PartyGaming
Close to Online Gambling Settlement With US
June 2 - One of the world's most popular online gambling
operators, PartyGaming PLC, is reportedly close to finalising an expensive settlement deal with the US
Department of Justice, in order to free it from the Department's scrutiny
following breaching American anti-online gambling laws.
When the United States passed its Unlawful Internet Gambling Enforcement Act (UIGEA)
in 2006, effectively banning online gambling in the country, many online
gambling firms continued to attract US players and were, as a result, targeted by
the US Justice Department, PartyGaming included.
PartyGaming has been targeted by the US Justice Department for the
last two years, which has been seeking 'compensation' from the large online gambling
firm for still 'illegally' accepting bets from US players, even though the
gambling powerhouse was never based in the United States.
The settlement is expected to reach close to $1 billion, which is considered extreme, particularly
since the amount would be
40 times what the United States paid to the online gambling-friendly
jurisdiction of Antigua and Barbuda, for violating World Trade Organization (WTO)
agreements.
However, PartyGaming executive are eager to pay the settlement so that they can
reassure their antsy shareholders that their 'issues' with the US government are
finally behind them, and also so that they can stop 'looking over their
shoulders' whenever they visit the US, risking arrest by authorities.
PartyGaming operates
PartyPoker, one of the most widely
frequented online poker rooms in operation today. Read our
PartyPoker mini-review.
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