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Rumours abound in the end of year "slow news" gap
The traditional slowdown of news over the festive season week usually revs up the rumour mill, and this year was no exception as various industry publications reported "unconfirmed rumours" that Party Gaming group could be planning a return to the American market it so recently (and some say precipitously) left.
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Thus far there has been no official statement from PartyGaming, and the reports remain unsourced and unconfirmed.
Party Gaming pulled out of the U.S. market when Senator Bill Frist managed to push through US legislation that seeks to dislocate online gambling financial transactions. Signed into law as the Unlawful Internet Gambling Enforcement Act by President Bush on October 13, the law caused major public companies to suffer substantial share price drops and abruptly withdraw from the American market which for most had constituted their main source of business.
Since the pull back, several private companies that have continued to offer online poker and casino gambling to the US market have seen business grow sharply.
STOP PRESS: As we went to press this week a Party Gaming spokesman vehemently denied that the Gibraltar-based group had any plans to return to the U.S. market unless the legislative environment changed.
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