Tuesday, April 07, 2009

PartyGaming Gives The Feds $105 Million

Some of you may remember a little poker room called PartyPoker a few years back. I'm sure you remember the PartyPoker.net TV Commercials they used to play on TV They used to accept players from the U.S. and basically controlled the majority of the online poker market.

Then, right before the government passed the Unlawful Internet Gambling Enforcement Act (UIGEA), they bailed. They gathered their stack of chips and left for more hospitable ports.

Of course, the Feds weren't quite done with them and threatened legal action for some shenanigans they were allegedly involved in. We won't bore you with the details, but suffice to say, PartyGaming CEO Jim Ryan just agreed to pay the U.S. government $105 million.

It probably didn't help his case when co-founder Anurag Dikshit (seriously, that's his name) admitted stepping all over the Wire Act of 1961. For the past couple of years, the poker industry has been waiting to see how the case would turn out.

Well, now we know. (Nice going, Dikshit.)

Apparently, PartyGaming shareholders were excited by the news. They pushed the stock up 13% on the London Stock Exchange.

On a semi-related note...

Barney Frank Wants Your Poker Chips

Barney Frank has always liked the idea of online gambling in the U.S. We like to think that he's been skulking around the low stake tables on Full Tilt as "MaryJaneXXX" or something similar. In any case, he's promised to deliver legislation by April 20th that will remove the U.S. online gambling ban.

We'll believe it when we see it.

"Seriously guys. My stack was like... this high. No, I'm serious."

Rousso Playing Poker For Poverty

Last year, Vanessa Rousso wanted to feel useful. "Being a poker player can sometimes feel like a selfish way to make a living," she said. So, Rousso created the No Limit No Profit Initiative (that doesn't actually roll of the the tongue, does it?).

Her mission? Cure worldwide poverty.

Actually, she just wants to make a little dent in it. And she's hoping to convince others to pony up some cash through charity tournaments.

If you're interested in learning more about it, visit NoLimitNoProfit.org. This is what could be waiting for you...

Just kidding, of course. Way to go Rousso!

Another week, another wrap. To recap...

  1. PartyGaming and their shareholder let out a major sigh of relief as they finally negotiated an agreement with the U.S. Feds.
  2. Barney Frank (who may be "MaryJaneXXX" on Full Tilt) wants to lift the ban on internet gambling. Go Barney!
  3. Rousso wants to fight poverty. She also looks great in red.

As always, bringing you the poker news that's fit to print.

See you next week...

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