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Absolute Poker Agrees to Forfeiture in U.S. Settlement

July 31 (Bloomberg) -- Absolute Poker, an Internet gambling website, agreed to forfeit assets in a settlement of U.S. claims that the company conducted illegal online wagering inside the the country.

The forfeiture will include deposited funds, receivables, hardware and intellectual property, according to court papers in the government’s lawsuit filed today in Manhattan federal court.

Assets such as the database of Absolute Poker players are likely to “substantially decrease in value if not sold soon,” according to court papers filed by Manhattan U.S. Attorney Preet Bharara’s office.

To contact the reporter on this story: Christie Smythe in New York at csmythe1@bloomberg.net

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net

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