 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! |
Gaming News
PayPal to Pay $200,000 Fine, Block Online Gambling Transactions21 August 2002NEW YORK – As reported by Reuters: "PayPal, the electronic payment service, has agreed to block online gambling merchants from using its transaction system and pay a $200,000 penalty, the New York State Attorney General's office said on Wednesday. "PayPal (PYPL.O) , which Internet auctioneer eBay Inc. (EBAY.O) plans to acquire, was the subject of a probe by the office of N.Y. Attorney General Elliot Spitzer for allowing gambling companies to take money from New York gamblers. "Under the settlement, PayPal will not process payments from New York customers to Internet casino Web sites as of September 1, and will pay $200,000 to New York state in disgorged profits, investigation costs and penalties, his office said. To read the rest of this article, please click here. |