Washington Post Responds To PartyGaming Settlement, by Earl Burton - Poker News Daily - 9th April 2009
After the announcement Tuesday of the settlement between PartyGaming PLC and the United States Attorneys Office, the Washington Post followed up on its 2008 two day investigation into online poker with a response.
Headed by Gilbert M. Gaul - who investigated the scandals of Absolute Poker and Ultimate Bet in cooperation with the CBS newsmagazine “60 Minutes” in late 2008 - the Washington Post article delved into some of the ramifications that the settlement could have for the online poker world. Gaul’s article states that the settlement is “…a development that could signal a shift in the murky and unregulated world of online gambling.”
The settlement between PartyGaming and the U. S. attorneys in New York calls for a fine of $105 million to be paid by the company over the next 3 ½ years. Along with the payment of the fine, PartyGaming also admits to violating what the Post article calls “a disconnect between 21st century technology and the 20th century laws used to protect Americans from gambling” through violations of the Unlawful Internet Gaming Enforcement Act (UIGEA), which was enacted in late 2006. Under the terms of the “Statement of Facts” agreement with U. S. representatives, PartyGaming officials said the government would not prosecute the parent firm or any of its subsidiaries for offering Internet gambling services to U.S. customers between 1997 and October 2006, when it voluntarily withdrew from the market after the UIGEA enactment.
In the Post article, Gaul states that “The (Department of) Justice’s position is considered controversial with some members of Congress and gaming analysts, arguing it has steered U. S. players to unregulated offshore sites.” Along with this statement, Gaul includes a quotation from Joseph M. Kelley, a professor of business law at the State College at Buffalo. “The U. S. government has now succeeded in driving out the reputable, publicly-traded Internet gaming operators,” he proposed. Kelley, who has also served as an expert witness for gaming and government interests, added: “It has not decreased online gambling, but has reduced the ability to monitor suspicious transactions.”
The stock of many of the publicly traded online gaming companies on the London Stock Market rose after the settlement announcement. Gaul believes it is because “some financial analysts see the settlement as possibly leading to others, thus reducing uncertainty in the industry and opening the door to industry consolidation and expansion outside the U.S. Some analysts said PartyGaming also had now increased its chances of gaining a license from any future regulated U.S online gaming market.”
While the dust hasn’t settled regarding the agreement of PartyGaming and the U. S. government, Gaul’s Washington Post article does point out many of the advantages of such settlements for the online gaming world. For a full look at Mr. Gaul’s outlook on the settlement, view his article at the Washington Post. (Credit: Poker News Daily)
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Friday, April 10, 2009
PKR Launches New Software Upgrade, by Brett Collson - Poker News Daily - 9th April 2009
Imaginative poker site PKR has launched an array of new features and games to its award-winning software.
The online poker room, which features real-time 3D graphics and a videogame experience, added Omaha Hi/Lo to its most recent upgrade, as well as several other features and items in the PKR Shop. The popular Omaha Hi/Lo Pot Limit and Limit options will now be available across cash games, Sit & Gos and Multi-table Tournaments.
PKR has also added Mini Roulette to its online casino, joining Blackjack and Casino Hold’em on the site’s table game roster. Mini Roulette is just like American or European Roulette only with fewer numbers. PKR also offers Craps, Sic Bo and Wild Viking among its wide variety of casino games.
A new “time bank” feature has been added to the poker software to give players additional time if needed to make a critical decision. In cash games, the more hands you are dealt means more time added to your bank -- up to the table maximum -- while in tournament play the additional time allotted to each player is fixed. In addition, PKR has added a “Break Skip” option so that players can opt out of regular breaks at the final table of a Multi-table Tournament. If all players decide to skip their break then the action will continue right away.
PKR’s Shop has also taken a step up. Players will be able to spend their PKR points on a wide range of high-end electronics as well as new poker books, accessories and subscriptions to PKR.com’s partner training site Bluefire Poker, hosted by high-stakes legend and World Series of Poker bracelet winner Phil Galfond. In tournaments, players receive 100 PKR points for every $1 spent in entry fees. At cash tables, points are awarded based on raked hands and calculated against the amount that a player has put into the pot divided between the other players at the table.
