PartyGaming Makes EGR Awards Operator of the Year shortlist
PartyGaming won a place on the back of a slew of deals including its acquisition of Cashcade in July and tie-ups with Cirsa, Spain’s market leading casino operator, UK TV broadcaster Five and direct marketing company DM; plus a surge of 630,000 new players last year. Earlier this year PartyGaming also became the only major operator to have settled with the US authorities, and was second only to Bwin in the 2009 Power 50 leading operators.
The winner of the award will be announced at the EGR Awards gala dinner, which takes place at London’s Old Billingsgate market on 30 November, the first night of EGR Live, eGaming Review's free-to-attend conference and exhibition at the same venue.
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Friday, October 30, 2009
PartyPoker Introduces Aussie Millions Qualifiers - Defending Champ Stewart Scott Special Tournaments
***The PartyPoker.com Monthly Million is a $1 million guaranteed online poker tournament every first Sunday of the month. The next Monthly Million takes place on Sunday 1 November at 12.45 ET (17.45 GMT, 18.45 CET) and features a championship blind structure. The buy-in is $600+$40 but the diverse qualifying paths means you can join the qualifiers from as little as $1. The wide range of qualifiers includes $64+$4 daily satellites with a total of 18 seats guaranteed per day, a MEGA Friday $50+$5 satellite that guarantees 20 seats and Super Satellite Saturday qualifiers with a $32+$3 buy-in and a total of 18 seats guaranteed that day. The paths into the Monthly Million are many – check out PartyPoker.com ***
PARTYPOKER.COM INTRODUCES AUSSIE MILLIONS QUALIFIERS
DEFENDING CHAMPION STEWART SCOTT HOSTS SPECIAL TOURNAMENTS
Gibraltar – 29th October 2009 – PartyPoker.com has introduced online qualifiers for the 2010 Aussie Millions in Melbourne. Seen as one of poker’s majors, the Main Event is a highlight of the world live circuit and the leading online poker room is going completely Aussie crazy in November and December!
PartyPoker.com Australia Ambassador Stewart Scott is the defending champion and there is a chance to emulate his success in Melbourne next year. PartyPoker.com is offering the chance to win one of 25 luxury Aussie Millions main event packages. These fantastic dream trips will be up for grabs in two amazing $600+40 satellites on Sunday 13th December. One will be timed to suit Australia and New Zealand-based players with FIVE packages guaranteed worth $12,000, while the other is scheduled to give players from the rest of the world the chance to win one of 20 guaranteed packages worth $15,000.
For more information on the many paths to Melbourne, including PartyPoint and freeroll options, see PartyPoker.com Qualifiers start on Sunday 1st November - as ever PartyPoker.com provides diverse qualifying structures, which can start from as little as just $1.
PartyPoker.com ambassador Stewart Scott said: “I’ve been playing at PartyPoker.com for five years. These great packages are an amazing opportunity for other players to play in this huge tournament. Claiming the Aussie Millions title has been the highlight of my career and I’d love to see another PartyPoker.com player take the title.”
There are also a number of Stewart Scott Aussie Millions special tournaments: PartyPoker.com
The Stewart Scott Bounty Hunt
From the 1st November, Stewart will be playing in the $64+$6 Aussie Millions ANZ Friendly Satellite Qualifier at 04.05 ET (19.05 AEST) every Tuesday and Thursday. There’s a $70 bounty on Stewart’s head if a player eliminates him.
Stewart Scott Aussie Millions Specials
In these tournaments PartyPoker.com will be giving away seats to Aussie Millions qualifiers. First place will win a $640 seat, second place gets a seat at the $128 qualifier while third will claim a $70 qualifier seat. Top ranking players will also receive prize money from the buy-in pool and there’s also a $70 bounty if you’re the player who knocks Stewart out.
