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Online Casinos Company Teetering

The United States Attorney’s Office has several companies running scared – even those online casinos that exited the internet gambling market as soon as the U.S. passed the internet gambling ban (UIGEA) in October 2006. Party Gaming is one of the companies that is currently in talks with the U.S. Attorney’s Office and has complied with the USAO every step of the way in hopes of avoiding a situation like the Neteller scandal that ended just weeks ago and may have permanently destroyed the companies stability and ability to effectively operate in any are of the online casino industry. Party Gaming, like a handful of other companies, occupies a precarious position in the industry as it awaits further decisions and possible future legislation in the U.S.

Though Party Gaming has recovered from their previous low share value, the online casino company has reached a point at which it can neither proceed in the industry, nor look back and change what may result from the USAO’s investigation. Party Gaming has looked into possible partnerships, yet because the U.S. has not yet come to a firm decision, most companies are skeptical about linking to a company that could soon go under serious investigation in the U.S.

On the flip side though, the online casinos company has reported decent second quarter results, and the expectation of equally agreeable fourth quarter profits. A company release says, “While the important fourth quarter period lies ahead, the group remains confident about the prospects for the full year.”

Though the pull from the U.S. market meant a thorough company reorganization that cost more than a quarter of a million dollars, the reorganization was successful and Party Gaming is now focusing on both the European and Asian online casino markets.