Feeds

Online casino pays off US investigation

US bets remain off

Boost IT visibility and business value

Shares of online casino PartyGaming jumped 17 per cent today after it announced a legal settlement with US authorities.

The US Attorney General has been investigating the site since Congress outlawed online gaming for US citizens by passing the Safe Port Act in 2006. PartyGaming stopped taking bets from US customers, which it identified from credit card address. Prior to the ban, PartyGaming got about 80 per cent its revenue from US gamblers.

PartyGaming will pay the US Attorney General $105m as part of a "Non-Prosecution Agreement". The cash will be paid in six monthly instalments.

As part of the deal, PartyGaming admits taking bets from US citizens prior to October 2006, contrary to certain US laws. The company will continue to prevent US punters from using its services.

In December last year, PartyGaming co-founder Anurag Dikshit handed over $300m as part of a guilty plea to offences under the Wire Act. He is due to be sentenced in December 2010 and could still face jail.

US authorities have also arrested executives from Betonsports and Sportingbet.

The EU is still investigating whether the US ban breaks world trade laws. ®

Maximizing your infrastructure through virtualization

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.