Daily Poker News

PartyGaming Finalizes Agreement with US Attorney Office

After nearly 2 years of talks, PartyGaming announced on April 4th, 2009 that it had reached a non-prosecution the US Attorney's Office for the Southern District of New York. As part of the agreement with the US Attorney's Office, PartyGaming will pay a total of $105 million in fines with the assurance that the US government will not file a case against the company or any of its sister companies for giving online gaming services to players in the United States before the enforcement of the UIGEA (Unlawful Internet Gambling Enforcement Act) on October 13th, 2006.

PartyGaming, the online gambling giant who once possess the lion's share of the online poker industry before it pulled out of the US gaming market when the UIGEA was approved, has not given gaming services to US citizens since 2006 and agreed in the deal not to pursue these players under the existing laws.

Jim Ryan, the Chief Executive Officer of PartyGaming said that with the resolution of their issue with the US officials marks an important development for the company. He added that it has been a long and difficult process but they have been able to come up with a good solution that will satisfy both sides.

Ryan said that they are now in a good position to take advantage of opportunities that were previously beyond their capability. PartyGaming agreed to four important statements: 1st; from 1997 until October 13th, 2006, PartyGaming featured online gaming to US players, including real-cash poker and casino gaming. PartyGaming voluntarily leave the US gaming market on October 13th, 2009.

2nd; Before October 13th, 2006, US players transactions that are intended for the company that were duly processed by 3rd parties and other gaming-related activity were different from existing US gaming laws. 3rd; PartyGaming has agreed to maintain restrictions on online gaming services for US citizens in order to refrain from violating existing US gaming laws.

4th; if requested by PartyGaming, the United States Attorney's Office will bring the actions of the company to the attention of other regulatory bodies. While the company agreed to restrict US players based on the present laws, this agreement could allow the organization to return to the US gaming market if the UIGEA is change. Congressman Barry Frank will introduce a proposal that will do that after the Easter break of the Congress.

 

04/21/2009, Tuesday