to buy back outstanding shares of online gambling payment
The outstanding shares of FireOne Group, the
company operating the online casino e-wallet FirePay, will be
bought back by Optimal Group. Optimal, which was the company
that listed the shares of FireOne on London's Alternative
Investment Market and currently retains 74% of their shares, has
publicly announced their intentions to buy back any outstanding.
Shares of FireOne crashed,
pluming down more than 3 times the day after the Unlawful
Internet Gambling Enforcement Act was passed by the US Congress
and now trade at around 53.5p
FirePay pulled out of the US
market after the UIGEA was passed, and according to their
independent committee - the only way they can deliver some
return to their shareholder is by a sale of the business.