Neteller Posts Huge Loss in 2007.
March 17, 2008
The former e-wallet, once the best option for online poker players and their deposit needs, just posted huge losses for the fiscal year in 2007. How much to be exact?
Well, try $185.7 million.
Yikes! The payment processor’s executives blamed the large decline primarily on their withdrawal from the U.S. market. However, they also spent nearly $40 million on restructure efforts that included moving their base operations from Canada to the Isle of Man.
In January 2007, Neteller seized millions of dollars of United States’ citizens’ cash after the national government investigated the company and their involvement with helping poker players fund their accounts on their favorite poker sites. It is unclear whether Neteller will rebound from such huge losses….
Posted in General Poker News
