Online Casino Transfer: News - Party Gaming Makes Clear Intentions

05/07/2010		Online Casino Style: News Party Gaming Makes Clear Intentions
Home History Games News Dictionary		As more opinions are gravitating towards the probability that legalization of online gambling in the American market is very well in the foreseeable future, a few key internet casino groups are preparing for the inevitable with key positioning strategies now. Party Gaming, one of the world leaders in the online gambling markets, is based out of Gibraltar, and known to be a strong presence in nearly all of the existing markets. As such a dominant player in the industry, they are among the first to confirm their intention of entering the US market, if it should become available to offshore casino groups. The biggest step in that direction was the multi-million dollar settlement that Party Gaming secured with the US Department of Justice last summer, effectively erasing their criminal history of providing internet gambling services to US players following the passage of the Unlawful Internet Gambling Enforcement Act in 2006. That slate having been wiped clean provides the springboard needed to begin relationships with US companies, partnerships that will be essential with the legalization law that many agree, will most likely mirror the French efforts to favor domestic companies. According to a report by the Reuters news agency, it is already in casual talks with a number of US firms that could be instrumental in future agreements. Jim Ryan, the chief executive officer for Party Gaming was able to confirm, saying that they were indeed encouraged by the progress made by both Congressmen Barney Frank and Jim McDermott in passing anti-UIGEA bills. The fact that many estimates agree that such a change in legislation could mean as much as $42 billion in tax revenues over the next ten years is a key point in motivating conservative politicians. “We're hearing rumours that we're going to get support from the [US] land-based operators for online gaming so it seems like momentum is building,” said Ryan. “We are talking to a number of US entities about doing business with them when the US market regulates. It's positioned us for growth from a mergers and acquisitions perspective and, from an operational perspective; I think it's our ticket back into the United States.”

05/07/2010

Online Casino Style: News
Party Gaming Makes Clear Intentions

As more opinions are gravitating towards the probability that legalization of online gambling in the American market is very well in the foreseeable future, a few key internet casino groups are preparing for the inevitable with key positioning strategies now. Party Gaming, one of the world leaders in the online gambling markets, is based out of Gibraltar, and known to be a strong presence in nearly all of the existing markets. As such a dominant player in the industry, they are among the first to confirm their intention of entering the US market, if it should become available to offshore casino groups.

The biggest step in that direction was the multi-million dollar settlement that Party Gaming secured with the US Department of Justice last summer, effectively erasing their criminal history of providing internet gambling services to US players following the passage of the Unlawful Internet Gambling Enforcement Act in 2006. That slate having been wiped clean provides the springboard needed to begin relationships with US companies, partnerships that will be essential with the legalization law that many agree, will most likely mirror the French efforts to favor domestic companies.

According to a report by the Reuters news agency, it is already in casual talks with a number of US firms that could be instrumental in future agreements. Jim Ryan, the chief executive officer for Party Gaming was able to confirm, saying that they were indeed encouraged by the progress made by both Congressmen Barney Frank and Jim McDermott in passing anti-UIGEA bills. The fact that many estimates agree that such a change in legislation could mean as much as $42 billion in tax revenues over the next ten years is a key point in motivating conservative politicians.

“We're hearing rumours that we're going to get support from the [US] land-based operators for online gaming so it seems like momentum is building,” said Ryan. “We are talking to a number of US entities about doing business with them when the US market regulates. It's positioned us for growth from a mergers and acquisitions perspective and, from an operational perspective; I think it's our ticket back into the United States.”