PartyGaming PLC expects settlement with US DoJ |
| Written by Joey |
| Saturday, 10 May 2008 05:41 |
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PartyGaming Chief Executive Mitch Garber hopes that this will finally end the uncertainty over the possibility that US law enforcement agencies will take action for the operations of PartyGaming in the US prior to the law being passed. PartyGaming rival 888 also initiated talks with the US Department of Justice for the same reasons. Both companies are trying the settle with the US DOJ to avoid the prospect of being embroiled in a messy legal proceeding whose outcome can be disadvantageous. Last year, BetOnSports PLC pleaded guilty to federal racketeering charges accepting that it had committed 'repeated mail and wire fraud, operated an illegal gambling business, laundered money and admitted to multiple state gambling felony charges'. When pressed for a timetable, Mitch Garber added 'These discussions are progressing constructively and I remain confident that we will reach a resolution in 2008.' Last year, the DoJ agreed a deal with Neteller PLC, the payment processor which had been heavily dependent on online gambling, through which Neteller agreed to pay a US$ 136 million penalty to avoid prosecution. This was seen by observers as a prelude to deals between the US Justice Department and the industry. Add this page to your favorite Social Bookmarking websites       |
| Last Updated ( Monday, 26 May 2008 09:28 ) |
