded: "We get the normal old harbingers of doom out there. This is more entertainment as opposed to gambling." O'Leary also deflected criticism about the possibility of underage gambling. "Young children don't have credit cards," he said. "They're not going to be gambling on Ryanair's Web site--it's for passengers."
Intertops off Billionth Hand -- Finnish online poker amateur Petteri S. etched his name into the 15-minute Parthenon (alongside other greats like I-gaming in Liberia, Cole Turner and the The Virgin Mary Grilled Cheese) as Intertops.com yesterday awarded him a cash prize for being dealt the site's billionth hand. "I never imagined I could win so big so quickly!" exclaimed S., or "T-Bone-Pete," as he goes by on the Intertops lounge. S. also received free entry to a $250,000 guaranteed tournament.