Shares in online casino operator rise ten percent amid rumours settlement has been reached.
Wednesday 4th June 2008
Shares in Gibraltar-based online casino operator PartyGaming have risen over ten percent following rumours that the firm had settled its case with US authorities over retrospective prosecutions.
Although PartyGaming has so far declined to comment on the speculation, any agreement would eliminate the possibility of the US Justice Department taking action against the company in relation to its activities in the United States prior to the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) in October 2006 that effectively outlawed online gambling.
'I'm led to believe that they may have come to an agreement in the US,” said one London trader quoted by the Reuters news agency.
“It means they would have no more outstanding issues with the authorities, which would put them in the position where they could be bid for.'
Shares in Gibraltar-based online casino operator PartyGaming have risen over ten percent following rumours that the firm had settled its case with US authorities over retrospective prosecutions.