PartyGaming reaches settlement with U.S.

[The Buzz]

The U.K. gambling firm, once a huge presence in the U.S., has reached non-prosecution deal with U.S. authorities that will cost the company $105 million.

PartyGaming had closed U.S. operations shortly after the UIGEA went into effect and has been in negotiations with the U.S. government since mid-2007.

From MarketWatch:

"The resolution of our position with the U.S. authorities marks an important day for PartyGaming. It has been a long and complex process, but we have reached an amicable solution," said CEO Jim Ryan.

"We are now well-placed to seize organic as well as strategic opportunities that previously were beyond our reach," he added.

[e-gamblingcity.com]

I'm really disappointed with US laws...

[alexpratt]

Aren't we all! But I see this as positive and ultimately helping pave a way back in - Should also be very interesting to see what deals Party do over the next 9 months as this US thing has held them back a lot and now they can work with, merge with or buy/be bought by anyone..........

[raphnix]

Aren't we all! But I see this as positive and ultimately helping pave a way back in - Should also be very interesting to see what deals Party do over the next 9 months as this US thing has held them back a lot and now they can work with, merge with or buy/be bought by anyone..........

I think it's only neutral for those who don't like the gambling industry in US. We can only wish that their decision is always fair mutually?

[SoCooLBob]

I'm confused.
Weren't those the people who lost BILLIONS when the US
one day passed a law "outlawing" onling gaming?

Party Poker?

And now they're PAYING the US Govt for their transgressions?

Sounds like a BAD BEAT to me.