Everyone in the online gambling world knows that online casinos and poker rooms have been experiencing legal troubles in the United States since the passage of the UIGEA in 2006. One such company was PartyGaming who has been under scrutiny for taking “illegal” bets from US citizens in the past.

The new Chief Executive for PartyGaming, Jim Ryan, has stated that PartyGaming is making “good progress” with the New York US Attorney’s Office over a settlement. The settlement would change the company’s previous acceptance of so-called “illegal bets” from Americans.

One of the founders of PartyGaming, Anurag Dikshit plead guilty last year to breaking US laws over online betting. Dikshit agreed to pay $300 million in fines and to serve a maximum of two years in prison. Ryan stated that PartyGaming is not at a disadvantage in the US talks despite what happened with Dikshit and Ryan also stated: “We believe there will not be any criminal plea against the company or any of its former directors.”

The finance director for PartyGaming, Martin Weigold, stated that the company is expecting to pay less than Dikshit, and it is expected to be around $150 million. PartyGaming will be able to use their net cash as well as debt markets and shares to deal with the United States settlement.




- 2009-03-12