• Sportingbet Chairman's Arrest Stuns UK Online Gaming Industry

    12 September 2006


    Linux Insider
    Scotland on Sunday
    09/11/06 9:22 AM PT

    The New York State Supreme Court released Sportingbet Chairman Peter Dicks on $50,000 Friday. He is required to turn over his passport and stay in New York City under terms of the release. Shares in Sportingbet fell 38.5 percent in London on Monday, having dropped as much as 43 percent in early trading….

    New York police pulled him in as he disembarked at John F. Kennedy Airport. As part of an ongoing investigation into Sportingbet, the arrest has sent an intimidating message across the Atlantic to the online gambling industry….

    Last night, staff at rival online gambling firm PartyGaming were told travel to the U.S. was a personal decision. Few would blame them if they canceled their visits stateside….

    On Thursday, shares were immediately suspended at the company’s request, while other sector stocks plummeted on the news. Analysts who have scrutinized the indictment of Carruthers and seven others on racketeering and other charges have said the U.S. authorities mean business….

    Part of the reason is that there is a long history of corruption in sports betting in the U.S., which dates back to the fix of the 1919 baseball World Series. Both the Republicans and Democrats are vying to win votes from the Bible belt electorate ahead of this year’s mid-term elections….

    Dicks will now face a hearing on Thursday as to whether he will be extradited from New York, where he was arrested, to Louisiana….

    Meanwhile, PartyGaming and others are seeking to diversify into other markets, such as Asia, where gaming is a way of life — while firms, such as Playtech, that supply licensed software to online casino, poker and bingo operators have taken to issuing statements to the market distancing themselves from online gambling….

    To read the complete article, go to Linux Insider

    Related News

    • Irelandbetonline

      Gambling News

      Sportingbet Stays in Irish Market Too Long by Accident30 August 2015

      Online gambling law is constantly changing, and the fact that different operators have to work with regulatory entities in different countries, states and provinces all over the world means that there are going to be some mix-ups from time to time. Sportingbet found this out the hard way when they allowed around 200 Irish players to make bets they weren't supposed to take due to new licensing processes. How This Mistake Happened

      Read full article
    • Newspaper

      Gambling News

      Sportingbet PLC to Forfeit $33 million to Settle U.S. Online Gambling Charge21 September 2010

      UK Internet gambling company Sportingbet Plc agreed today to forfeit $33 million that it provided to US customers in a deal that they hope will allow the company to resume U.S. online gambling operations sometime in the future if the laws are changed. According to a statement made by Sportingbet as part of this agreement with New York, the company offered online gambling to U.S. residents from 1996 to Oct. 2006.

      Read full article
    • Newspaper

      Gambling News

      Owner of Lucky 18 Casino Arrested in Israel 16 September 2009

      Hold on to your socks, the wars against online gaming are spreading far and wide. On Thursday night, Asi Vaknin, Naftali Goldman, and Yonatan Grimberg were arrested in Israel by detectives from the police International and Serious Crimes division. They are suspected of money laundering and Vaknin is also suspected of making threats. When questioned for several hours, he maintained his right to remain silent.

      Read full article