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Party Gaming Gearing Up for Recovery

There is certainly no doubt in the minds of the many prominent online casinos gambling groups that the United States legislation has had a serious effect of the financial stability of many companies that were previously very active in the internet gambling industry. The U.S. passed the Unlawful Internet Gambling Enforcement Act (UIGEA) as a way to keep online casinos out of the U.S. market by banning financial transactions. And though the U.S. Department of Justice has addressed concerns with several internet gambling sites that continued to operate in the U.S. after the passing of the Act, other companies, like Party Gaming are in limbo while they wait for action from the DoJ about online gambling activity prior to the UIGEA.

Party Gaming is still waiting on a decision from the U.S. about possible fines that the online casino group will have to pay regarding operating internet gambling for U.S. players. Party Gaming is one of several online casinos that have had offers for consolidation, acquisition, and more – but no one will close on the deals until the situation with the U.S. is concluded.

But there is little that Party Gaming can do to expedite the U.S. this issue because of the changing political climate in the U.S. regarding online casinos. So as the company waits, it has altered the company’s non-executive directors and made some other changes concerning persons appointed as liaisons for the online casinos investors and shareholders.

Party Gaming is operating at a loss in the wake of an exit from the U.S. market and with no viable partnerships in the near future. But despite that four new directors have agreed to sign on with Party Gaming: Stephen Box and Lord Moonie are directors, while John David and Emilio Gomez are both representatives for shareholders.