“Our community is highly valued and as we grow we like to make sure we provide our players with exactly what they need”, said PKR Marketing Director Simon Prodger. “Many of the features in our updates are in response to popular demand and we are constantly working on improvements for the future.” (Credit: Poker News Daily)
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Imaginative poker site PKR has launched an array of new features and games to its award-winning software.
The online poker room, which features real-time 3D graphics and a videogame experience, added Omaha Hi/Lo to its most recent upgrade, as well as several other features and items in the PKR Shop. The popular Omaha Hi/Lo Pot Limit and Limit options will now be available across cash games, Sit & Gos and Multi-table Tournaments.
PKR has also added Mini Roulette to its online casino, joining Blackjack and Casino Hold’em on the site’s table game roster. Mini Roulette is just like American or European Roulette only with fewer numbers. PKR also offers Craps, Sic Bo and Wild Viking among its wide variety of casino games.
A new “time bank” feature has been added to the poker software to give players additional time if needed to make a critical decision. In cash games, the more hands you are dealt means more time added to your bank -- up to the table maximum -- while in tournament play the additional time allotted to each player is fixed. In addition, PKR has added a “Break Skip” option so that players can opt out of regular breaks at the final table of a Multi-table Tournament. If all players decide to skip their break then the action will continue right away.
PKR’s Shop has also taken a step up. Players will be able to spend their PKR points on a wide range of high-end electronics as well as new poker books, accessories and subscriptions to PKR.com’s partner training site Bluefire Poker, hosted by high-stakes legend and World Series of Poker bracelet winner Phil Galfond. In tournaments, players receive 100 PKR points for every $1 spent in entry fees. At cash tables, points are awarded based on raked hands and calculated against the amount that a player has put into the pot divided between the other players at the table.
“Our community is highly valued and as we grow we like to make sure we provide our players with exactly what they need”, said PKR Marketing Director Simon Prodger. “Many of the features in our updates are in response to popular demand and we are constantly working on improvements for the future.” (Credit: Poker News Daily)
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London Lad Strikes It Lucky!
London, 6th April, 2009 – Following the success of last year’s poker festival in the city, Virgin Poker held its second Newcastle poker event at Aspers Casino over the weekend. Over 200 poker enthusiasts took part in the exciting two-day live tournament setting sights on the impressive prize pot of over £30,000.
Having won a place at the tournament via a €150 buy-in at Virgin Poker, players at the main event took part in a Texas Hold’em No Limit Freezeout extravaganza to compete for their share of the prize pot. Ross Javis, London based journalist who writes for Poker Player magazine was the chip leader as he entered the final table and maintained his lead throughout the final leg securing him the Virgin Poker festival title and the impressive top prize of £7,000. Kris McLackland from Newcastle put up a good fight and walked away with second place prize money of £5,500.
To add a Virgin twist to the tournament, players in the main event were given the chance to knock-out professional poker opponents whose heads carried bounties of fantastic Virgin giveaways. Prizes included Virgin Rally Driving Days & Virgin Hot Air Ballooning.
For those not lucky enough to win a seat in the main tournament, there were a variety of side events on offer to give everyone the opportunity to get involved - regardless of their poker playing abilities. Practice tables offered ‘live play classes’ for less experienced players, whilst a Wii bowling battle for those who still wanted to prove their competitive streak.
Joe Legge, Poker Manager for Virgin Games Poker, said: “It was great to return to Aspers Casino for a second time and bring the fun of the Virgin Games experience to the people of Newcastle. Local residents, poker professionals and the Virgin Games staff entered into the spirit of the weekend and dressed to impress – outfits included, Newcastle football strip, a Las Vegas show girl and another wore a horse’s head to celebrate the Grand National. It’s all slightly crazy but all part of the fun and what makes the festivals such a great experience!’
