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Being Attacked for Online Casino Action

The Vanguard Group has been battling within the US online casino gambling industry for quite some time now and the legal action facing this company has still not stopped – in fact it’s really only ramping up in many cases. The Vanguard Group is an investment group that operated in the US prior to the UIGEA, or the ban that blocked the offshore online casinos from further accessing US players. Like many international groups and companies that had invested money in the US gambling industry, the Vanguard Group and shares were decimated by the new US legislation back in 2006.

Since that time though the Vanguard Group has faced lawsuits within several US states from groups looking to recoup some of their funds. The key though is the fact that the Vanguard Group legally invested these US funds at the time, the company had no way to predict that the US government would pass the UIGEA and block offshore online casinos. The newest case is taking place in the Delaware court system and many within the industry predict the courts will rule that the Vanguard Group’s actions were legal at the time, and therefore not within the realm of compensation.

The only part of the case that starts to get sticky is the fact that several key online casinos and payment processing companies had begun to publicly release statements that alluded to the fact that the US government did not view internet gambling as a legal activity. The warnings from Neteller and PartyGaming were released in their prospectus’ well prior to the November 2006 UIGEA. This fact could change the outcome of some rulings.