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PartyPoker has a solution for US market entry
Online gambling group has a solution for US market entry
Speaking to journalists in a post-financial results conference Friday, Party Gaming CEO Jim Ryan addressed the question of obstacles to his company's re-entry to the US market, assuming that market is legalised.
The main hurdle - a multi-million dollar settlement with the US Department of Justice over pre-UIGEA activity - has already been overcome but the status of founders and significant shareholders Russ De Leon and Ruth Parasol has been raised in the wake of the merger agreement between Party Gaming and Bwin last week. if your not from the USA visit Partypoker.
The husband and wife team that founded Party Gaming with IT whiz Dikshit Anurag has not followed in Anurag's footsteps in admitting guilt and paying a large fine for alleged US illegal activity.
Ryan pointed out that the company has reached agreement with the duo in the event that their stance presents a problem to the company in regard to re-entering the United States market. He noted that the merger agreement with Bwin had included a provision that if a shareholder presented a problem regarding a licensing application, the company could require that shareholder to liquidate their equity in the company.
“There have always been questions about Party Gaming and our position in this regard," said Ryan. "But we have now closed the loop and I think we are very well positioned."
Ryan went on to sound an optimistic note on the future of the online US gambling market, noting that legislative moves were looking promising, and pointing to the advantages that a legalised market could bring to US tax coffers, land-based gambling groups, the players themselves and online gambling groups that were able to meet the regulatory requirements that will be imposed if the market is legalised.
He noted catalysts for change in the US such as the efforts of Harrah's and GTech, whose pursuit of the possibility of a legalised market has spurred other land entities to explore possible routes to online action and partnerships that could prove useful. He also observed that Party Gaming's acquisition of the World Poker Tour has led to negotiations with a significant number of US land corporates on running WPT events, opening doors for wider discussions on US market opportunities.
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.
MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
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