Saturday, July 13, 2002

PayPal to Drop Online Gaming

"On Monday, PayPal announced that it was being acquired by eBay for about $1.5 billion in stock. eBay said that after the acquisition, PayPal will exit the online gaming business.

"We are making preparations in order to be able to fulfill the announcement that we will cease those transactions in connection with closure (of the deal)," PayPal spokesman Vince Sollitto said.

Last month, under pressure from New York Attorney General Eliot Spitzer, Citibank, the biggest issuer of credit cards, agreed to block the use of those cards on online gaming sites."

It seems that if you can't gamble online in NY no one will.

http://news.com.com/2100-1017-943533.html?legacy=cnet&tag=pt.rss..feed.ne_20139578
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