Stewart Scott Aussie Millions Special 1 – Sunday 15 November, 03.05 ET (19.05 AEST), buy-in $6+$1
Stewart Scott Aussie Millions Special 2 – Sunday 6 December, 03.05 ET (19.05 AEST), buy-in $6+$1
Stewart Scott Highroller Aussie Millions Invitational
One luxury $12,000 Aussie Millions package for first place, $640 seat in final qualifier on offer for the player that knocks out Stewart. This takes place on Sunday 22 November at 03.05 ET (19.05 AEST) with a $250+$20 buy-in.
Scott, 37, from Queensland, Australia, made history in January 2009 by becoming the first Australian in the modern era to take down the Aussie Millions Main Event, scooping US$1,865,724. Scott is a loyal member of PartyPoker.com’s VIP club the Palladium Lounge. He made his debut representing the leading online poker room at the PokerNews Cup in Melbourne earlier this month. Scott is married with one daughter and started life as a gourmet chef in Adelaide, with a period running a small IT business as he honed his skills online. He made his first impact on the live circuit in 2006 by winning a satellite series at SkyCity Casino in Adelaide that awarded him a $30,000 package for the WSOP Main Event. Stewart is a popular figure on the Australian poker circuit and is well known for his relaxed attitude but killer instinct at the table.
® AUSSIE MILLIONS, AUSSIE MILLIONS POKER CHAMPIONSHIP and CROWN Device and associated trade marks are trade marks of Crown Melbourne Limited. No license, affiliation, sponsorship or endorsement, is claimed, or should be inferred from the use of these trademarks here. PartyGaming is not affiliated, licensed, by, or otherwise affiliated with Crown Melbourne Limited in any way.
World Series of Poker”® and “WSOP”®, WSOPE”® are registered trade marks of Harrah’s License Company LLC. No license, affiliation, sponsorship, or endorsement is claimed, or should be inferred from the use of these trademarks here. PartyGaming is not licensed by or otherwise affiliated with Harrah’s License Company LLC or the World Series of Poker®, in any way.
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***The PartyPoker.com Monthly Million is a $1 million guaranteed online poker tournament every first Sunday of the month. The next Monthly Million takes place on Sunday 1 November at 12.45 ET (17.45 GMT, 18.45 CET) and features a championship blind structure. The buy-in is $600+$40 but the diverse qualifying paths means you can join the qualifiers from as little as $1. The wide range of qualifiers includes $64+$4 daily satellites with a total of 18 seats guaranteed per day, a MEGA Friday $50+$5 satellite that guarantees 20 seats and Super Satellite Saturday qualifiers with a $32+$3 buy-in and a total of 18 seats guaranteed that day. The paths into the Monthly Million are many – check out PartyPoker.com ***
PARTYPOKER.COM INTRODUCES AUSSIE MILLIONS QUALIFIERS
DEFENDING CHAMPION STEWART SCOTT HOSTS SPECIAL TOURNAMENTS
Gibraltar – 29th October 2009 – PartyPoker.com has introduced online qualifiers for the 2010 Aussie Millions in Melbourne. Seen as one of poker’s majors, the Main Event is a highlight of the world live circuit and the leading online poker room is going completely Aussie crazy in November and December!
PartyPoker.com Australia Ambassador Stewart Scott is the defending champion and there is a chance to emulate his success in Melbourne next year. PartyPoker.com is offering the chance to win one of 25 luxury Aussie Millions main event packages. These fantastic dream trips will be up for grabs in two amazing $600+40 satellites on Sunday 13th December. One will be timed to suit Australia and New Zealand-based players with FIVE packages guaranteed worth $12,000, while the other is scheduled to give players from the rest of the world the chance to win one of 20 guaranteed packages worth $15,000.
For more information on the many paths to Melbourne, including PartyPoint and freeroll options, see PartyPoker.com Qualifiers start on Sunday 1st November - as ever PartyPoker.com provides diverse qualifying structures, which can start from as little as just $1.
