Banks Become Wary Of Online Gambling Company

Online gambling operator, PartyGaming, once provided the largest online poker community on the Internet, that is until they were forced to exit the US market upon passage of the United States Unlawful Internet Gambling Enforcement Act (UIGEA) in 2006. They did not exclude US players right away, therefore have now found themselves under penalty of US authorities.

PartyGaming has agreed to cooperate with the United States Department of Justice (DoJ), willing to pay the penalties in an effort to return to business as usual in other countries where online gambling is still legal. However, this has cause an irritation between the company and financial institutions.

PartyGaming has put a great deal of effort into expanding their online gambling ventures by acquiring smaller companies that would not likely have survived the transition out of the US market. PartyGaming now finds themselves at the mercy of these financial institutions, how are much less willing to offer funding for the companies future acquisitions.

With what could be a very hefty sum of PartyGaming's assets soon to be tied up in US courts, banks would consider loaning a large sum to the online gambling company a large risk. It has been reported that PartyGaming is currently negotiating a deal with the US DoJ that would mollify these banks' apprehensions, but no details of the proposed arrangement have been released.

PartyGaming currently operates PartyBet, PartyBingo, PartyCasino, PartyGammon, and what was once the most highly trafficked online poker room on the Internet, PartyPoker, none of which continue to accept US players.