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Industry News

by Brendan Murray |  Published: Aug 01, 2009


Payment Processor Owes Poker Companies Millions According to a report in May on Australian website, Intabill, which at one time was said to be one of the world’s top 10 online payment processors, is now in major debt — 50 percent of which relates to online gambling. In total, Intabill owes four online poker sites an amount in the region of $30 million. The largest portion is owed to PokerStars and Full Tilt (about $25 million), and the rest to Absolute Poker and Golden Palace. The online funds were processed using an intermediary company — independent business, Impact. It has been said that Impact pulled out due to the worrying trend of debt. In April, Intabill’s staff numbers took a dramatic cut, with owner Daniel Tzvetkoff blaming the economic crisis. He also waved goodbye to many of his cars including his Lamborghini, is selling his Gold Coast apartment and ...

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