PartyGaming Chief Optimistic About US Online Gambling Market

Published Saturday, August 07, 2010 - Online-Casinos.com

In most cases a company would cut their losses and head for the hills if the climate in the nation it was making money in decided th activity should be prohibited and owners will be arrested if business continues. Not so with the ever growing PartyGaming brand which has been working diligently to  have a chance to come back to America if the ban on internet gambling is lifted.

CEO of PartyGaming, Jim Ryan, speaking to reporters after the first half financial results were announced, said, obstacles to his company's re-entry to the US market are being addressed. Questions were asked by reporters who were curious as to how the company will deal with the status of founders and significant shareholders Russ De Leon and Ruth Parasol. In the wake of the merger agreement between Party Gaming and Bwin last week it was noted that the deal included a provision that if a shareholder were an obstacle to acquiring  a licensing application, the company could ask that shareholder to liquidate their equity in PartyGaming/Bwin. A multi million dollar settlement with the US Department of Justice over pre prohibition activity in the USA has been accomplished. Ryan went on to say,  "There have always been questions about Party Gaming and our position in this regard," he added, "But we have now closed the loop and I think we are very well positioned."

Ryan sounded optimistic about the company's future in the online gambling market in the USA, positive moves by the feds to legalize the industry there looked very good Ryan said.  New rules for the online gambling market mean benefits for all including the taxes gathered, and the safety and fairness that comes with regulatory integrity.
Land based casinos such as Harrah's have also been bringing the benefits to the attention of lawmakers providing a suitable legal alternative to the activity that so many American gamblers already take part in.

 


 

 

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