Sues Former Owner of Empire Online Over 2006 Sale,
by James Lumley - 5th January 2009
Jan. 5 (Bloomberg) -- PartyGaming
Plc, the owner of the PartyPoker.com brand, sued
investment company Livermore Investments Group
Ltd. over the 2006 purchase of Livermore’s
Internet gambling business.
“failed to deliver a certain amount of income
under an acquisition made three years ago,”
John Shepherd, a PartyGaming spokesman, said in
a telephone interview. The suit was filed in London
Dec. 23, according to court records.
used to operate as the online gaming company Empire
Online until Gibraltar-based PartyGaming bought
its gambling business in 2006 for $38 million.
It changed its name and became an investment business
following the acquisition.
said the value of the claim is “six figures.”
He declined to give more details.
is run by Chief Executive Officer Noam Lanir,
who also founded Empire Online. Fran Read, the
company’s spokeswoman, declined to comment.
is in talks with the U.S. Justice Department to
resolve allegations over the company’s past
activities in that country, where offshore Web
gaming is illegal. The company’s founder,
Anurag Dikshit, pleaded guilty in the U.S. to
illegal Internet gambling and agreed to forfeit
$300 million on Dec. 16.
the time, the company said it was in talks with
the Justice Department on a settlement, adding
that any payment it makes would likely be “significantly
below” the amount paid by Dikshit. The U.S.
banned offshore Internet gaming in 2006.