Partygaming 'talking' with the Feds/DoJ

[Mousey]

UPDATE 1-PartyGaming in U.S. gambling crackdown talks
Mon Jun 4, 2007 8:11 AM BST
Email This Article | Print This Article | RSS [-] Text [+]
(Adds background)

LONDON, June 4 (Reuters) -
Online gambling firm PartyGaming (PRTY.L: Quote, Profile , Research) said on Monday it was in talks with U.S. authorities following the recent spate of arrests of industry executives, after the U.S. effectively outlawed Internet gambling last year.

PartyGaming said it had initiated talks with the United States Attorney's Office for the Southern District of New York and had been responding to requests for information.

It added that it was too early to assess the likelihood of any particular outcome of the discussions.

The U.S. crackdown .....

LINKY to the remainder of the article.

[Mousey]

.....and had been responding to requests for information...

What no one ever tells us is just exactly what kind of information the DoJ is prying out of all these companies they're 'investigating'. Of course, releasing that info would hinder the 'investigation', I'm sure.

[dominique]

It is a mystery to me how someone can have broken a law before the law existed.

[jetset]

LOL - the DoJ has never let something as unimportant as the validity of online gambling law to slow them down....

Seriously - the UK analysts are saying that this is all about business rather than law.

Being scared to enter the US; having the possibility of a legal threat impeding possible merger and acquisition deals and investors unhappy with the Damocles sword effect of such a threat are all good business reasons for trying to cosy up to the DoJ.

It may mean paying a fat settlement to clean the slate a la Sportingbet's $400 000 to get Peter Dicks off the Louisiana hook, but weighed against a better share price and more investor confidence that may be a small price to pay.

The Party Gaming statement said that it has initiated the contact, but some sources are suggesting that this was triggered by the DoJ attempts earlier this year to get some of the big online gambling companies and financial outfits to give them information.

It's interesting to speculate on exactly what sort of information Party Gaming might be prepared to divulge.

[Simmo!]

It may mean paying a fat settlement to clean the slate a la Sportingbet's $400 000 to get Peter Dicks off the Louisiana hook, but weighed against a better share price and more investor confidence that may be a small price to pay.

Ah the old "potection money". Reminds me of someone, can't think who

[lots0]

It's interesting to speculate on exactly what sort of information Party Gaming might be prepared to divulge.

My bet is that every single piece of information that party Gaming knows the DoJ now knows...

Names, dates, addresses and amounts...

The guys at PG are spineless creeps that will use whatever information they have to "buy" their get out of jail free cards.

My 2p