For further images and information on the Virgin Poker Festivals visit http://www.virgingames.com/poker/festival.aspx
- Ends -
Main Event – Winners
Place Prize Winner
1st £7,000 Ross Jarvis
2nd £5,500 Kris McLackland
3rd £4,000 Andy Edgington
4th £3,000 Brian Clarke
5th £2,500 Richard Potts
6th £2,000 John Crawford
7th £1,500 Krzysztof Zawierucha
8th £1,000 Dave O’Connor
9th £750 Glenn Hopley
10th £400 Simon Kinnaird
Player Bounties - Winners
Player Bounty Winner
Maria Demetriou Guaranteed Entry to a £100K Tourney on Kris MaLackland
Virgingames.com/poker
Shelley Rubenstein Guaranteed Entry to a £100K Tourney on Anthony Cross
Virgingames.com/poker
Kara Scott £150 Virgin Voucher The Mole Nick Kris MaLackland
Wealthall £150 Virgin Voucher
About Virgin Games
Virgin Games, a subsidiary of Virgin.com Ltd, launched in June 2004 and has quickly established itself as one of the leading gaming websites in the UK. Virgin Games comprises three distinct entertainment offerings, giving consumers the chance to play their favourite online games the Virgin way:
• Virgin Casino, part of the Wagerworks network, provides a taste of Vegas online, with classic casino offerings like blackjack and roulette, as well as popular feature slots like Elvis, Cleopatra and Vegas, Baby!
• Virgin Poker, part of the Boss Media network, offers a huge array of games and content for beginners through to experienced pros – as well as the most generous loyalty scheme in the industry. The successful Virgin Poker Festivals, which take place in casinos around the UK throughout the year, now allow gamers to experience the fun of Virgin Poker offline too
• Virgin Bingo, part of the St Minver network, offers cash prizes worth thousands of pounds in the progressive jackpots, as well as regular promotions and an unrivalled loyalty scheme
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London, 6th April, 2009 – Following the success of last year’s poker festival in the city, Virgin Poker held its second Newcastle poker event at Aspers Casino over the weekend. Over 200 poker enthusiasts took part in the exciting two-day live tournament setting sights on the impressive prize pot of over £30,000.
Having won a place at the tournament via a €150 buy-in at Virgin Poker, players at the main event took part in a Texas Hold’em No Limit Freezeout extravaganza to compete for their share of the prize pot. Ross Javis, London based journalist who writes for Poker Player magazine was the chip leader as he entered the final table and maintained his lead throughout the final leg securing him the Virgin Poker festival title and the impressive top prize of £7,000. Kris McLackland from Newcastle put up a good fight and walked away with second place prize money of £5,500.
To add a Virgin twist to the tournament, players in the main event were given the chance to knock-out professional poker opponents whose heads carried bounties of fantastic Virgin giveaways. Prizes included Virgin Rally Driving Days & Virgin Hot Air Ballooning.
For those not lucky enough to win a seat in the main tournament, there were a variety of side events on offer to give everyone the opportunity to get involved - regardless of their poker playing abilities. Practice tables offered ‘live play classes’ for less experienced players, whilst a Wii bowling battle for those who still wanted to prove their competitive streak.
Joe Legge, Poker Manager for Virgin Games Poker, said: “It was great to return to Aspers Casino for a second time and bring the fun of the Virgin Games experience to the people of Newcastle. Local residents, poker professionals and the Virgin Games staff entered into the spirit of the weekend and dressed to impress – outfits included, Newcastle football strip, a Las Vegas show girl and another wore a horse’s head to celebrate the Grand National. It’s all slightly crazy but all part of the fun and what makes the festivals such a great experience!’
For further images and information on the Virgin Poker Festivals visit http://www.virgingames.com/poker/festival.aspx
- Ends -
Main Event – Winners
Place Prize Winner
1st £7,000 Ross Jarvis
2nd £5,500 Kris McLackland
3rd £4,000 Andy Edgington
4th £3,000 Brian Clarke
5th £2,500 Richard Potts
6th £2,000 John Crawford
7th £1,500 Krzysztof Zawierucha
8th £1,000 Dave O’Connor
9th £750 Glenn Hopley
10th £400 Simon Kinnaird
Player Bounties - Winners
Player Bounty Winner
Maria Demetriou Guaranteed Entry to a £100K Tourney on Kris MaLackland
Virgingames.com/poker
Shelley Rubenstein Guaranteed Entry to a £100K Tourney on Anthony Cross
Virgingames.com/poker
Kara Scott £150 Virgin Voucher The Mole Nick Kris MaLackland
Wealthall £150 Virgin Voucher
About Virgin Games
Virgin Games, a subsidiary of Virgin.com Ltd, launched in June 2004 and has quickly established itself as one of the leading gaming websites in the UK. Virgin Games comprises three distinct entertainment offerings, giving consumers the chance to play their favourite online games the Virgin way:
• Virgin Casino, part of the Wagerworks network, provides a taste of Vegas online, with classic casino offerings like blackjack and roulette, as well as popular feature slots like Elvis, Cleopatra and Vegas, Baby!
