The U.S. Justice Department says the
directors behind PartyGaming, the online poker
operator behind the worlds largest Poker Portal -
Party Poker which is floating in a £5 billion
pound IPO in London in the next two weeks, face prosecution
under the Interstate Wire Act, the Illegal Gambling Business
Act and the Travel Act in the United States, according to a
report in the Guardian newspaper.
PartyGaming which operates Party Poker, which
is the largest Poker Portal in the world and one of the most
popular online poker sites with U.S. gamblers. A senior
Justice Department official told the newspaper: "Any
business offering online gambling services that are in the
United States or can be accessed in the U.S. are illegal."
He added: "If they're taking bets in the U.K., and it's
legal there, that's fine; but if they're taking bets in the
United States, that's illegal, and they will be prosecuted."
PartyGaming disputes this interpretation of the law,
though admitting "uncertainty" as to online gambling's
legality. The report said the warning is likely to increase
anxiety among U.S. investment institutions, some of which
are said to be reconsidering whether to back the IPO.
Empire Online PLC (EOLEOL) shares, an online betting peer
that debuted on the stock exchange Wednesday, closed down
nearly 12%.
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