PartyGaming's Internet Gambling Fiasco With US Ending

7 May 2009

It looks as though a settlement for the internet gambling fiasco between the US and online casino PartyGaming is soon to be established. Issues between the company and the US first arose following the introduction of the unlawful Internet Gambling Enforcement Act (UIGEA), which occurred shortly after the release of the company's own PartyPoker to the US internet gambling market. Although PartyPoker withdrew from the market in the effort to maintain their stockprice on the London Stock Exchange, many still view Poker as a game not included in the UIGEA's laws.

Yet the heavy accusations made against PartyGaming were the result of one of the internet gambling site's original founders, Aurag Dikshit, pleading guilty to breaching internet gambling laws in the USA. Many were unconfident at the time about the company's belief that this would not affect the continuing negotiations between the site and the US. However, following the statement made by Jim Ryan, the newly appointed Chief Executive of PartyGaming, that "good progress" is being made towards closing in on a final decision, many are beginning to believe otherwise.

Ryan explicated to reporters that following the most recently held negotiations, the US will not be making any criminal please toward the internet gambling company, as well as any of its previous directors. Despite that Diskhit formerly agreed to pay a fine valued at $300 million for breaching the internet gambling laws. PartyGaming itself does not believe that it will be paying a sum even close to that figure. In fact, according to analysts, the company can expect to pay a fine closer to the 150 million dollar mark.

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