Online Gambling Firms confident about its future prospects
PartyGaming – the world’s biggest online gaming company, has said that it is confident about its future prospects, despite the discontinuation of its US operations. The online gaming industry is ripe for consolidation once the barrier of retrospective legal action from US authorities has been removed and PartyGaming PLC is well-placed to be at the centre of such activity, according to its chief executive Mitch Garber. PartyGaming, along with rival 888 Holdings PLC, initiated talks with the Department of Justice in June seeking clarity regarding actions taken by law enforcement agencies against other internet gambling companies which had US-facing operations before the enactment of the Unlawful Internet Gambling Enforcement Act last October. We continue to move along and we continue to move towards what we hope will be considered by all a satisfactory resolution. Once that’s done, I think there’s going to be quite a lot of consolidation activity. 
(At 9.45 am, PartyGaming shares were trading at 24-1/2 pence, up 1-3/4.)