Market Briefs

PartyGaming-U.S. Settlement 'Several Months Off,' Brokerage Says

PartyGaming's mercurial shares fell nearly 8 percent in Tuesday trading as one brokerage said a settlement with the United States Department of Justice is "still several months off."

In a research note, Richard Carter, an analyst at Numis Securities in London, said that talk of an imminent settlement is "premature."

Mr. Carter said that while PartyGaming was unwilling to provide a specific number, he projects the settlement could total between $24 million and $150 million.

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Weekly Statistics from Bloomberg.com

Listing

Low Close: 277.5 pence ($5.49)

High Close: 300 pence

Weekly Change: - 7 percent

Market Capitalization: £1.08 billion ($2.13 billion)

Questions Linger over Sportingbet's Turkish Future

In the wake of two arrests in Turkey, and having scaled back its operation targeting the country, Sportingbet will for the meantime carry on with Superbahis.com, an offering that has proven successful in a Turkish online market slim on commercial operators.

"It's business as usual," George Hudson, a spokesman for Sportingbet, told Interactive Gaming News on the release of the company's third-quarter results Tuesday. "The Web site is still operating, and Sportingbet still intends to continue, and is still carrying on, its business."

Having reduced its exposure to Turkey by nearly half between the second and third quarter of this year, revenue from casino and poker -- offerings the company said were "disproportionately popular" with Turkish customers -- was negatively impacted. Casino was down 3 percent, and poker, 18 percent, versus the second quarter of 2008.

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Weekly Statistics from Bloomberg.com

Listing

Low Close: 34.75 pence (69 cents)

High Close: 37.25 pence

Weekly Change: - 4 percent

Market Capitalization: £159.1 million ($314.2 million)

ESI Entertainment Settles with U.S. Justice Dept. for $9.1 Million

ESI Entertainment Systems Inc., the parent company of electronic payments processor Citadel Commerce Corporation, last week agreed to pay $9.1 million to settle conspiracy charges brought by the United States government.

Following a 14-month period of negotiations with Michael J. Garcia, the United States Attorney for the Southern District of New York, ESI agreed to a deferred prosecution agreement to avoid facing charges of "conspiracy to conduct illegal Internet gambling."

Anthony B. Greening, chief executive of ESI in Burnaby, British Columbia, said in a prepared statement Thursday that the settlement was made in the best interest of the company and its shareholders.

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Weekly Statistics from Bloomberg.com

Listing

Low Close: 26 Canadian cents (25 cents)

High Close: 36 Canadian cents

Weekly Change: + 15 percent

Market Capitalization: 4.2 million Canadian dollars ($4.1 million)

Note: Trading in ESI's shares was suspended on June 5, 2008, and has not resumed.