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As the online casinos industry started to come to terms with the prospect of no more PayPal by year's end, new competitors started to jostle for the significant opportunity that this presents.Shock of the week was the announcement by Cryptologic that CEO Jean Noulting had resigned with the approval of the Board. As we went to press there was no information on Noulting's future direction.

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Among them was Pacific Nakon, which announced that it is working with eConnect to mass launch the eCashPad in conjunction with the ICasino Pay software to meet the needs of an estimated 6,000 Internet best Online Casino for online cash facilities. Merlin 2 and ePos2 software also acquired by eConnect will interface with ICasino Pay, support prepaid card usage, and enable Internet casino customers to move their winnings to a private label debit card for usage outside of the Internet. Home eCashPad users will be able to either use their prepaid card or an eCheck loaded eCashCard to effect cash payments at the Internet casinos.

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the casino revenue company used the press release to announce the appointment of accountant casinos as the Company's Interim President and CEO. Although largely unknown in the internet gambling industry, the online casino manager is reported to be a results-driven executive with two decades of experience in the consumer product, entertainment and financial services sectors.

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Earlier this week, the online payments company PayPal received a subpoena from the attorney general of New York asking the company for documents related to its processing of online gambling transactions.PayPal said in a filing with the Securities and Exchange Commission that the attorney general has not filed any legal action against PayPal, but the subpoena will be used to determine whether New York should take action against the company.


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