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PartyGaming May Face $20m in Back Taxes - 01-07-08 |
January 7 - PartyGaming, one of the world's longest-running and most successful
online gambling enterprises, will have to dip into its petty cash box to
pay a $20 million fine/tax rebate to the United States government,
in order to keep the country's 'witch hunters' off its back.
It all started many years ago when PartyGaming - like many other enterprising
and successful online gambling operations - started targeting the US
online gaming
market, given that America boasted by far the largest number of online gambling fans in
the known universe at the time (and still does).
Well, a win win scenario shortly ensued, with American online gambling fans only
too happy to deposit funds to try their luck at PartyGaming's top-rated online poker room,
PartyPoker.com, and PartyGaming only too happy to reap the resulting revenues,
as capitalistic companies are usually wont to do.
However, a dark and sinister cloud began to form over the online gambling community in the
shape of the US Congress and the US Department of Justice. Each clearly feeling that they
could no longer stand by and watch US citizens willingly spending billions of
dollars (of their own money) gambling online, while they didn't see a cent of it.
Enter the beginning of the great 'witch hunt' or 'prohibition' of 21st Century
America, where
US Congress slyly voted the Unlawful Internet Enforcement Gaming Act (UIGEA) into law
in 2006, a draconian and sneaky piece of legislation designed to prevent
American citizens from gambling online.
In the mean time, however, the US Department of Justice started shaking up the
global online gambling industry by
swooping down like vultures and arresting prominent online gambling industry executives
and
big shots. The message was clear - 'back off and leave US gambling
revenues alone!'.
So now fast forwarding back to the beginning of this story, as a 'reparation' of
sorts, the US government is seeking $20 m in 'damages' from PartyGaming for
having the balls to make oodles of money from American online gamblers while
not stopping to consider the financial feelings of the US government.
But it is not just the top online gambling operators that are feeling the
painful US bite, as similar fines (although much larger in some cases)
are being imposed upon other
large companies in relation to the generation of online gambling-related revenes.
These include top-rated Internet search engine, Google (accused off accepting online gambling
advertising at one time), leading online payment processor, NETeller, (accused of processing
online gambling related payments for US citizens), and many others.
All this writer can say is please remind me never to piss off the US government!
Fair Online Gambling Related Articles:
>> PartyGaming CEO Does Not Renew Contract - 03-05-08
>> Poker Players Alliance Spends Big on Lobbying - 02-26-08
>> 888 Signs Up Cricket Bad Boy - 01-18-08
>> Could Finland be Next to Dump Online Gambling - 01-16-08
>> Newbie Wins Bodog Poker $100k Tourney - 01-04-08
>> Poker Legend Chip Reese Passes Away - 12-06-07
>> PartyGaming CEO Shows Faith in Company - 11-27-07
>> Online Poker Cheating Investigation Near End - 11-26-07
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