PartyGaming Reaches $105m Settlement with US Authorities
Posted by: admin / Category: Casino News, Gambling
After a long period of negotiations and legal maneuvering, the world’s leading listed online gaming company has just reached contract with the US government on a Non-Prosecution Agreement. The agreement was reached with the US attorney’s office for the southern district of New York. It means that the company will give a considerable fee rather than pay any illegal charges. The agreed upon punishment will take the form of a $105 million charge, reached after almost two years of argument and negotiation.
Basically act against a non-American company for providing a service with a legitimacy that is hard to describe in black-and-white terms.
Shares in the Partypoker website operator jumped 14%, to 250 pence, after it said it would pay a charge of about $105m to settle the claims. From now the company will spotlight on merger and acquisition activity, which went on to expect that the end of this case represent a turning point for the online gaming industry. Partygaming CEO, Jim Ryan said,
We’ve received a favorable indication from the parties that we’d gone to that once this matter was resolved that we could have access to not only the equity markets, but to debt markets.
