pennypincher44, World Gaming created software for internet gaming sites. Back around 2004, they bought Sportsbetting.com. They got a loan from Barclays bank to buy it. That made them an operator of an online gambling site and not just the software provider. Then the U.S. passes the UIGEA as a ride-along to the Safe Port Act of 2006.
Title VIII of the Act is also known as the Unlawful Internet Gambling Enforcement Act of 2006 (or UIGEA). This title (found at 31 U.S.C. § 5361–5367) prohibits the transfer of funds from a financial institution to an illegal Internet gambling site, specifically excluding fantasy sports, online lotteries, and horse/harness racing.
Since I'm not a lawyer I may use the wrong terms but this made their loan no good and the company unable to pay their bills (more or less). The company's BOD resigned and the company went into "administration" which in England is like bankruptcy. The administrators to this sold off their software and their assets and the company went out of business (as far as I know).
World gaming was traded on the OTCBB and the AIM (One of England's stock exchanges). After the administration, they were taken off the AIM and trading halted on the OTCBB. This OTCBB stock quote is the one you see as 13 cents. The other quote that trades as WGMGY.pk is basically a shell company. As far as I know there is no company. I'm hoping that some other company uses it as a shell company. Many lost millions of dollars on WGMGY. They were just emerging as a strong company when the UIGEA passes with the Port Bill. Then everything collapsed within a week. There is a company that uses their old web address worldgaming.com but it's a computer game site in which people can play games against each other (I don't know if they play for money or not). I think this company is private.
That's probably not the best explanation but it's a rough summary.
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