• Virgin Poker, part of the Boss Media network, offers a huge array of games and content for beginners through to experienced pros – as well as the most generous loyalty scheme in the industry. The successful Virgin Poker Festivals, which take place in casinos around the UK throughout the year, now allow gamers to experience the fun of Virgin Poker offline too
• Virgin Bingo, part of the St Minver network, offers cash prizes worth thousands of pounds in the progressive jackpots, as well as regular promotions and an unrivalled loyalty scheme
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Thursday, April 09, 2009
Joint venture with Intralot announced
April 8, 2009 (CAP Newswire) -- Apparently unrelated to yesterday’s story that PartyGaming has agreed to settle with the U.S. Department of Justice comes the news that the company also has plans to expand into the currently red-hot Italian market in the very near future.
The expansion will be in partnership with Intralot, a Greek lottery systems provider. The two companies are hinting that, if the Italian venture proves successful, they will attempt to enter into more overseas deals in the coming months, as well.
“Intralot is the first member of PartyGaming's poker network in Italy and will promote the new service through its retail network, which includes 600 betting outlets,” reported Reuters news service this week.
"This is our third business-to-business deal in 2009 and we are confident of continuing to build our portfolio over the coming months," PartyGaming Chief Executive Jim Ryan commented in the Reuters article.
Click here to read the coverage on Reuters.
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April 8, 2009 (CAP Newswire) -- Apparently unrelated to yesterday’s story that PartyGaming has agreed to settle with the U.S. Department of Justice comes the news that the company also has plans to expand into the currently red-hot Italian market in the very near future.
The expansion will be in partnership with Intralot, a Greek lottery systems provider. The two companies are hinting that, if the Italian venture proves successful, they will attempt to enter into more overseas deals in the coming months, as well.
“Intralot is the first member of PartyGaming's poker network in Italy and will promote the new service through its retail network, which includes 600 betting outlets,” reported Reuters news service this week.
"This is our third business-to-business deal in 2009 and we are confident of continuing to build our portfolio over the coming months," PartyGaming Chief Executive Jim Ryan commented in the Reuters article.
Click here to read the coverage on Reuters.
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Debate Over Impact of PartyGaming Settlement
Whether ultimately good or bad for the industry and for PartyGaming, yesterday's settlement is bringing a great deal of attention to the legal status of online gaming in the United States
April 8, 2009 (CAP Newswire) -- Yesterday’s announcement that PartyGaming has settled with U.S. prosecutors over its online gaming activities in the United States has been greeted with a flurry of coverage in some high-profile media outlets.
Even though some in the iGaming industry are apparently unhappy that PartyGaming is relenting under what seems to be biased and unfair persecution by the U.S., the general consensus has been markedly positive.
As reported yesterday, the immediate point of interest was a sharp rise in shares for the U.K.-based gaming company, as well as for other gaming companies. PartyGaming’s shares “soared more than 15 percent,” according to the Associated Press. There's also a great deal of speculation that a wave of mergers and consolidation will be forthcoming, finally allowed by the resolution of this long-standing thorn in the industry’s side.
“That's because some financial analysts see the settlement as possibly leading to others,” writes Gilbert Gaul in the Washington Post, “thus reducing uncertainty in the industry and opening the door to industry consolidation and expansion outside the U.S.”
“[The settlement] does remove a big uncertainty,” agrees Jeremy Warner in the U.K.’s Independent magazine, “which ought in time to allow renewed access to equity and debt markets so the company can begin the process of consolidating this still-fragmented industry.”
The settlement is also being greeted as good news by many analysts because it allows PartyGaming to escape criminal prosecution, and because the sum that was negotiated is lower than many analysts had predicted. (The fee is $105 million, to be paid out in installments through September 2012.)
“The settlement covers the period from 1997 to October 2006, when PartyGaming offered internet gaming to US players, including real-money poker and casino gaming,” writes Chris Tryhorn and Julia Kollewe in today’s online edition of the U.K.’s Guardian newspaper. “The company admitted that even before the 2006 crackdown -- which forced it to abandon the US market -- some of its activities had broken US law.”
"Prior to 13 October 2006, certain of the US customer transactions intended for PartyGaming that were processed by third parties, and other gaming and payment-related activity, were contrary to certain US laws," PartyGaming representatives said in a statement published at the Guardian.
