PartyGaming expecting settlement

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PartyGaming announced it is expecting to reach a settlement with the U.S. Department of Justice to avoid criminal charges.

?These discussions are progressing constructively and I remain confident that we will reach a resolution in 2008,? said Mitch Garber, soon-to-be-former CEO for PartyGaming. ?We’re in the midst of a process and our attorneys tell us it is moving in the right direction and at the right speed.?

Last month, the company also announced a new CEO, Jim Ryan, who will replace Garber at the end of July.