Results -- PartyGaming today released its H1 profits, revealing a net loss of $50.6 million in the six months ended June 30, attributable in large part to the group's October exit from the U.S. market. PartyGaming's U.S. sales were wiped out in October 2006 when the Unlawful Internet Gambling Enforcement Act (UIGEA) was enacted, barring offshore gambling Web sites from the United States. Earnings before interest, tax, depreciation and amortization increased 29 percent to $36.9 million outside the U.S., the company said in a prepared statement. Revenue fell 68 percent to $212.5 million.
Ready to Move On -- PartyGaming CEO Mitch Garber said today that his company would be ready for consolidation once the threat of retrospective prosecution in the United States was lifted. The company has been in talks with the U.S. Department of Justice (DOJ) since April hoping to work out a deal to prevent prosecution for accepting bets from U.S. citizens. Garber said the company is seeking deals in Russia and China and it was close to signing deals with big European media firms. "We will launch some very meaningful partnerships with large companies that will bring us other revenue streams," he said. Garber added he did not know how long the talks with the DOJ would go on, but he hoped there was an end in sight.
I-Gaming On the Up in Sweden -- Internet gambling is evidently on the rise in Sweden. State-run gambling company Svenska Spel told Swedish Radio News it is expecting a 40 percent surge in Internet bets over in 2007. Meanwhile, sports gambling firm ATG has reported a 30 percent increase in Web-based bets during the first six months of the year. Swedish gaming company Folkspel generated a $3.2 million turnover in the first six months of 2007 from its online bingo site, which launched just 12 months ago.
New US Watchdog? -- Consumer advocacy group America's Watchdog has released a report detailing the results of a 10-month investigation into Internet gambling sites and whether they are complying with the UIGEA. The group reports finding "little to no compliance" or, in other words, millions of U.S. citizens are still able to use their credit or debit cards to gambling online. America's Watchdog is "extremely concerned" about that online gambling sites are one of the easiest ways to get cheated and warns that gamblers may unwittingly be contributing to organized crime when they use an online gambling site. The group is advising all U.S. citizens to avoid all Internet gambling sites.
Political Backtalk -- Liberal Democrat MP Don Foster today sent a letter to the government asking them to reconsider their decision not to require new gambling advertisements to include a helpline number for problem gamblers. U.K. gambling advertising regulations will begin on Saturday. Foster wrote: "While opportunities to gamble will dramatically increase this weekend, the government is refusing to make it easier for problem gamblers to find helpline numbers. It is hypocritical and irresponsible that a government ostensibly so concerned with protecting the vulnerable will not put the simplest of safeguards in place. I have written to the Government to express my deep concern at this reckless move which flies in the face of Labor's promises to tackle problem gambling. When will ministers live up to their rhetoric and make it easy for problem gamblers to receive the help and advice they need?" GamCare helpline has also expressed its opposition to the government's decision.
Taking Action -- Indian lottery operator Sugal & Damani may challenge the U.K. Lottery Commission's decision to award Camelot a third consecutive license to run the National Lottery. Sugal & Damani has asked the commission to review its decision, but has reportedly been turned down. Sugal & Damani said it is now "considering all of its options." Two weeks ago, Sir Richard Branson called fro a formal inquiry into the lottery bidding process calling it a "farce."
Where Were We? -- The IGN staff would like to acknowledge and apologize for the delay in posting content. On Wednesday, a strong thunderstorm blew through our area and robbed us of electricity. We're up and running today, so please find and enjoy yesterday's (and today's) material . . . today.