Politics

Bill to ban internet gambling passes House, PartyGaming stock hit hard

A US House of Representatives subcommittee on Wednesday approved a bill that would ban Internet gambling, estimated to be a $12 billion (6.5 billion pound) industry.  Previous attempts to pass such bills have encountered obstacles over the past few years and most experts believe the same will happen again. The bill also interferes with a decision ruled by the World Trade Organization in favor of the tiny Caribbean nation of Antigua that claimed US efforts to curb internet gambling have harmed their own lucrative online gaming industry.