Endorsed by Gambling911

Stocks Rally Following PartyGaming Settlement Deal

Written by:

Jagajeet Chiba

Published on:

Apr/07/2009

Following news that PartyGaming had settled with the US Government to avoid future prosecution, the online gambling sector, which lost significant market share since late 2006, began to rally on Tuesday. In October 2006, publicly traded European based online gambling firms were forced to exit the lucrative US marketplace following passage of the Unlawful Internet Gaming Enforcement Act.

As part of the deal reached with US authorities, Party will pay $105m in half-yearly installments by September 2012.

Jim Ryan, chief executive, said the deal marked an "important day" for PartyGaming and that it had been a "long and complex process". "We are now well placed to seize organic as well as strategic opportunities that previously were beyond our reach," he added.

Rival firms benefited from the positive news.

Shares in PartyGaming were up 15.3 per cent p to 252½p pence by mid afternoon, leading the FTSE 250 risers, with rival 888 up 8 percent to 97.25 pence and Sportingbet rising 10 percent to 45.75 pence.

Jagajeet Chiba, Gambling911.com

Gambling News

Tennis Umpire Banned for Life for Manipulating Scores and Breaking Gambling Rules

Pavel Atanasov admitted to manipulating match scores data for betting purposes, gambling on matches and “failure to report corrupt approaches,” the International Tennis Integrity Agency said.

Fish Arcades Net Two With More Than 800 Charges Filed

Law enforcement considers games to be illegal gambling while operators contend these are games of skill.

Indepth Look at How Ohtani's Interpreter Mizuhara Became Players' Lifeline

LA Dodgers super star player Shohei Ohtani became the center of a gambling scandal after it was reported his interpreter, Ippei Mizuhara, had committed a "massive theft", stealing $4.5 million from Ohtani's bank account in order to pay off a gambling debt.

Exploring the Best Online Casinos in Australia

Explore the world of internet gambling with the help of a well chosen guide written by gaming enthusiasts. This in-depth investigation examines the best Aussie gamers can play at online casinos, all of which have been screened for game selection, security, customer support, and special offers.

Chip Grabbing Felon Latest to Make the Infamous Vegas Black Book

Neal Ahmed Hearne is the latest name to be entered into the book.