This just in from the "Let's Make a Deal Department", the newswires are buzzing with the story that PartyGaming PLC has reached a non-prosecution agreement with the US Attorney's Office for the Southern District of New York.

The amount of the bribe fee? Only $105 million. To be paid in installments up until 2012.

Now, you might ask yourself, "Did he just say only $105 million? There's nothing only about $105 million."

You may be right, but we also have to put this in perspective.

As the Wall Street Journal notes: "The sum is broadly in line with market expectations."

That being said, only last December, one of Party's founders, Anurag Dikshit, agreed to pay $300 million to avoid prosecution.

So... one of the founders personally has to pay almost three times what the company has to pay? That doesn't seem right.

It appears Mr. Dikshit forgot the wisdom of Wade Boggs... never swing at the first pitch.

A Wider Perspective

I can't get over how fast things are suddenly moving in this industry.

Just last week, the US Attorney Catherine Hanaway caved  settled with former BetOnSports CEO, David Carruthers.

This week, PartyGaming settles in a deal that can only be described as sweet for PartyGaming.

$105 million in eight payments over the next 40-odd months? Likely backloaded with escalating payments?

Well, how much do you think Party would be paying in taxes over that period if online gaming were legalized?

Let's not even mention the fact that Party's stock has shot up already over 15% on the news, which more than covers the cost of the bribe fee.

This is a fantastic deal for PartyGaming.

It's becoming obvious why Barney Frank's rumored legislation to repeal the UIGEA has been taking so long to get tabled.

I used to think the reason for the delay was because Barney was so busy trying to sort out the bailouts and stimulus plans.

Now, I think that maybe Barney was told to wait until all outstanding legal matters were settled before proceeding any further, in order to minimize the debate and opposition.

Next up?

Look for settlements from Sportingbet and 888 in the next couple of weeks. Then we'll see some legislation from Barney Frank.

It's happening, and it's happening fast.