IGH crisis deepens - Online Bingo News

Following its suspension from trading on the London AIM market this week, sports betting company Interactive Gaming Holdings (IGH) have informed the London Stock Exchange that directors Mitchell Petchenik and Robert Spriddell have resigned effective immediately.

A statement by IGH Eecutive Cairman and founder Thomas Taule also confirmed the resignations and that the company is no longer taking bets on its Heathorns and Premierbet sites.  The situation remains unclear at IHG pending the clarification the company’s attempts to secure future funding for its operations.

"The company is continuing its discussions with General Capital Venture Finance Limited and another potential funder," Taule said in the statement. "Mitchell Petchenik and Robert Spriddell have both resigned, as Executive Vice President and Non-Executive Director respectively, with immediate effect.

"Arbuthnot Securities Limited has resigned as the company's Nominated Adviser and Broker with immediate effect."

News of the company’s disastrous financial situation first came to the attention of online bingo industry watchers and online bingo hall opearators recently when a move by the company to the Malta jursidcition proved unsettling for the company’s operations.  Though IGH has little to do with bingo online directly, its current financial difficulties are noteworthy in that they may reflect a widening crisis in the online gambling industry in general.

Mr Taule has said IGH will keep interested parties informed with further announcements as and when appropriate.

Written by John Witherspoon - Play bingo online at http://www.mybingostreet.com/ and read celebrity gossip.