PartyPoker.com ambassador Stewart Scott said: “I’ve been playing at PartyPoker.com for five years. These great packages are an amazing opportunity for other players to play in this huge tournament. Claiming the Aussie Millions title has been the highlight of my career and I’d love to see another PartyPoker.com player take the title.”
There are also a number of Stewart Scott Aussie Millions special tournaments: PartyPoker.com
The Stewart Scott Bounty Hunt
From the 1st November, Stewart will be playing in the $64+$6 Aussie Millions ANZ Friendly Satellite Qualifier at 04.05 ET (19.05 AEST) every Tuesday and Thursday. There’s a $70 bounty on Stewart’s head if a player eliminates him.
Stewart Scott Aussie Millions Specials
In these tournaments PartyPoker.com will be giving away seats to Aussie Millions qualifiers. First place will win a $640 seat, second place gets a seat at the $128 qualifier while third will claim a $70 qualifier seat. Top ranking players will also receive prize money from the buy-in pool and there’s also a $70 bounty if you’re the player who knocks Stewart out.
Stewart Scott Aussie Millions Special 1 – Sunday 15 November, 03.05 ET (19.05 AEST), buy-in $6+$1
Stewart Scott Aussie Millions Special 2 – Sunday 6 December, 03.05 ET (19.05 AEST), buy-in $6+$1
Stewart Scott Highroller Aussie Millions Invitational
One luxury $12,000 Aussie Millions package for first place, $640 seat in final qualifier on offer for the player that knocks out Stewart. This takes place on Sunday 22 November at 03.05 ET (19.05 AEST) with a $250+$20 buy-in.
Scott, 37, from Queensland, Australia, made history in January 2009 by becoming the first Australian in the modern era to take down the Aussie Millions Main Event, scooping US$1,865,724. Scott is a loyal member of PartyPoker.com’s VIP club the Palladium Lounge. He made his debut representing the leading online poker room at the PokerNews Cup in Melbourne earlier this month. Scott is married with one daughter and started life as a gourmet chef in Adelaide, with a period running a small IT business as he honed his skills online. He made his first impact on the live circuit in 2006 by winning a satellite series at SkyCity Casino in Adelaide that awarded him a $30,000 package for the WSOP Main Event. Stewart is a popular figure on the Australian poker circuit and is well known for his relaxed attitude but killer instinct at the table.
® AUSSIE MILLIONS, AUSSIE MILLIONS POKER CHAMPIONSHIP and CROWN Device and associated trade marks are trade marks of Crown Melbourne Limited. No license, affiliation, sponsorship or endorsement, is claimed, or should be inferred from the use of these trademarks here. PartyGaming is not affiliated, licensed, by, or otherwise affiliated with Crown Melbourne Limited in any way.
World Series of Poker”® and “WSOP”®, WSOPE”® are registered trade marks of Harrah’s License Company LLC. No license, affiliation, sponsorship, or endorsement is claimed, or should be inferred from the use of these trademarks here. PartyGaming is not licensed by or otherwise affiliated with Harrah’s License Company LLC or the World Series of Poker®, in any way.
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Wednesday, October 28, 2009
PartyCasino Gold Mega Jackpot now over $4.5 Million! - 28th October 2009
The PartyCasino.com Gold Mega Jackpot has exceeded $4.5 million!
The following games can be played to qualify for the Gold Mega Jackpot:
Cash Cruise, Fantastic Four, Fire Drake, Golden Oasis, Mega Fortune Wheel, Spider-Man, Super Fortune Wheel, Super Joker, Super Mystic, Super Star, Sweet Hawaii, The Godfather, The Incredible Hulk, Thor and Gone With The Wind.
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The PartyCasino.com Gold Mega Jackpot has exceeded $4.5 million!
