Online Poker in the US getting ready for re-exploitation by Party Gaming
Posted on May 7, 2010 by John Trevors for Luckyroom.com
Gibraltar Based and London Stock Exchange Listed Party Gaming PRTY.L is confirmed to be preparing for a possible green light that is anticipated to be brought to the US online gaming market (online poker specifically) in the coming year after positive signals presented from congressman Barney Frank and Jim McDermott’s. Forecasts of changes to the currently blocked US market (as of October 2006) due to the UIGEA seem to be proving accurate after major gaming operations presenting acquisitions and merges during this past year clearly showing preparations for a possible regulated but open US market.
An announcement has been already made stating that Party Gaming which amongst others operates popular online gaming establishments Party Casino, Party Bingo, Party Poker and Party Bets is going in full throttle on preparations for a possible legalization later this year.
It is well mentioned that preparations on the Party Gaming camp were more than obvious earlier in the year as the European Super Power had acquired the rights of use of the WPT (World Poker Tour) and its website which would prove to be a most signifigant asset in the case of a possible return to the currently oligopolistic exploited US market. Party Gaming which has presented increased profits by 27% at a time when rival 888 has dropped by 10% would be one of the big beneficiaries of a possible change in legislation as it is currently in the position to be offering a full range of class A gaming products ranging from online poker to online casino to bingo to financial betting and even sports betting.
It is worth mentioning that out of the total range of products under its wing its online bingo and its online sports betting service where the two products left slightly behind but have both been attacked as to be improved and reach the calibre of its poker room and its casino games with its online bingo been more or less a solved case after the acquisition of Foxy Bingo earlier this year. As for its sportsbook the Gibraltar based gaming giant is said to be in discussion with Austrian based Bwin BWIN.VI for a possible merge of powers which would undoubtly create a new superpower.
It is worth debating if a successful bill passing on poker as a skill game and not as clear gambling would mean a green light to processing and would more or less mean chaos across the industry as online casino players would be processed from operators as poker players due to common wallet features offered at the majority of sites; this would open the boundaries of processing to underground operations which leads to the best case scenario being legalizing online gaming universally in order to avoid operations moving in to grey zones. CEO of Party Gaming Jim Ryan has announced to have set up an operation in Los Angeles powered by 38 professionals which are currently making preparations as a possible legalisation would open the boundaries for Party Gaming to license the rights of use of its software to other operators which might not be in the financial status to comply with the regulations and tax regulations which could possibly set by the US senate for operators offering their services to US tax payers.
About Party Gaming
PartyGaming Plc (LSE: PRTY) is an online gambling company, well known for its online poker room PartyPoker.com and its online casino PartyCasino.com. The company is headquartered in Gibraltar Europe and is quoted on the London Stock Exchange. PartyGaming Plc was founded in 1997 with the launch of Starluck Casino from a successful partnership of Ruth Parasol with Anurag Dikshit. Prior to the introduction of the Unlawful Internet Gambling Act of 2006 which forced stock listed or stock listed to be online gaming companies from accepting wagers from US tax payers PartyGaming Plc held the world’s largest online poker brand (based on ring game revenue and number of players). Its market share has diminished since then but it remains the fourth largest online poker room in the world and the largest European stand alone online poker room.
More information can be found at the original source of information under the Party Gaming section on Wikipedia.
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