Poker news tagged with 'bloomberg'

In January, Ira Rubin pleaded guilty to conspiracy in connection with his role as payment processor for PokerStars, Full Tilt Poker and Absolute Poker. He faced a maximum penalty of 55 years, but since he pleaded guilty many expected him to get away with a much lighter sentence. And so he did...

According to Bloomberg, Ira Rubin was recently sentenced to three year in prison and order to forfeit $5,000,000. Bloomberg also revealed that Rubin cannot participate in any business occupation related to payment processing or financial services once he's out of prison.

In December last year, one could read about merger speculations between bwin and PartyGaming in the british newspaper The Sunday Times. However, later on bwin denied that they were holding advanced talks with PartyGaming about a merge. Yesterday, almost 8 months later, PartyGaming announced that they have been negotiating with bwin for some time about a merge of the 2 companies.

Now, If everything goes according to plan and the shareholders agree to sell, PartyGaming will buy bwin for $1.76 billion and create the world's biggest publicly traded online gambling company.

Read more » PartyGaming, bwin merge to create the world's biggest online gaming company