Poker Coverage: Poker Tournaments Casino News Sports Betting Poker Strategy
Wsopbanner

PartyGaming, 888 to Stop Dealing In US Customers

Site Will Not Allow Real Money Play for Americans if President Signs Bill

Print-icon
 

The parent company of PartyPoker, PartyGaming, and 888 Holdings, today announced that each is preparing to stop dealing with real-money customers located in the United States if the President signs the bill designed to stop online gambling that was passed by Congress this weekend.

Officials from PartyGaming expect President Bush to sign the Safe Port Act into law within two weeks. Proponents of the anti-online gambling bill had to attach their bill to the Safe Port Act in order for it to pass. Click here to read about it.

In a statement, PartyGaming said the new legislation, if signed into a law, will make it "practically impossible to provide US residents with access to its real money poker and other real money gaming sites." Therefore, the company decided to suspend doing business with US residents if the President signs.

PartyGaming's shares plummeted almost 60 percent with the news, as did all the online gaming stocks traded on the London Stock Exchange. Shares of 888 Holdings fell to 108.25 from 146.5.

Mitch Garber, PartyGaming's CEO, had this to say about the law change:

"This development is a significant setback for our company, our shareholders, our players, and our industry. While US horse race betting, state lotteries, fantasy contests, and certain other online gaming activities have been exclusively protected under the new law, we are disappointed that the popularity and skill of poker in particular have not also been specifically protected," Garber wrote. "The Board respects the laws of the US government, and will continue to analyze their applicability, but also continues to believe that a regulatory framework for online gaming, including poker and casino gaming, is the only sustainable long-term solution."

Click here to read about what this means to online poker players.

 
 
Tags: poker law
 
 

Comments

aliqat
over 15 years ago

How about helping us in Washington State, where online poker is spelled out in the law that went into effect 06,06,2006 which makes online poker a class C felony. We need help to reverse this law which is far more strict and makes playing poker more risky due to loss of cival rights if proscuted. Also the head of the Washington State Gaming commusion stated they will prosucte online poker players. To ignore us is inviting other states to write simular laws which would be much worse then the new federal law.

 
Reply