In his Independent column, Jeremy Warner goes on to conclude that the settlement can also benefit PartyGaming by creating a positive relationship with the U.S. in case online gambling is ever legalized there. “This is not altogether impossible at some stage in the next few years,” he writes. “In the search for new sources of income, some of the big physical gaming groups in the US are dropping their objections to the genre. Some privately owned poker sites, such as Full Tilt Poker and PokerStars, still operate illegally in the US, and as a result have cleaned up in the online poker market.”
The U.S. market, though off-limits at the moment, still represents the world’s largest and most enthusiastic group of poker players. According to the AP, the U.S. accounted for 80 percent of PartyGaming’s revenue before it was forced to leave the market.
Finally, amid the wave of positive reactions, there is some frustration about an industry leader of PartyGaming’s stature admitting to breaking laws that are vague, confusing, and seemingly haphazardly applied. After all, the settlement essentially amounts to admission that the company committed bank fraud, writes Roger Blitz at the Financial Times, who also hints that the financial results may not be as positive as initial reports indicate.
The Washington Post’s Gilbert Gaul also takes a more skeptical view: “Prior to the enactment of the Unlawful Internet Gambling Enforcement Act in October 2006, PartyGaming operated one of the largest and most active Internet poker sites in the U.S. The company immediately withdrew from the U.S. market and stopped accepting U.S. players, which caused a dive in its earnings and stock price. Nevertheless Justice Department prosecutors continued to consider charges against the company for targeting U.S. players before 2006, contending that previous laws also outlawed Internet gambling.”
The Washington Post article also features some helpful analysis on the state of the anti-UIGEA movement in the U.S.; click here to read it. The Financial Times article can be found here, and the Guardian article can be found here. Click here to read Jeremy Warner’s article in the Independent, and, last but not least, the Associated Press coverage can be viewed via the Forbes website, here
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Whether ultimately good or bad for the industry and for PartyGaming, yesterday's settlement is bringing a great deal of attention to the legal status of online gaming in the United States
April 8, 2009 (CAP Newswire) -- Yesterday’s announcement that PartyGaming has settled with U.S. prosecutors over its online gaming activities in the United States has been greeted with a flurry of coverage in some high-profile media outlets.
Even though some in the iGaming industry are apparently unhappy that PartyGaming is relenting under what seems to be biased and unfair persecution by the U.S., the general consensus has been markedly positive.
As reported yesterday, the immediate point of interest was a sharp rise in shares for the U.K.-based gaming company, as well as for other gaming companies. PartyGaming’s shares “soared more than 15 percent,” according to the Associated Press. There's also a great deal of speculation that a wave of mergers and consolidation will be forthcoming, finally allowed by the resolution of this long-standing thorn in the industry’s side.
“That's because some financial analysts see the settlement as possibly leading to others,” writes Gilbert Gaul in the Washington Post, “thus reducing uncertainty in the industry and opening the door to industry consolidation and expansion outside the U.S.”
“[The settlement] does remove a big uncertainty,” agrees Jeremy Warner in the U.K.’s Independent magazine, “which ought in time to allow renewed access to equity and debt markets so the company can begin the process of consolidating this still-fragmented industry.”
The settlement is also being greeted as good news by many analysts because it allows PartyGaming to escape criminal prosecution, and because the sum that was negotiated is lower than many analysts had predicted. (The fee is $105 million, to be paid out in installments through September 2012.)
“The settlement covers the period from 1997 to October 2006, when PartyGaming offered internet gaming to US players, including real-money poker and casino gaming,” writes Chris Tryhorn and Julia Kollewe in today’s online edition of the U.K.’s Guardian newspaper. “The company admitted that even before the 2006 crackdown -- which forced it to abandon the US market -- some of its activities had broken US law.”
"Prior to 13 October 2006, certain of the US customer transactions intended for PartyGaming that were processed by third parties, and other gaming and payment-related activity, were contrary to certain US laws," PartyGaming representatives said in a statement published at the Guardian.
In his Independent column, Jeremy Warner goes on to conclude that the settlement can also benefit PartyGaming by creating a positive relationship with the U.S. in case online gambling is ever legalized there. “This is not altogether impossible at some stage in the next few years,” he writes. “In the search for new sources of income, some of the big physical gaming groups in the US are dropping their objections to the genre. Some privately owned poker sites, such as Full Tilt Poker and PokerStars, still operate illegally in the US, and as a result have cleaned up in the online poker market.”
