PartyGaming to Pay U.S. Government $105 Million
PartyGaming Plc, the parent company to the much missed daily donkfest known as Party Poker, has agreed to pay the U.S. American government $105M "to settle charges that it illegally offered gambling to players in the United States," according to the Washington Post.
How PartyGaming the company got off with only having to pay $105M while one of its founders, the unfortunately named Anurag Dikshit, had to pay $300M, is beyond us. But this development does raise two important points: 1) with Dikshit having to pay $300M and with Anoop Desai's possibly elmination from American Idol either this week or one of the next two, it's maybe not the Year of the Indian after all, and 2) with the state of The EconomyTM today, we'll take a collective $405M any way we can get it.
The news sent online gaming stocks soaring internationally. Analysts believe PartyGaming's actions will lead to other settlements and industry consolidation (increasing profits for all). And the settlement could ease the way for Party Poker's reentry to the U.S. market when the murky laws sort of making online poker kind of illegal are eventually lifted.
Read the full Washington Post story here.