Online Casino Transfer: News - Ryan Answers Inquires About US Market

08/27/2010		Online Casino Style: News Ryan Answers Inquiries About US Market
Home History Games News Dictionary		More news already this week from the online gambling company Party Gaming, as chief executive officer Jim Ryan took the opportunity to address a number of questions in regards to his firm and the possible re-entry to the US gambling market. He acknowledged a number of obstacles for his corporation in particular, but was very forthcoming with the information, all hypothetical, based on the supposition that the American internet casino market is legalized. The primary challenge for Party Gaming will obviously be moving past their disagreement with the US Department of Justice, a case that developed around Party’s continued involvement in the US market despite the passage of the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA.) Officially speaking, the case came to a settlement last year, which cost Party millions of dollars. But the tiff with the government could be a disadvantage when it comes til to apply for an operational license. Ryan said that that obstacle – the biggest one – is not a concern anymore. Their legal settlement figuratively wiped the slate clean, he said, evening the playing field for Party with the competition. Now, forums are questioning the status of the founders of the company, as Russ De Leon and Ruth Parasol are also the main shareholders. Though their company may be in the clear, they never admitted to their involvement in the UIGEA debacle, refusing to admit guilt, and so far, have gone without paying any fines, a sharp contrast to the decisions of the third founder of Party, Anurag Dikshit, who did all those things. According to Ryan, another agreement has been made with the married couple, in the case that the US government does have an issue with their roles in Party Gaming’s structure. The merger with Bwin provided the perfect opportunity to write into contract a clause that would cover such a circumstance, as it says that if a shareholder’s involvement presents a problem with any licensing opportunities, the company(s) can demand that said shareholder liquidate their stock in the company.

08/27/2010

Online Casino Style: News
Ryan Answers Inquiries About US Market

More news already this week from the online gambling company Party Gaming, as chief executive officer Jim Ryan took the opportunity to address a number of questions in regards to his firm and the possible re-entry to the US gambling market. He acknowledged a number of obstacles for his corporation in particular, but was very forthcoming with the information, all hypothetical, based on the supposition that the American internet casino market is legalized.

The primary challenge for Party Gaming will obviously be moving past their disagreement with the US Department of Justice, a case that developed around Party’s continued involvement in the US market despite the passage of the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA.) Officially speaking, the case came to a settlement last year, which cost Party millions of dollars. But the tiff with the government could be a disadvantage when it comes til to apply for an operational license.

Ryan said that that obstacle – the biggest one – is not a concern anymore. Their legal settlement figuratively wiped the slate clean, he said, evening the playing field for Party with the competition. Now, forums are questioning the status of the founders of the company, as Russ De Leon and Ruth Parasol are also the main shareholders. Though their company may be in the clear, they never admitted to their involvement in the UIGEA debacle, refusing to admit guilt, and so far, have gone without paying any fines, a sharp contrast to the decisions of the third founder of Party, Anurag Dikshit, who did all those things.

According to Ryan, another agreement has been made with the married couple, in the case that the US government does have an issue with their roles in Party Gaming’s structure. The merger with Bwin provided the perfect opportunity to write into contract a clause that would cover such a circumstance, as it says that if a shareholder’s involvement presents a problem with any licensing opportunities, the company(s) can demand that said shareholder liquidate their stock in the company.