by Renee Israel
Bwin.Party digital entertainment has confirmed that it is currently in talks
with two US gambling companies that could see the giant online gambling company
return to the lucrative US gaming market once it has been regulated.
The London listed Bwin.Party online gambling group is the result of a mighty
$2.1 billion merger that took place between Bwin and Party Gaming gaming
companies.
Party Gaming's online poker arm, Party Poker, was once the leader in the US
internet poker market and even had a 41% stake in the entire global poker
industry.
However, in 2006, with the introduction of the Unlawful Internet Gambling
Enforcement Act (UIGEA), Party Poker was forced to withdraw from the US market.
After long negotiations with the Department of Justice, Party Gaming signed a
deal with US authorities, where it paid $105 million in return for a clean
slate. This plea-deal added a lot of value to Party Gaming's shares and paved
the way to a deal with Bwin gambling group.
Bwin.Party online gambling group has never made it a secret that it is keen
to return to America as soon as the US online gambling market regulations are in
place. The news that bwin.party is due to enter the US gambling market
has been warmly received.
Bwin.Party CEO Confirms US Interests
The Co-Chief Executive Officer of Bwin.Party online gambling
entity, Jim Ryan said that the group was negotiating with two American
companies, with the intention to create a portal that will enable Bwin.Party to
return to the gambling market in the United States.
Ryan said that there was a reason why his group was seeking
partnership with US gambling companies.
"We had to be realistic about where we sat in the food chain,"
he said. "We figured if the US regulated it would be unlikely that we would
secure a license directly, that the laws of the land would be written to allow
existing land operators and equipment manufacturers in the US to secure the
licenses."
There is no doubt that potential US partners would also be able
to benefit from a deal with the London listed group. The Party Poker and World
Poker Tour brands are highly marketable and profitable in the online poker
world.
Ryan said that there are no promises that the United States will
ever see a legalised and regulated online gambling industry, but if things did
move in that direction, Bwin.Party had to be poised to enter.
"We have to be ready for both federal or state," he said. "It
feels good to have American taxpaying companies finally driving this."
