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Partygaming Eying Legal US Gambling
4/23/10 - Gibraltar-based online gambling operator Party Gaming is still apparently intent on entering the US market, should it become accessible legally, with its multi-million dollar settlement with the US Justice Department last July forming a springboard from which it may be able to develop partnerships with US companies.
This week the online gambling giant revealed to the Reuters news agency that it is talking to potential US partners with a view to re-entering what is still the world's largest online gambling market.
“We are certainly in discussions with a few parties on a number of different opportunities,” said Jim Ryan, chief executive officer at Party Gaming, adding the cautionary statement that the talks were still in the preliminary stages, and declining to identify with whom his company was negotiating.
“There is a list of suspects who one would expect us to be talking to, given that our focus is consolidating the online gaming sector,” said Ryan. “We are talking to a number of US entities about doing business with them when the US market regulates. It's positioned us for growth from a mergers and acquisitions perspective and, from an operational perspective, I think it's our ticket back into the United States.”
Ryan went on to say that he has been encouraged by recent moves in the US by Congressmen Barney Frank and Jim McDermott to overturn the Unlawful Internet Gambling Enforcement Act of 2006. The legislators have argued that the passage of their measures would generate tax revenues of about $42 billion over ten years.
“We're hearing rumours that we're going to get support from the [US] land-based operators for online gaming so it seems like momentum is building,” said Ryan.
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Gambling News :
Wanajump Launches -
#Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.
Coral Launches player proposition betting product -
Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.
Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
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