PartyGaming Close To Settlement With U.S.
Party Gaming Plc – is one of the online gambling operators that is hoping the United States government finally gets its act together and regulates the online gambling industry. While they are waiting on that to happen – they also have been on negotiations with the U.S. Department of Justice. A settlement is reported to be close in the deal. The settlement will happen in order to forgive illegal online gambling that was taken place in the United States. The company was accepting bets in the US before the government’s 2006 attempt to slow the industry. The deal could be a record amount of money. Rumors are circulating that the money paid to the U.S. could reach $1 billion. That figure could be the end result of two years of negotiating between the two sides. The$1 billion amount would also be 40 times more money than the US gave the entire island nation of Antigua for violating WTO agreements, which is a much larger law violation than that Party-Gaming had supposedly committed. Party Gaming is looking to settle the dispute. They are concerned about their shareholders in London, and do not want to risk losing any of their shareholders. They also would feel much more comfortable once the settlement is in place. 
While the settlement could mark the end of a chapter for Party Gaming, it will not be an indication into the future of online gambling in the United States. Several representatives are trying to pass a Bill that would regulate the industry, instead of isolating it.