The U.S. market, though off-limits at the moment, still represents the world’s largest and most enthusiastic group of poker players. According to the AP, the U.S. accounted for 80 percent of PartyGaming’s revenue before it was forced to leave the market.
Finally, amid the wave of positive reactions, there is some frustration about an industry leader of PartyGaming’s stature admitting to breaking laws that are vague, confusing, and seemingly haphazardly applied. After all, the settlement essentially amounts to admission that the company committed bank fraud, writes Roger Blitz at the Financial Times, who also hints that the financial results may not be as positive as initial reports indicate.
The Washington Post’s Gilbert Gaul also takes a more skeptical view: “Prior to the enactment of the Unlawful Internet Gambling Enforcement Act in October 2006, PartyGaming operated one of the largest and most active Internet poker sites in the U.S. The company immediately withdrew from the U.S. market and stopped accepting U.S. players, which caused a dive in its earnings and stock price. Nevertheless Justice Department prosecutors continued to consider charges against the company for targeting U.S. players before 2006, contending that previous laws also outlawed Internet gambling.”
The Washington Post article also features some helpful analysis on the state of the anti-UIGEA movement in the U.S.; click here to read it. The Financial Times article can be found here, and the Guardian article can be found here. Click here to read Jeremy Warner’s article in the Independent, and, last but not least, the Associated Press coverage can be viewed via the Forbes website, here
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Wednesday, April 08, 2009
Party Gaming Settles Dispute With U. S. Attorneys, by Earl Burton - Poker News Daily - 7th April 2009
In a case that has been years in the making, it was announced this morning that Party Gaming PLC, the company that has been at the forefront of providing poker and casino services to Internet players, has entered into a non-prosecution agreement with the U.S. Attorney’s Office (USAO) for the Southern District of New York.
The agreement comes after months of discussions between the two parties about Party Gaming’s operations in the United States prior to the enactment of the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA). As part of the agreement, Party Gaming has accepted from the USAO an irrefutable “Statement of Facts” regarding its business activities prior to when the UIGEA was entered into law. Party Gaming, per the settlement, has agreed to pay $105 million over a three and a half year period that ends on September 30th, 2012. These payments will be due semi-annually and will come from the company’s existing financial resources.
As a part of the non-prosecution agreement, Party Gaming has admitted to offering online poker and casino games for real money to players in the United States from 1997 until October 13th, 2006, which was the day that the UIGEA was signed into law. The company also is conceding that transactions from customers in the U.S. intended for Party Gaming were processed by third parties and other gaming and payment-related companies, which is contrary to current U. S. laws.
According to the website Gaming Intelligence Group, this marks a new dawn for Party Gaming in the eyes of its CEO, Jim Ryan. Ryan states, “The resolution of our position with the U. S. authorities marks an important day for Party Gaming. It has been a long and complex process, but we have reached an amicable solution with the USAO that makes commercial sense for our business and is in the best interests of shareholders. We are now well-placed to seize organic as well as strategic opportunities that previously were beyond our reach.” The shareholders of Party Gaming stock on the London Stock Exchange appear to approve of the agreement, as its stock price as of press time has climbed 33 pence, or slightly over 13%, to 252 pence. The company is traded under the symbol "PRTY" in London.
This marks the close of Party Gaming’s disputes with the U. S. Government regarding its operations in the United States. Back in mid-December, Party Gaming co-founder Anurag Dikshit admitted to violating the Wire Act of 1961 in the Southern District Court of New York. The judge in that case, Jed Rakoff, did not immediately sentence Dikshit to jail time, which could have put the founder of PartyGaming away for up to two years. Instead, Rakoff scheduled sentencing for December 16th, 2010 with the posting of a $50 million bond. Dikshit has continued to cooperate in any online gaming investigations by the U.S. Government. It was also agreed that Dikshit would pay off a $300 fine million in three installments within months of the plea deal. (Credit: Poker News Daily)
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In a case that has been years in the making, it was announced this morning that Party Gaming PLC, the company that has been at the forefront of providing poker and casino services to Internet players, has entered into a non-prosecution agreement with the U.S. Attorney’s Office (USAO) for the Southern District of New York.
