Just read that according to Party Gaming the will have to pay $105 million. The payment terms are until 2012, and they will be paying in installments, with the first installment being $5 million.
Its a large amount, but if it gets them out of the problem, then we think its good. The issue can around in September 2006, and there stocks lost a lot of there pull.
Currently there shares are still more than 70% lower than that day in September 2006, even though it went up 15.1% after the news of the dispute.
Jim Ryan, PartyGaming CEO said, "‘The resolution of our position with the U.S. authorities marks an important day for PartyGaming. It has been a long and complex process, but we have reached an amicable solution. We are now well-placed to seize organic as well as strategic opportunities that previously were beyond our reach.”
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Tags: Intercasino, Jim Ryan, Partygaming, stocks up 15.1%, US Players