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Focusing on New Markets

With the Unlawful Internet Gambling Enforcement Act (UIGEA) still going strong in the United States, many online casinos are looking to complete disassociate with the U.S. market. Parlay Entertainment is a Canadian based internet bingo gambling company that had many U.S. facing assets prior to the UIGEA. Once the U.S. government banned online casino gambling, Parlay and the majority of the European internet gambling market chose to withdraw from the U.S. The latest announcement from Parlay concerns the company’s U.S. facing assets – Parlay has completely finished divesting itself from assets related to the U.S. online bingo gambling industry. The company announced just weeks ago that it was in the process of divesting non-core assets, and according to a Parlay spokesperson, the process is complete.

Parlay is very active in the current global internet bingo software development industry – as many online casinos look to expand their inventory to include bingo gambling, Parlay is a popular choice. Parlay, while based out of Canada, has completely removed the company from association with the debacle of the U.S. online casino gambling industry. The UIGEA has put U.S. gambling policy into a bad light (rightly so according to most in the international industry), and now that Parlay no longer retains U.S. assets, the company is further protected from future litigation from the U.S. Department of Justice.

With the continued expansion of the global online casino gambling industry, there is really no need for Parlay to retain the U.S. assets. Most industry analysts believe that the U.S. internet gambling market will not be open for a number of years at this point, so divesting assets allows the company to free that cash for new ventures. "The divestiture of these assets provides excellent value for Parlay’s shareholders while at the same time allowing Parlay to focus all of its future efforts on the development, marketing, licensing and support of Internet gaming technologies into regulated jurisdictions,” comments the CEO at Parlay Entertainment, Scott White.