The agreement comes after months of discussions between the two parties about Party Gaming’s operations in the United States prior to the enactment of the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA). As part of the agreement, Party Gaming has accepted from the USAO an irrefutable “Statement of Facts” regarding its business activities prior to when the UIGEA was entered into law. Party Gaming, per the settlement, has agreed to pay $105 million over a three and a half year period that ends on September 30th, 2012. These payments will be due semi-annually and will come from the company’s existing financial resources.
As a part of the non-prosecution agreement, Party Gaming has admitted to offering online poker and casino games for real money to players in the United States from 1997 until October 13th, 2006, which was the day that the UIGEA was signed into law. The company also is conceding that transactions from customers in the U.S. intended for Party Gaming were processed by third parties and other gaming and payment-related companies, which is contrary to current U. S. laws.
According to the website Gaming Intelligence Group, this marks a new dawn for Party Gaming in the eyes of its CEO, Jim Ryan. Ryan states, “The resolution of our position with the U. S. authorities marks an important day for Party Gaming. It has been a long and complex process, but we have reached an amicable solution with the USAO that makes commercial sense for our business and is in the best interests of shareholders. We are now well-placed to seize organic as well as strategic opportunities that previously were beyond our reach.” The shareholders of Party Gaming stock on the London Stock Exchange appear to approve of the agreement, as its stock price as of press time has climbed 33 pence, or slightly over 13%, to 252 pence. The company is traded under the symbol "PRTY" in London.
This marks the close of Party Gaming’s disputes with the U. S. Government regarding its operations in the United States. Back in mid-December, Party Gaming co-founder Anurag Dikshit admitted to violating the Wire Act of 1961 in the Southern District Court of New York. The judge in that case, Jed Rakoff, did not immediately sentence Dikshit to jail time, which could have put the founder of PartyGaming away for up to two years. Instead, Rakoff scheduled sentencing for December 16th, 2010 with the posting of a $50 million bond. Dikshit has continued to cooperate in any online gaming investigations by the U.S. Government. It was also agreed that Dikshit would pay off a $300 fine million in three installments within months of the plea deal. (Credit: Poker News Daily)
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Sunday, April 05, 2009
Online punters rushing to play, by Nick Galvin - The Age - 4th April 2009
In 2000 the Federal Government was interested in attitudes to the embryonic online gambling industry. Would Australians cop a ban on all local gambling sites - and if a ban was enforced would punters simply go offshore for their gambling fix?
Results of the consequent survey seem almost quaint. Ninety-six per cent of people said they had no interest in online gambling, and 1 per cent said they would consider playing on an overseas site if they "stumbled upon it".
"These points suggest that currently involvement in internet gambling is only minimal and not likely to increase rapidly in the near feature," the government report concluded. The next year the Interactive Gambling Act made it an offence to provide online gambling services in Australia; as late as 2004 a review boasted about the ban's effectiveness.
Fast forward to 2009. Exact figures are impossible to obtain, but industry sources agree that hundreds of thousands of Australians regularly play poker on overseas servers.
Causes of this growth are complex. Television exposure played a part; so too did the number of Australians with home internet connections - up from a third of households in 2001 to two-thirds by 2006. And there is no shortage, it seems, of Australians willing to trust the internet with their credit card details. (Credit: The Age)
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In 2000 the Federal Government was interested in attitudes to the embryonic online gambling industry. Would Australians cop a ban on all local gambling sites - and if a ban was enforced would punters simply go offshore for their gambling fix?
Results of the consequent survey seem almost quaint. Ninety-six per cent of people said they had no interest in online gambling, and 1 per cent said they would consider playing on an overseas site if they "stumbled upon it".
"These points suggest that currently involvement in internet gambling is only minimal and not likely to increase rapidly in the near feature," the government report concluded. The next year the Interactive Gambling Act made it an offence to provide online gambling services in Australia; as late as 2004 a review boasted about the ban's effectiveness.
Fast forward to 2009. Exact figures are impossible to obtain, but industry sources agree that hundreds of thousands of Australians regularly play poker on overseas servers.
Causes of this growth are complex. Television exposure played a part; so too did the number of Australians with home internet connections - up from a third of households in 2001 to two-thirds by 2006. And there is no shortage, it seems, of Australians willing to trust the internet with their credit card details. (Credit: The Age)
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