PartyGaming
Pays to End Dispute
As reported by the This is Money
News: "Internet casino group Empire Online
will be celebrating a royal flush today, after
rival PartyGaming agreed to shell out $250m
(£144m) to end a dispute over their gambling
ventures.
"This
is the equivalent to 50p per share for Empire,
which closed up 7¼p at 135p.
"The
deal settles a lawsuit by Empire last November,
after PartyGaming decided to ringfence its poker
players so customers on 'skin' websites such
as Empire-Poker.com could not join in.
"This
was a blow to Empire, which had piggy-backed
on its link with PartyGaming when it floated
last year.
"In
return for the payout, PartyGaming gets control
of the EmpirePoker.com 'skin', which had effectively
directed customers to PartyGaming's site. It
also gets AceClub.com and Starluck-Casino.com…"
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