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  Gambling News - August 25, 2007  

PartyGaming and 888 to Pay Out US Department of Justice

ThisIsMoney.co.uk, a news site specializing in finance, has published rumors that online gambling firms 888.com and PartyGaming could be asked to pay out for operating illegally in the US market. The news from an undisclosed source suggests that $900 could be obtained from PartyGaming while 888.com could be forced to part with $120 million dollars.

These sums could be payable following the firms' departure from US markets in the wake of the Unlawful Internet Gambling Enforcement Act. However, unnamed sources at PartyGaming and 888.com have stated that they would not be prepared to co-operate with a deal that could prove adversely costly to their businesses. An alternative to a direct payout could be a share of the profits between the companies and their owners and founders. Already large sums have been paid out to owners of both firms. Reports indicate that PartyGaming has already paid 70 percent of its US profits out to its founding shareholders.

Earlier this year, PartyGaming and 888.com are said to have been engaged in talks with representatives from the US Department of Justice.

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