Poker News
Pot Odds Calculator
Check Your Bets
Poker Glossary
Poker Variants
Offline Cardrooms
Poker TV Listings
Poker Movies
History of Poker
Terms of Use


Party Poker Founder Settles with DOJ

Business, 2008-12-19, by Ozone

The founder of Party Poker, Anurag Dikshit, pled guilty this week in a U.S. court for violating the Wire Act. As part of his settlement, Dikshit agreed to pay a $300 million penalty.

Party Poker used to accept real-money customers from the United States, which the Department of Justice says was a violation of the Wire Act. Although that could conceivably be proven otherwise in a trail, Dikshit voluntarily traveled to the U.S. to make this settlement. His reasons for doing so are not entirely clear. Apparently, Dikshit viewed a forfeiture of $300 million to absolve himself of legal troubles with the U.S. government to be worthwhile.

On news of this, PartyGaming's share price rose 27%. Dikshit's settlement paves the way for the company itself to clear its name with the DOJ. If this happens, it could make PartyGaming more appealing as a potential asset acquisition for U.S. businesses. Furthermore, it could make a re-entrance to the U.S. market more feasible for Party Poker should online poker become regulated.

Return to Poker News

In other languages:

Free Money Offers
Create an account and get up to $88 no deposit required, use our link.

PokerTips Newsletter Sign-Up