The following games can be played to qualify for the Gold Mega Jackpot:
Cash Cruise, Fantastic Four, Fire Drake, Golden Oasis, Mega Fortune Wheel, Spider-Man, Super Fortune Wheel, Super Joker, Super Mystic, Super Star, Sweet Hawaii, The Godfather, The Incredible Hulk, Thor and Gone With The Wind.
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Tuesday, October 27, 2009
Internet gambling changes possible following Australian Productivity Commission report - 26th October 2009
SYDNEY, Australia - A new approach to tackling gambling could see the Australian government place a $1 per bet limit on pokie machines and repeal the ban on Australian online gaming sites, News Limited reports.
The 630 page draft report of the year-long review appears to be a government initiative to help make gambling safer through harm minimization strategies.
The report, quoted in The Courier Mail, acknowledges "Australia's ban on online gaming is not working, with Australians increasingly gambling abroad on sites with minimal consumer protection."
The final report carried out by the Productivity Commission is due for release on 26th February at this stage.
The Casino News Media and Media Man Australia network will report on more details as they come to hand.
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SYDNEY, Australia - A new approach to tackling gambling could see the Australian government place a $1 per bet limit on pokie machines and repeal the ban on Australian online gaming sites, News Limited reports.
The 630 page draft report of the year-long review appears to be a government initiative to help make gambling safer through harm minimization strategies.
The report, quoted in The Courier Mail, acknowledges "Australia's ban on online gaming is not working, with Australians increasingly gambling abroad on sites with minimal consumer protection."
The final report carried out by the Productivity Commission is due for release on 26th February at this stage.
The Casino News Media and Media Man Australia network will report on more details as they come to hand.
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iGlobalMedia Entertainment Limited To Launch A New Online Casino - October 2009
iGlobalMedia Entertainment Limited To Launch A New Online Casino
iGlobalMedia Entertainment Limited, best known by its other name, PartyGaming, is to launch another online casino within days.
Adding to its world famous PartyGaming, PartyCasino.com, PartyPoker.com and World Poker Tour brands, iGlobalMedia Entertainment Limited is to launch Noble Casino, following on from its recent Noble Poker offering.
Noble Casino is owned by iGlobalMedia Entertainment Limited (PartyGaming Plc) and managed by Global Gaming Net (GGN) one of the oldest and most respected management companies involved in the online gaming industry today.
Noble Casino is a fully licensed Online Casino, regulated by Government of Gibraltar under the Gambling Act 2005 for purposes of operating online casino games and operating under the supervision of the Director of Offshore Gaming. They adhere to a strict code of conduct and their high level of integrity has earned the trust and loyalty of numerous clients.
PartyGaming's best known brands are PartyCasino.com, PartyPoker.com, PartyBingo.com, PartyBets.com, PartyGammon.com, World Poker Tour and Foxy Bingo.
They also own Playtech powered casinos Casino Las Vegas, Casino King, Casino Swiss and Noble Poker.
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iGlobalMedia Entertainment Limited To Launch A New Online Casino
iGlobalMedia Entertainment Limited, best known by its other name, PartyGaming, is to launch another online casino within days.
Adding to its world famous PartyGaming, PartyCasino.com, PartyPoker.com and World Poker Tour brands, iGlobalMedia Entertainment Limited is to launch Noble Casino, following on from its recent Noble Poker offering.
Noble Casino is owned by iGlobalMedia Entertainment Limited (PartyGaming Plc) and managed by Global Gaming Net (GGN) one of the oldest and most respected management companies involved in the online gaming industry today.
Noble Casino is a fully licensed Online Casino, regulated by Government of Gibraltar under the Gambling Act 2005 for purposes of operating online casino games and operating under the supervision of the Director of Offshore Gaming. They adhere to a strict code of conduct and their high level of integrity has earned the trust and loyalty of numerous clients.
PartyGaming's best known brands are PartyCasino.com, PartyPoker.com, PartyBingo.com, PartyBets.com, PartyGammon.com, World Poker Tour and Foxy Bingo.
