PartyGaming expects settlement this year
PartyGaming was forced to close all of its US-facing operations following the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) in October of 2006. It stated last year that it had initiated talks with the American Government in order to end any uncertainties over any possible actions by law enforcement agencies regarding its activities in the US prior to the legislation being ratified.
“These discussions are progressing constructively and I remain confident that we will reach a resolution in 2008,” said Mitch Garber, CEO for PartyGaming. “We’re in the midst of a process and our attorneys tell us it is moving in the right direction and at the right speed.”
The Department of Justice agreed a deal with Neteller last year that saw the online payment processor pay a us$ 136 million penalty to avoid prosecution. This settlement was seen by many industry observers as a prelude to further deals between the American Government and the industry with PartyGaming competitor 888 Holdings also believed to be in similar talks with authorities.
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