Thursday, May 15, 2008

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PartyGaming looks to settle with U.S. DOJ

By Arthur Crowson

According to a story published in Forbes earlier this month, PartyGaming PLC expects to reach an agreement with the U.S. Department of Justice sometime this year.

PartyGaming PLC, which runs online gaming sites like PartyPoker.com, PartyBingo.com and PartyCasino.com, was forced to shut its doors to the U.S. market when the government passed the Unlawful Internet Gambling Enforcement Act (UIGEA) in October 2006.

The company has been in talks with the U.S. government since the law passed to clear any uncertainty regarding possible retroactive penalties related to the online gambling ban.

"These discussions are progressing constructively and I remain confident that we will reach a resolution in 2008," said PartyGaming CEO Mitch Garber in the interview with Forbes. "It's very hard to predict. There's some fluidity to it. 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."

PartyGaming PLC is a publicly traded company and resides on the London Stock exchange as PRTY.L. This differentiates them from competition like PokerStars, Full Tilt Poker and Bodog, which are private companies and continue to do business with U.S. customers.

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