Leading online gaming operators have announced their exits from the US market following the passing the Unlawful Internet Gambling Enforcement Act 2006 by the US Senate last Friday, September 29.

In a statement to the London Stock Exchange this morning, PartyGaming said: “If the President signs the Act into law, the company will suspend all real money gaming business with US residents, and such suspension will continue indefinitely.”

Casino and poker operator 888 said the Act represented “a significant development in the US legal status. In the light of these considerations the board has concluded that it is appropriate to suspend participation by US-based customers in activities covered by the legislation”. They added that the growth from its non-US revenues and would cover all refunds to US customers.

Sportingbet said that should its “non-US international banking partners to determine that the Act applied to them, then Sportingbet would no longer be able to take deposits from US residents.”

Payment processor Neteller said the Act may have “a material adverse effect on its US-facing business. Once the company has more information what the regulations will stipulate, it will have a clearer view which companies are affected, how those companies will be expected to comply.”

FireOne issued a statement saying the Act did not “define ‘unlawful internet gambling’ nor does it make unlawful any activities by financial institutions that are not themselves gambling businesses”.

Share prices across the sector have been hit dramatically and many leading gaming comapanies losing up to 60% of their value on the London Stock Exchange.