New York Post reports PartyGaming nearing $1 billion settlement with US

[The Buzz]

The New York Post reported on Saturday night that PartyGaming is closing in on a $1 billion (yes, billion, with nine zeros) with the US Justice Department to forgive past infringements of US Internet gambling law.

Full story here, but expect plenty more on this huge story.

http://www.nypost.com/seven/05312008...off_113301.htm

[The Buzz]

Kudos to onlinecasinoadvisory.com, which points out that this settlement is nearly 50 times the amount the US would owe Antigua, according to the WTO settlement that was proposed (Antigua and the US are still in talks about this, as the US does not want to give Antigua the right to ignore US copyrights).

http://www.onlinecasinoadvisory.com/...tates-1730.htm

[Focalclick]

Rumors swirled yesterday on two continents that an unprecedented settlement was in the works between the Department of Justice and one of the world's leading online-gaming empires, PartyGaming Plc, to forgive illegal betting made online in the US prior to a 2006 law banning it here.

What illegal betting was taking place prior to 2006? Did Partygaming have a sportsbook then?

Mark

[wallstreeterww]

This is rediculous. Why dont they just regulate online gambling and use that huge tax money to boost the economy? Are these politicians really representing the american people and the constitution?
Its too bad Ron Paul isnt president.

[The Buzz]

Lots of media reports out there that the buzz about this settlement was premature. Buzzy will be keeping an eye on this ...

[casinoranking]

You have to love the fact that the US government is involved in racketeering and extortion.

[LuckyLove8]

You have to love the fact that the US government is involved in racketeering and extortion.

exactly..