[彭蒙惠英语] 新闻剪辑 (3)
NEWS
March 14, 2007.Wednesday
NEWSworthy Clips
New legislation may pull the plug on online gambling
The $12 million online gambling industry could turn into a house of cards now that the Congress of the United States has passed a law banning the use of credit cards, checks and electronic fund transfers for Internet gaming, industry experts say.
The law is called the Unlawful Internet Gambling Enforcement Act, and it makes it illegal for banks, credit card companies and online payment systems to process payment to online gambling companies.
The surprise passage of the law threw the online gambling industry into a tailspin.Shares of publicly traded gambling companies tumbled on the London Stock Exchange,
wiping out nearly $8 billion in market value. PartyGaming, the world's largest online-gambling company, said it would stop taking bets from 920,000 active U.S. customers.
"This development is a significant setback for our company, our shareholders.our players and our industry," said Mitch Garber, PartyGaming's CEO.
The federal government has been cracking down on Internet betting on sports, poker and other casino games that it considers illegal. Considering that American bettors generate 50 to 60 percent of industry revenue, many operators will be forced to either go out of business or merge with another provider, experts say.
Roughly half the estimated 500 companies operating 2,300 gambling sites will need to shut down, predicts Sue Schneider, publisher of Interactive Gaming News. The survivors will have to make do on sharply reduced revenue, while seeking ways around the U.S. ban and building up their business in Asia.
Some critics of the new law say that the companies eliminated in the shakeout are more likely to be publicly traded operators that answer to regulators. "This legislation will drive away larger, more reputatble gaming operators, leaving consumers with less reliable options," claimed Ken Dreifach, an Internet lawyer. "That could expose consumers to more fraudulent operators," he said.
Vocabulary Focus
pull the plug (idiom)--- to do something which prevents an activity from continuing, especially to stop giving money
throw into a tailspin (idiom)--- to cause something to go into a rapid and uncontrollable descent
make do (idiom)--- to manage by using what is available, even though it is not enough or what you originally wanted
fraudulent (adj)--- dishonest and illegal
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Specialized Terms
house of cards (idiom)--- 不堪一击的庞杂组织或计划 a complicated organization or plan that is very weak and can easily be destroyed or go wrong
shakeout (n)--- 产业巨变；萧条 a situation in which people lose their jobs, or companies stop doing business, because of economic difficulties
