PartyGaming Pays $105 Million Fine
PartyGaming has agreed to pay a $105 Million fine to the Department of Justice (DoJ) in order to avoid being prosecuted for having offered online gambling to American citizens. The fine is for the period before the UIGEA was put in place when PartyGaming were still active on the US gambling market.
When the UIGEA was passed PartyGaming decided to leave the US market and since then all of the games that PartyGaming are offering have been closed to US players. They are going to keep blocking the US and will not accept any customers from that part of the world, but after paying this fine they say that they are can now move on with their plans of buying other gambling portals.
The deal that was made with the DoJ is only valid for the company and not its founders. Anurag Dikshit is one of the four persons who founded PartyGaming and he has agreed to pay a $300 Million fine to the doJ. The other three founders are Russ De Leon, Ruth Parasol and Vikrant Bhargava has yet to agree to pay any fines so they are still risking prosecution in the USA.
Yesterday PartyGaming released their quarterly report that shows that the profit is down by 2% compared to the same quarter in 2008.
When the stock market closed yesterday the PartyGaming stock was up by 15.41% on the London Stock Exchange.
Tags: Anurag Dikshit, PartyGaming, UIGEA