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Online Casino Retaliates

The ongoing legal saga between Empire Online and PartyGaming is reaching its peak with new developments from Empire. The online casino has stated that it will take legal steps and launch litigation against PartyGaming, its former business partner. Online casinos members of the online gambling site anxiously wait to see what will happen to their favorite online casino.

Since June, Empire has lost more than half its market value. ‘The company seeks substantial damages and injunctive relief from PartyGaming,’ Empire said when it revealed that it was holding ‘confidential arbitration proceedings’ with an unnamed PartyGaming subsidiary. The online casino has made a claim of ‘several hundred million dollars’ which will most likely be settled in the law courts of Gibraltar. The retaliation and fight by the online casino might be prolonged due to a statement made by a spokesman from PartyGaming, claiming that Empire’s move was a ‘pantomime’ of the holiday season.

After PartyGaming ‘ring fenced’ its ‘skins’ partners, of which Empire Online was one, online casino players who were members of Empire were abandoned, playing poker with fewer players. This is why the shares of the popular online casino dropped dramatically. Additionally, many Empire investors feared a loss of online casino players, speculating that these gamblers would move to the new Party Poker site which was run exclusively by PartyGaming. With no known outcome or ruling, this online casino dilemma and legal confrontation does not seem to have a resolution approaching in the near future.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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