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Online Casino Industry Toughens

The current problem in the industry that has caused some online casinos and gambling companies to make a stir is the discrepancies between companies still accepting US gamblers and those who have firmly withdrawn from the market. The US passed the infamous UIGEA which, in essence, blocked the transactions between offshore online casino gambling companies and US players. Several prominent gambling brands chose to honor the US’s legislation and immediately withdraw from the US market. Other online gambling companies though continue to operate in the market and thus their companies are benefiting from the immense profitability of the US market.

Party Gaming is just one of the many online casinos feeling the weight of competition is a bit unfair. Party Gaming had a large stake in the US gambling market prior to the UIGEA, but once the US government passed the new legislation Party Gaming immediately exited the market. The immediate restructuring costs have shaken the core of the company’s stability but in the two years since the withdraw from the US market Party Gaming has built a very solid base of European gamblers.

According to recent statements released from Party Gaming however, the restructuring and business from the European market alone is not enough to sustain Party Gaming’s current operations. Because so much of the competition within the online casino gambling industry continues benefit from US revenues, Party Gaming’s business has slowed down and is unable to compete on that same level. Some of the results of the unfair competition is the fact that Party Gaming and companies like Victor Chandler International even have announced that they have or are cutting staff as a way to remain competitive in the current online gambling market.