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PartyGaming releases statement on possible settlement with the Department of Justice
- 12-16-2008
PartyGaming has released a statement regarding recent stories regarding a possible agreement reached between the United States Attorney's Office for the Southern District of New York and Anurag Dikshit, PartyGaming co-founder and one of the company’s main shareholders.
As PartyGaming stated in its announcement on 4 June 2007, the Company initiated discussions with the DoJ with the aim of removing any uncertainty regarding the Company's legal status in the U.S in respect of the period previous to the approval and implementation of the Unlawful Internet Gambling Enforcement Act on October, 2006, when the Company’s online poker, online casino and sport betting branches allowed U.S customers to make cash deposits and play for real money. The Company cannot make any comments regarding the veracity of a report published by the Financial Times concerning the development of the agreement between Anurag Dikshit and the DoJ; however, Party Gaming has stated that such developments are completely independent from those of the Company and as such should not be considered as part of the Company's own negotiations.
Party Gaming has maintained several discussions with the Department of Justice and at this time it is discussing the final terms of a potential settlement with the DoJ. The agreement is at an advanced stage, unfortunately, the conditions of the settlement have not yet been decided and there’s no certainty that such agreement will be reached between Party and the Department of Justice.
However, based on the discussions they previously had, PartyGaming is confident that any settlement or agreement with the DoJ that involves some sort of payment or compensation by the Company will be considerably lower than what has been reported by several online gaming news sites. In addition, the Party Gaming believes that any settlement will doubtfully include a criminal plea from the Company or any of its members, including Mr. Dikshit.
Party Gaming will make an official announcement once the settlement negotiation with the Department of Justice has concluded.
