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By Any Other Name

Would a rose by any other name, smell as sweet? I reckon no, and that is precisely the situation with Neteller this week. Neteller announced just last month that the company was looking to get shareholder approval for changing the company’s name from Neteller to NEOVIA Financial plc – the name change is likely seen as a way to remove Neteller from the Stigma of last year’s negotiations and huge settlement with the US government for Neteller’s involvement in the US online casino gambling industry. Neteller was one of a handful of companies to remain in the US despite a ban on offshore online casinos and related companies – that decision nearly bankrupted the company and caused a good deal of negative reputation to hover around Neteller.

In the past year though since the settlement with the US over the online casino gambling debacle, Neteller has not only successfully recovered from huge fines and monetary losses, but the company is really beginning to grow a lucrative niche in the European and international markets based on strategic partnerships established over the past year. By switching the company’s name to NEOVIA Financial any remnants of the old reputation will be eradicated and the company will have something of a fresh start with European and international online casinos.

Neteller’s CEO and President, Ron Martin, just announced that the shareholders have approved the name change and that once fully confirmation has officially taken place, the company will release another announcement to that affect. More than likely Neteller will begin doing business under the new name by the beginning of the new year.