Online Casino Operator PartyGaming Sues Empire Onl (go back »)

PartyGaming PLC, the company behind such Internet casino gambling sites as PartyPoker, has filed suit in London against Livermore Investments Groups, formerly known as Empire Online, according to an article in the Bloomberg News. In 2006, PartyGaming bought Empire Online's Internet gaming business for $38 million.

Empire then changed its name to Livermore, and began operating as strictly an investment firm. But PartyGaming spokesmen allege that Livermore did not deliver the full sum of income due in the deal, and the gambling operator wants to recover a six-figure amount it says is owed it.

PartyGaming has been in the news recently for the settlement paid by co-founder Anurag Dikshit to the US Department of Justice. Dikshit pled guilty to violating US laws against online casino gambling and paid a fine of $300 million, even though the validity of charges is highly dubious.

While the company is also in negotiations with the US government to square away any difficulties regarding retroactive prosecutions by US law enforcement, a spokesman for PartyGaming said any sum to be paid would be significantly less than Dikshit's payment.

PartyGaming is listed on the London Stock Exchange, and news of impending deals freeing the company from further US persecution have led to upswings in the stock's value. Many feel that settling US charges would allow the online casino operator to re-enter the US market if US laws were to change, a distinct possibility with a new Congress and President.

In Online Casinos