Intabil Wigs Out

Intabill is in hot Australian water right now, since the online electronic payment processing company is in severe debt. The company has failed to pay over $30 million to its creditors, and among the debt is over $4 million in funds owed to four of the country’s major online slots casino brands that use it. This is only the latest in a string of negative reports that show the company is on the rocks, since the fact that the company can’t actually do what it it has been purposed for is only a symptom of much more severe and longstanding problems in operations within the skeletons of the company.

Intabill is well known in the country since Australians have already jumped on the online slots train, and it is a standard method of payment transactions, which is very similar to PayPal in the US in  terms of money changing hands. What is most interesting to note perhaps, is the big public relations storm the company had a little over a year ago, with news of its hot on the scene 24 year old entrepreneur, who was at the helm of such a cash cow.

In recent months the company has been showing signs of its decline, from a flurry of layoffs, which the company attributed to the recession, to rumors of debt and instability. The online slots casino industry has been affected by this since the instability of the services they use ultimately reflect negatively on the industry and translate into lost money for the companies involved. Full Tilt Poker and Poker Stars are among the online casinos affected by the company’s negative behavior, and will be doing some damage control in the upcoming weeks.

Back to June 2009 Archive.