World-famous online gambling company PartyGaming saw their shares rise nearly a full fifth after brokering a legal settlement with American authorities.
Prior to 2006’s controversial UIGEA under the Safe Port Act, PartyGaming took over three-quarters of its revenue from US customers. However they chose to stop taking bets from Americans after the act was passed.
PartyGaming will pay the US Attorney General $105m as part of a ‘Non-Prosecution Agreement’. The cash will be paid in six monthly installments. They are still not taking wagers from US customers.
Recently PartyGaming co-founder Anurag Dikshit paid $300m to the government but could still face prison.
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