They also own Playtech powered casinos Casino Las Vegas, Casino King, Casino Swiss and Noble Poker.
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Maximus Rewards As 'The Gladiator" Returns To PartyPoker
**Coverage of the triple stack PartyPoker.com World Open V starts on Wednesday 28th October/Thursday 29th October at 12.10am on Five in the UK. Heat one features Ian Frazer, Andy Ward, James Akenhead, Luke ‘FullFlush’ Schwartz, Yevgeniy Timoshenko, Jason Adams, Christian Schafer and Jorg Muller. Jesse May is joined in the commentary box by Phil Laak. The action is presented by Kara Scott.**
‘FRIENDS, ROMANS, POKER PLAYERS, LEND ME YOUR EARS!’ MAXIMUS REWARDS AS ‘THE GLADIATOR’ RETURNS
Gibraltar – 26th October 2009 – PartyPoker.com is pleased to announce details of its next wide ranging promotion as ‘The Gladiator’ returns! For one month the online poker room becomes the colosseum!
From the 1st – 30th November players who hit the daily minimum target of 10 PartyPoints for just five days claim the much-deserved reward of an entry into a $5,000 freeroll. The more days a players earns points on, the bigger the prize will be – there’s up to $3,000 cash to be won. PartyPoker.com has also added a massive incentive for the most dedicated players. Earn 1,000 points every day for the full 30 days and a player secures a seat at next year’s Aussie Millions worth AUD$10,500. The first prize at the main event in Melbourne is estimated to be in the region of AUD$2 million.
A PartyPoker.com spokesman said:” The Gladiator is back and is stronger than ever before. In this colosseum you don’t have to worry about lions - just sharks, donkeys and fish! This promotion isn’t all about maximus PartyPoints, it is about spreading play over a period of time for maximus rewards! It is simple and offers great value and we encourage players to challenge themselves and take a closer look.”
A player doesn’t even have to earn points on consecutive days to be in with a shot at the colossal prizes: PartyPoker.com will just count up the number of days targets have been made during the promotion. For example, earn 10 points for 10 days, take five days off and then earn 10 points on 10 more days of the promotion and PartyPoker.com will award the prize for earning 10 points on 20 days. Players can keep updated on how many points picked up so far in ‘The Gladiator’ by checking their PartyAccount. Points are not removed from player accounts following the promotion – they all count towards Palladium Lounge targets.
The Million Dollar Hand at PartyPoker.com finishes at 23.59 on October 30th. So far there has been 65,652 pairs, 7,446 two pair, 3,328 three of a kind, 625 straights, 398 flushes, 240 full houses, 34 four of a kind and 4 straight flushes. Full details of the promo can be found at PartyPoker.com
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**Coverage of the triple stack PartyPoker.com World Open V starts on Wednesday 28th October/Thursday 29th October at 12.10am on Five in the UK. Heat one features Ian Frazer, Andy Ward, James Akenhead, Luke ‘FullFlush’ Schwartz, Yevgeniy Timoshenko, Jason Adams, Christian Schafer and Jorg Muller. Jesse May is joined in the commentary box by Phil Laak. The action is presented by Kara Scott.**
‘FRIENDS, ROMANS, POKER PLAYERS, LEND ME YOUR EARS!’ MAXIMUS REWARDS AS ‘THE GLADIATOR’ RETURNS
Gibraltar – 26th October 2009 – PartyPoker.com is pleased to announce details of its next wide ranging promotion as ‘The Gladiator’ returns! For one month the online poker room becomes the colosseum!
From the 1st – 30th November players who hit the daily minimum target of 10 PartyPoints for just five days claim the much-deserved reward of an entry into a $5,000 freeroll. The more days a players earns points on, the bigger the prize will be – there’s up to $3,000 cash to be won. PartyPoker.com has also added a massive incentive for the most dedicated players. Earn 1,000 points every day for the full 30 days and a player secures a seat at next year’s Aussie Millions worth AUD$10,500. The first prize at the main event in Melbourne is estimated to be in the region of AUD$2 million.
