Issue N14, 2009
April 8, 2009
Party Gaming Reaches Settlement with US DOJ
The Gibraltar based UK gaming operator, Party Gaming, has ended years of nail biting negotiations with the US Department of Justice over alleged illegal online gambling activities in the United States. The charges brought against the company incorporated the years prior to the Unlawful Internet Gambling Enforcement Act. The company pulled out of the US market in 2006. Under the terms of the non prosecution deal, Party Gaming will need to pay the United States $105 million over a period of 3 years, ending in 2012. The case against Party Gaming will then be closed.
In a statement, Party Gaming said: “Prior to 13 October 2006, certain of the US customer transactions intended for PartyGaming that were processed by third parties, and other gaming and payment related activity were contrary to certain US laws.”
The company is now looking forward to concentrating on its growth opportunities, which have been kept on a low burner until the case with the US Department of Justice could be solved once and for all. “We are now well placed to seize organic as well as strategic opportunities that previously were beyond our reach,” said Party Gaming Chief Executive Officer, Jim Ryan.
Jadestone Wins Award for New Product
DiceArena, the new product introduced to the world by the Swedish based software company, Jadestone, has won one of the most prestigious awards to date – the Online Gambling Magazine Top Innovation Award for 2008. The product incorporates several top games, including Shoot the Moons and Dice Hold ‘em, and is already offered by some of the best gambling operators in the industry, including Nordic Bet, Gala Coral, Paf and Bwin.
Tobias Nissen, who serves as the Business Development Director at Jadestone, said about the company’s prestigious award: “It's certainly challenging to break new ground. But at the end of the day, it's incredibly satisfying to bring new and exciting games to the market. And getting the kind of recognition we just got from the Gambling Online Magazine is extra icing on the cake for everyone involved.”
“We've just started the dice game journey," continued Nissen. "We already have a strong line up of partners behind us, and more are on the way. Clearly, we're in for an interesting journey with many opportunities to continue innovating - both in the multiplayer games and in the supporting functionality.”
Cryptologic Signs Lucrative Slot Deal with Gala Coral
Several top online gaming sites operated by Gala Coral will soon be able to offer their players ten excellent new games created by leading online software provider, Cryptologic. According to the a statement by the two groups, the lucrative ten year deal will see new slot games being rolled out at Eurobet.com, GalaCasino.co.uk, galabingo.com and Coral.co.uk within the next few months already.
“Cryptologic's strategy to focus on its internet casino and branded naming businesses is paying off with a steady stream of new customers - including top gaming operators such as Gala Coral,” said the Chief Executive Officer of Cryptologic, Brian Hadfield. “Players consistently mention that Cryptologic has the world's best internet casino software and it's exciting to see that major operators share their confidence in our games. The result is another deal that will enhance Cryptologic's top and bottom line results in 2009 and beyond.”
Gala Coral was also naturally pleased about the deal and the Joe Coughlin, speaking for the group said: “Cryptologic has some of the world's leading branded slot games, so partnering with them makes perfect sense. Together, we will ensure that customers playing on our websites will continue to enjoy the finest entertainment and gambling experience.”
Intralot Enters Italian Online Poker Tournament Industry
The Greek based lottery services provider, Intralot, with operations in nearly fifty countries around the globe, has announced that it is entering the Italian online poker tournament market, thanks to a deal signed with the UK gaming group, Party Gaming. Intralot was the first company to join Party Gaming’s Italian poker network that was recently launched.
The lucrative business to business deal means that both Party Gaming and Intralot will be able to offer their customers a wider range of games, software and playing options and give them a major advantage in the increasingly competitive world of online gambling.
"Our agreement with Intralot represents another significant step for us as we aim to create a strong business to business operation,” said the Chief Executive Officer of Party Gaming, Jim Ryan after the signing of the deal.
“We are confident that our first cooperation in Italy will set the basis of a fruitful partnership in various markets globally and will enhance Intralot's own online gaming solutions and services,” added the Chief Executive Officer of Intralot, Constantinos Antonopoulos.
The new poker service will be marketed through Intralot’s retail betting stores in Italy, which number around 600.