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Online Gambling
Operators Permitted
Back in the US
Gambling911.com has
learned from its
sources out of
Washington that
online gambling
operators are being
permitted to travel
back to the United
States with
"immunity" under
certain conditions.
It was unclear
Friday whether this
only applied to
specific firms.
Gambling911 was in
the process of
obtaining the
"welcome back" list.
The news comes in
conjunction with
reports that
PartyGaming stocks
have risen well over
10 percent Friday on
news of settlement
talks with the US
Government.
This was the biggest
rise in Party's
shares since August.
As
previously reported
on Gambling911.com
over the past few
weeks, the US
Government and
PartyGaming
executives were said
to be "very close"
to settling in
regard to their
online poker
operation accepting
customers from the
United States.
An
agreement would
eliminate the
possibility of U.S.
authorities taking
retrospective action
against the company
in relation to its
activities in the
United States prior
to legislation being
passed in October
2006 which
effectively outlawed
the industry.
"I'm led to believe
that they may have
come to an agreement
in the U.S. It means
they would have no
more outstanding
issues with the
authorities which
would put them in
the position where
they could be bid
for," said one
London trader.
Details of a
potential settlement
agreement emerged
last month with
stipulations that
included successive
jail time and steep
fines.
"They (the
principals in
PartyGaming) will
not reach an
agreement if jail
time is part of the
condition," a source
told Gambling911.
Shareholders have
been in constant
contact with G911,
suggesting that the
abrupt departure of
former CEO Mitch
Garber could signal
some type of
"settlement".
"We believe his
(Garber's) sudden
departure has strong
implications," one
shareholder stated.
Meanwhile, rival
Sportingbet's shares
hit a 52-week low
following the
arrests of two
middle managers in
Turkey on Thursday
related to that
country's Internet
gambling laws.
The
middle-management
staff, who
Sportingbet declined
to name, are Turkish
nationals. They were
in Turkey on holiday
and were detained by
police in Istanbul
in a raid which is
believed to have led
to about 30 people
being detained. The
pair were not
together when
detained.
Sportingbet said the
detentions "related
to Superbahis", its
Turkish facing
business, and was
"aware that
individuals related
to Maslin Properties
Ltd, the group's
ex-marketing partner
in the region" had
also been held. It
said it had
"received no formal
clarification of
events from the
Turkish
authorities".
Sportingbet's chief
executive Andrew
McIver said the
group's
interpretation of
the new laws was
that it could
continue taking bets
as long as it had no
assets or operations
in Turkey. The
group's computer
processing is in
Guernsey and
customer support in
Dublin.
''Turkish law seeks
to make it illegal
to be based anywhere
in the world. Our
interpretation is
that Turkish law
ends at the Turkish
border," Mr McIver
said.
-----
Christopher
Costigan,
Gambling911.com
Publisher
CCostigan@CostiganMedia.com
Originally published
May 30, 2008 9:41 am
EST
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