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Vin Narayanan

Vin  Narayanan
Vin Narayanan is the former managing editor at Casino City and has been involved in the gaming industry for over a decade Vin is currently based in Hong Kong, where he runs his own consultant group and works as head of gaming and public relations for Mega Digital Entertainment Group.

Before joining Casino City, Vin covered (not all at the same time) sports, politics and elections, wars, technology, celebrities and the Census for USATODAY.com, USA WEEKEND and CNN.

More about Vin Narayanan
More articles by Vin Narayanan

 

NETeller ready to focus on Europe, Asia

21 Aug 2007

By Vin Narayanan

NETeller announced Monday that it will be focusing on growth in Europe and Asia now that the investigation into its former U.S. operations has been settled.

"The settlement represents a certain outcome that enables the company to refocus its efforts on building and strengthening the NETELLER business outside of North America into the growing markets of the European and Asia Pacific regions," said NETeller Chairman Dale Johnson at the payment processor's annual meeting.

"While the year to date has been challenging for a number of reasons, the Group's business has performed satisfactorily," Johnson added. "The board looks forward to renewed growth and is optimistic about the prospects for the full year."

NETeller also said they have returned more than $71 million of the $94 million that had been frozen in U.S. accounts since January. The accounts were frozen until NETeller reached a deal with the U.S. Department of Justice last month that will allow the payment processor to avoid prosecution if it pays $136 million fine and admits to criminal wrongdoing in the processing of gambling proceeds.

 
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