A PartyPoker.com spokesman said:” The Gladiator is back and is stronger than ever before. In this colosseum you don’t have to worry about lions - just sharks, donkeys and fish! This promotion isn’t all about maximus PartyPoints, it is about spreading play over a period of time for maximus rewards! It is simple and offers great value and we encourage players to challenge themselves and take a closer look.”
A player doesn’t even have to earn points on consecutive days to be in with a shot at the colossal prizes: PartyPoker.com will just count up the number of days targets have been made during the promotion. For example, earn 10 points for 10 days, take five days off and then earn 10 points on 10 more days of the promotion and PartyPoker.com will award the prize for earning 10 points on 20 days. Players can keep updated on how many points picked up so far in ‘The Gladiator’ by checking their PartyAccount. Points are not removed from player accounts following the promotion – they all count towards Palladium Lounge targets.
The Million Dollar Hand at PartyPoker.com finishes at 23.59 on October 30th. So far there has been 65,652 pairs, 7,446 two pair, 3,328 three of a kind, 625 straights, 398 flushes, 240 full houses, 34 four of a kind and 4 straight flushes. Full details of the promo can be found at PartyPoker.com
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Monday, October 26, 2009
Anurag Dikshit’s Sale of Party Gaming Stock Receives Mixed Reaction, by Dan Cypra - 25th October 2009
One of the major poker headlines this week was the news that Party Gaming Cofounder Anurag Dikshit would divest himself of nearly 114 million shares of the company’s stock, which is traded in London under the symbol “PRTY.” Now, the industry has had a chance to react.
The internet gambling think tank sported mixed reactions to the news, as Dikshit’s departure meant that a man who admitted to violating U.S. law in a New York courtroom one year ago would no longer hold any interest in the company. Interactive Media Entertainment and Gaming Association (iMEGA) Chairman Joe Brennan told Poker News Daily, “The thing to take away is that this is probably good overall for Party Gaming. When you have one of their founders pleading guilty, if and when things start to get normalized in the U.S. and Party Gaming comes into the market, they need to clear it off the books. The fact that he’s exiting the company is good for its future.”
When internet gambling will be legalized and regulated in the United States is anyone’s guess. Congressman Barney Frank (D-MA) introduced HR 2267 in May as one solution. The bill outlines a framework for the explicit legalization of the industry and, although the measure is up to 62 cosponsors, it has not yet been scheduled for markup in the House Financial Services Committee.
On how members of Congress and others outside of the industry would react to Dikshit’s exit, Brennan explained, “If Dikshit leaving Party Gaming can be a benefit to that company, I would say that it does the same broadly for the industry.” Financial analyst Nick Batram told Bloomberg that Dikshit’s departure meant that Party Gaming “may also find it easier to raise funds from institutional investors rather than the founders for large sports gambling acquisitions.” The Wire Act of 1961 has historically been interpreted to mean that online wagering on sports is not permitted in the U.S.
Dikshit will purportedly turn over the proceeds of his sale, which will likely total more than ₤188 million, to his charitable foundation. On the TwoPlusTwo online poker forums, posters questioned Dikshit’s charitable motives: “If he donated to an established charity that could not be mistaken for a front, then that would be impressive,” one skeptic noted. Some have speculated that tax benefits are the real reason behind his actions. Brennan told Poker News Daily, “He wants to get out of the business and focus on his charitable endeavors.”
The sale of two-thirds of Dikshit’s stake sent shares of Party Gaming plummeting. Trading above 284 pence on October 19th, the stock dove to 240 pence in 24 hours, a dip of 15%. PRTY closed trading on Friday on the London Stock Exchange fetching 243 pence, 135 pence above its asking price one year ago.
