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Best of Vin Narayanan

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NETeller ready to focus on Europe, Asia

21 August 2007

NETeller announced Monday that it will be focusing on growth in Europe and Asia now that the investigation into its former U.S. operations has been settled.

"The settlement represents a certain outcome that enables the company to refocus its efforts on building and strengthening the NETELLER business outside of North America into the growing markets of the European and Asia Pacific regions," said NETeller Chairman Dale Johnson at the payment processor's annual meeting.

"While the year to date has been challenging for a number of reasons, the Group's business has performed satisfactorily," Johnson added. "The board looks forward to renewed growth and is optimistic about the prospects for the full year."

NETeller also said they have returned more than $71 million of the $94 million that had been frozen in U.S. accounts since January. The accounts were frozen until NETeller reached a deal with the U.S. Department of Justice last month that will allow the payment processor to avoid prosecution if it pays $136 million fine and admits to criminal wrongdoing in the processing of gambling proceeds.

NETeller ready to focus on Europe, Asia is republished from Online.CasinoCity.com.
Recent Articles
Best of Vin Narayanan
Vin Narayanan

Vin Narayanan is the managing editor at Casino City. When he's not writing or editing stories, he likes to play Chinese Poker, Badugi, Razz and any other "non-traditional" poker game. He also thinks blackjack is his best game and loves game theory.

Before joining Casino City, Vin covered (not all at the same time) sports, politics and elections, wars, technology, celebrities and the Census for USATODAY.com, USA WEEKEND and CNN.

A proud graduate of Michigan State University, Vin can be found on most nights and weekends trying to find a way to watch the Spartans play football or basketball.

Vin Narayanan
Vin Narayanan is the managing editor at Casino City. When he's not writing or editing stories, he likes to play Chinese Poker, Badugi, Razz and any other "non-traditional" poker game. He also thinks blackjack is his best game and loves game theory.

Before joining Casino City, Vin covered (not all at the same time) sports, politics and elections, wars, technology, celebrities and the Census for USATODAY.com, USA WEEKEND and CNN.

A proud graduate of Michigan State University, Vin can be found on most nights and weekends trying to find a way to watch the Spartans play football or basketball.