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Is a Settlement Futile?

Party Gaming is rumored to have finally reached a settlement with the United States Department of Justice regarding the online casino gambling group’s pre-UIGEA gambling activities. Party Gaming has sought a ruling from the DoJ and hopes to pay the fine to the U.S. government and then move forward and put the fiasco of the U.S. online gambling market in the past. The majority of the major international online casinos immediately exited the U.S. market when the UIGEA came into effect, and most are still recovering from the loss of profits that accompanied the pull-out. And while some in the industry praise Party Gaming for attempting to fully end any future situation with the U.S. government, others wonder what the online gambling group hopes to accomplish.

Along with the speculation and rumors that Party Gaming and the U.S. DoJ have reached a settlement are the rumors that the online casino gambling group could face fines of US $1 billion. Assuming the company then pays the negotiated fines in the settlement, Party Gaming will have accomplished very little. Like all of the other offshore online casinos all over the world, Party Gaming will still have no access to U.S. players, and will be as much as $1 billion poorer.

Well, for practical purposes, Party Gaming will be able to entertain acquisition offers if it settles with the U.S. Mark Brumby of Blue Oar Securities notes, that settling with the DoJ will “give people a better idea what [the online casino group] were worth if they were open to acquisition.”

But beyond that, an analyst in the online casinos industry as well as a law professor at the University of New York-Buffalo, Joseph Kelly, comments, “They may be paying a huge fine to get this behind them, but it won't get them any closer to online betting here anytime soon.” “Soon” may be the keyword though for Party Gaming. If the U.S. does eventually reopen the U.S. online gambling market, Party Gaming will have squared away any potential problems that would later prevent the company from securing a U.S. gambling license.