An article in the Financial Times summed up the reaction from most of the industry: “The truth, however, is that while the distancing of Mr Dikshit can’t be bad for Party Gaming, it is still frustratingly unclear what the odds are on a successful return to the U.S. market.” In five weeks, the financial services industry in the United States must fall into full compliance with the regulations of the Unlawful Internet Gambling Enforcement Act (UIGEA). The impact of the December 1st deadline remains to be seen, but the Poker Players Alliance (PPA) recently authored a letter to U.S. Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke asking for the UIGEA’s regulations to be delayed by one year.
Party Gaming Cofounders Ruth Parasol and Russ DeLeon, a husband and wife team, have not yet announced their intentions to sell stock or formulate a plea agreement with the U.S. Government. (Credit: Poker News Daily)
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One of the major poker headlines this week was the news that Party Gaming Cofounder Anurag Dikshit would divest himself of nearly 114 million shares of the company’s stock, which is traded in London under the symbol “PRTY.” Now, the industry has had a chance to react.
The internet gambling think tank sported mixed reactions to the news, as Dikshit’s departure meant that a man who admitted to violating U.S. law in a New York courtroom one year ago would no longer hold any interest in the company. Interactive Media Entertainment and Gaming Association (iMEGA) Chairman Joe Brennan told Poker News Daily, “The thing to take away is that this is probably good overall for Party Gaming. When you have one of their founders pleading guilty, if and when things start to get normalized in the U.S. and Party Gaming comes into the market, they need to clear it off the books. The fact that he’s exiting the company is good for its future.”
When internet gambling will be legalized and regulated in the United States is anyone’s guess. Congressman Barney Frank (D-MA) introduced HR 2267 in May as one solution. The bill outlines a framework for the explicit legalization of the industry and, although the measure is up to 62 cosponsors, it has not yet been scheduled for markup in the House Financial Services Committee.
On how members of Congress and others outside of the industry would react to Dikshit’s exit, Brennan explained, “If Dikshit leaving Party Gaming can be a benefit to that company, I would say that it does the same broadly for the industry.” Financial analyst Nick Batram told Bloomberg that Dikshit’s departure meant that Party Gaming “may also find it easier to raise funds from institutional investors rather than the founders for large sports gambling acquisitions.” The Wire Act of 1961 has historically been interpreted to mean that online wagering on sports is not permitted in the U.S.
Dikshit will purportedly turn over the proceeds of his sale, which will likely total more than ₤188 million, to his charitable foundation. On the TwoPlusTwo online poker forums, posters questioned Dikshit’s charitable motives: “If he donated to an established charity that could not be mistaken for a front, then that would be impressive,” one skeptic noted. Some have speculated that tax benefits are the real reason behind his actions. Brennan told Poker News Daily, “He wants to get out of the business and focus on his charitable endeavors.”
The sale of two-thirds of Dikshit’s stake sent shares of Party Gaming plummeting. Trading above 284 pence on October 19th, the stock dove to 240 pence in 24 hours, a dip of 15%. PRTY closed trading on Friday on the London Stock Exchange fetching 243 pence, 135 pence above its asking price one year ago.
An article in the Financial Times summed up the reaction from most of the industry: “The truth, however, is that while the distancing of Mr Dikshit can’t be bad for Party Gaming, it is still frustratingly unclear what the odds are on a successful return to the U.S. market.” In five weeks, the financial services industry in the United States must fall into full compliance with the regulations of the Unlawful Internet Gambling Enforcement Act (UIGEA). The impact of the December 1st deadline remains to be seen, but the Poker Players Alliance (PPA) recently authored a letter to U.S. Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke asking for the UIGEA’s regulations to be delayed by one year.
Party Gaming Cofounders Ruth Parasol and Russ DeLeon, a husband and wife team, have not yet announced their intentions to sell stock or formulate a plea agreement with the U.S. Government. (Credit: Poker News Daily)
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