Why Partygaming, Sportingbet & 888 left?

[Richas]

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I dont understand how party and the other listed companies can be criminal enterprises since they have no presence in the US and presumably have not broken any laws in Gibraltar where they are based or anywhere else whose laws they have been subject to.

Just because the US decides something is illegal doesnt make it illegal everywhere else surely. They can legislate and prevent US banks etc from handling gambling transactions but surely they have no power whatsoever to legislate against companies not based on US territory.

Sorry if i seem retarded here but i just dont get it.

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OK I'll have another go. You are right that they are not committing a criminal offence in the UK by taking money from a US customer but they are breaking the law in the US. As it is not an offence in the UK they cannot be extradited for this nor can they be prosecuted in the UK - they could only be prosecuted if they went to the US and were arrested.

The rules for the stock exchange listings apply though and they include not allowing companies to behave illegally wherever they operate. If you buy a London Stock Exchange share they have to be audited they have to report and they have to obey the law wherever they operate. This is important to the stock exchange as their regulations act as a protection for investors which in turn helps the company by giving them greater respectability. The stock exchange has these rules and if you want to list on the LSE you have to meet them. Crucially the owners need the listing to be able to buy or sell their shares. If they did not comply their shares could be suspended and the company delisted, this would be even worse for the shareholders than the large falls as a result of this legislation. The LSE just like New York or Tokyo will not let companies be listed if their business is illegal where they operate.