Sex, money, technology, and luck

"In many countries, including the United States, the group's activities are considered to be illegal by the relevant authorities," PartyGaming says in its offering document.

"PartyGaming and its directors rely on the apparent unwillingness or inability of regulators generally to bring actions against businesses with no physical presence in the country concerned."

And one more from the Gambling Gray Lady, on the forthcoming PartyGaming (parent of PartyPoker) public offering.