Poker.co.uk

Poker Info
DATE: May 26 2012
TIME :

Poker.co.uk - Poker news archive

The Gambling Network

Poker.co.uk - Poker News Archive

Tuesday 5th June 2007

Online Casino Group�s US Negotiations Bear Fruit

After announcing yesterday that it was in consultation with the state of New York�s Department of Justice, Internet gambling company PartyGaming, owner of Party Poker and Party Casino, has further announced that there could be some light at the end of the tunnel.

'Although it is too early to assess the outcome of these discussions, our intelligence tells us that there now appears a willingness on behalf of the US Attorney's Office to settle and draw a line under the uncertainty caused by recent Department Of Justice actions towards online gaming companies,' said Richard Carter, an analyst for PartyGaming.

The talks between PartyGaming and US officials surround the company discussing a compromise where the Department Of Justice would admit that the laws prior to the passing of the Unlawful Internet Gambling Enforcement Act (UIGEA) last year were ambiguous and, therefore, that they should not pursue more arrests against companies who willingly left the American market once the new law passed.

PartyGaming, and other UK Internet gambling companies that left the market after UIGEA, are in dire need of clarification as many of these are looking to consolidate with other companies but won't due to scares over future prosecution.

If the Department Of Justice agrees with PartyGaming that the laws prior to UIGEA were ambiguous, it could spark a huge buyout trend that will see stocks in these companies skyrocketing. Many land-based UK companies are looking to buyout companies like PartyGaming so as to have an instant and large online presence.

Source: OnlineCasinoNews

View Similar Stories
Online Casino Group Signs deal with PokerNetwork
Online Casino Group Moves up the Revenue Ranks
Online Casino Group Joins Bandwagon on Talks With US
Online Casino Group Determined to Party On
Online Casino Group Purchase Makes Full House

Discuss this story in the Poker Forum. Last 5 Posts:
Saturday 26^th May, 2012: New Bap - Day 3
Saturday 26^th May, 2012: Party Poker and William Hill (iPoker) BAP
Saturday 26^th May, 2012: Brag Thread! Post your greatest wins (online or live) here.
Saturday 26^th May, 2012: WSOP Fantasy Draft 2012
Friday 25^th May, 2012: One way poker Swapsies

Poker.co.uk is part of The Gambling Network | Terms and Conditions | Privacy Policy | Contact Us | Gamble Aware

Poker.co.uk is operated by InTouch Poker Ltd (hereinafter called the "Company"), a limited liability company with registration number C44236, registered in Malta (a member of the EU since May 2004). The Company’s registered address is at Vincenti Buildings, Suite 623, 14/19 Strait Street, Valletta VLT 1432, Malta. The Company operates the Poker.co.uk online poker room under a provisional license issued and regulated by the Lotteries and Gaming Authority ("LGA") of Malta (issued on 2 December 2008, number LGA/CL3/412/2007). The software used for operating the Poker.co.uk online poker room is licensed from Boss Media Malta Poker Limited. Our services are not available to residents of the United States, US Virgin Islands, US Minor Outlying Areas or Turkey or any other jurisdiction that legally prohibits its citizens from engaging in online gaming.