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| Version 1 | Version 2 |
|---|---|
| Partygaming seeks US resolution | Partygaming seeks US resolution |
| (about 4 hours later) | |
| Online gambling firm Partygaming is in talks with US authorities over bets it took before legislation in 2006 wiped out its trade in the United States. | Online gambling firm Partygaming is in talks with US authorities over bets it took before legislation in 2006 wiped out its trade in the United States. |
| The US law reforms effectively made it illegal for Partygaming to trade there. | The US law reforms effectively made it illegal for Partygaming to trade there. |
| Partygaming has been talking to justice officials to end threats of prosecution for accepting US bets prior to 2006. | Partygaming has been talking to justice officials to end threats of prosecution for accepting US bets prior to 2006. |
| Partygaming's shares fell as it also said recent revenues were disappointing and that chief executive Mitch Garber was to leave the firm. | Partygaming's shares fell as it also said recent revenues were disappointing and that chief executive Mitch Garber was to leave the firm. |
| 'Constructive' talks | 'Constructive' talks |
| The firm said it could not predict the outcome of the US talks, but that a conclusion may arise in the "foreseeable future". | The firm said it could not predict the outcome of the US talks, but that a conclusion may arise in the "foreseeable future". |
| Any possible settlement could also remove the worries of banks that are refusing to lend to firms like Partygaming for fear of offending US authorities. | Any possible settlement could also remove the worries of banks that are refusing to lend to firms like Partygaming for fear of offending US authorities. |
| The talks, said Mr Garber, were "moving down a very good and constructive path". | The talks, said Mr Garber, were "moving down a very good and constructive path". |
| Meanwhile, Partygaming said current trading had seen lower growth in revenues than expected. | Meanwhile, Partygaming said current trading had seen lower growth in revenues than expected. |
| But the firm - which runs the Partypoker, Partybets, Partycasino, Partybingo and Partygammon websites - said underlying earnings were still in line with expectations. | But the firm - which runs the Partypoker, Partybets, Partycasino, Partybingo and Partygammon websites - said underlying earnings were still in line with expectations. |
| Shares in the firm ended 9% lower at 25 pence on Wednesday. At their peak at the beginning of 2006 their shares hovered around 155p. | |
| The US move in 2006 caught the industry off guard, and set in motion sweeping changes which saw Gibraltar-based Partygaming withdraw from the US market where at the time it collected most of its revenue and profit. | The US move in 2006 caught the industry off guard, and set in motion sweeping changes which saw Gibraltar-based Partygaming withdraw from the US market where at the time it collected most of its revenue and profit. |