PartyGaming to settle with U.S. for $1B?

Related Articles

• Party CEO reverses plans to sell PartyGaming shares
• Talk of PartyGaming settlement with U.S. premature
• PartyGaming appoints new CEO

PartyGaming PLC may be close to a settlement with the U.S. Department of Justice for illegally facilitating gambling in the country in 2006, according to published reports.

The settlement for PartyGaming, which is the parent company of Party Poker, may be worth as much as $1 billion, with founders Ruth Parasol and Russ DeLeon contributing the bulk of the money.

According to poker-king.com:

Earlier reports had the US DoJ demanding that the husband-and-wife founders of PartyGaming serve at least some jail time. People close to the couple said that they would never agree to this, so it is assumed that any settlement would involve no jail-time for any of the company’s founders. It is also assumed that people involved with PartyGaming would be allowed to freely travel throughout the United States without fear of being arrested.

Whole thing here.

PartyGaming’s stock also rose 10% upon the rumors being circulated on the possible deal on Friday.