FireOne, a provider of payment processing services for the online casino industry has announced that it is giving up on gambling, once President George Bush signs it in to law and bans payments for the online casinos. Since FireOne has made the announcemt, two more online casino related companies have also closed thier doors to the US gambling market- Leisure & Gaming PLC and Fairground Gaming Holdings.

FireOne officials had this to say at the London Stock market: "The Company today announces that following the approval by the president, it will immediately cease to process settlement transactions originating from United States consumers that may be viewed as being related to online gambling. The Company will continue to offer its multi-currency credit and debit card and FirePay electronic wallet processing to the online gambling industry originating from non-U.S. consumers and not prohibited by the Act, and will consider additional card-not-present payment processing opportunities outside of online gambling."

The company also recently announced its results for the second quarter and half year ended 30 June 2006. Revenue at the company had increased by 42% to $24.8 million in the second quarter of 2006, and by 54% over the first half of 2005 to $50.0 million in the first half of 2006. Gross profit, defined as revenue less transaction processing costs, improved as a percentage of revenues to 67.3% in the second quarter of 2006 from 58.9% in the second quarter of 2005. For the first half of 2006, gross profit improved to 65.8% from 58.5% in the first half of 2005.