PartyGaming to Re-Open in the United States?
Speculation abounds on a decision by PartyGaming CEO, Mitch Garber to reverse his earlier decision to sell shares in the company and to purchase an additional 3.5 million shares granted to him on options.
Garber holds 8.75 million shares of PartyGaming stock, and under a planned sale, he was to dispose of his shares between Dec. 19 and 31st. The amount of shares now in his control are double what he is required to hold under his contract.
PartyGaming is awaiting by U.S. authorities penalties and fines regarding it's taking bets from U.S. gamblers prior to the enactment of the UIGEA.
Some industry insiders are speculating that there will be a re-emergence into the U.S. market soon after the punishment is delivered. This creates an interesting challenge to U.S. law as the DOJ repeatedly states that all internet gambling is illegal in the U.S., yet companies that offer any type of gambling other than sports wagering have yet to be charged.
