Sportingbet

Louisiana Cancels Warrants for Execs at U.K.-based Sportingbet

Authored by Mark Hefflinger on March 22, 2007 - 1:01pm.

London - Sportingbet, a U.K.-based Internet gambling firm that saw its CEO arrested in New York last year -- under a warrant issued in Louisiana -- announced that it has resolved the matter with the St. Landry District Attorney in Louisiana, which has cancelled all warrants against current and former Sportingbet officers.

Neteller Founders Charged With Laundering Online Gambling Proceeds

Authored by Mark Hefflinger on January 18, 2007 - 12:05pm.

New York - Two Canadian men who founded the U.K.-based online money transfer company Neteller have been arrested by U.S. authorities and charged with laundering billions of dollars in illegal online gambling proceeds.

Sportingbet Chairman Resigns After Being Allowed to Return to U.K.

Authored by Mark Hefflinger on September 15, 2006 - 11:31am.

London - The chairman of U.K.-based online gambling firm Sportingbet, who was the second executive to be arrested by U.S. authorities for allegedly breaking U.S. laws against online gambling, resigned his position on Friday after a judge allowed him to leave the U.S., Reuters reported.

Second Online Gambling Executive Arrested by U.S. Authorities

Authored by Mark Hefflinger on September 8, 2006 - 2:17pm.

New York - U.S. authorities have arrested an executive from another overseas online gambling company, this time targeting the chairman of U.K.-based Sportingbet, Peter Dicks, Reuters reported. Dicks was arrested in New York on Thursday and charged with using a computer to gamble, as part of an investigation by authorities in Louisiana.

U.K. Online Casino Sportingbet Confirms Talks with Empire Online

Authored by Mark Hefflinger on September 6, 2005 - 6:14am.

London -- Sportingbet, a U.K.-based Internet betting and gaming group listed on the London Stock Exchange's Alternative Investment Market, confirmed that it is holding takeover talks with Empire Online, a U.K.-based company that provides marketing services for the online gambling industry. "These discussions are at a very preliminary stage, and there can be no certainty whatsoever that agreement will be reached and an offer will be forthcoming," Sportingbet said. Last week, Empire admitted that it received a $1.45 billion bid approach after takeover rumors caused its share price to increase sharply; the company, however, declined to identify its suitor. Quoting an unnamed source familiar with the talks, a Financial Times report said that other suitors, such as PartyGaming and 888.com, may yet make rival bids for Empire, which launched an initial public offering (IPO) less than three months ago.

tags: U.K | Empire Online | Online Casino | Sportingbet |

Online Gambling Firm Sportingbet Buys ISC for $27 Million

Authored by Mark Hefflinger on August 3, 2005 - 6:20am.

London -- Sportingbet, a U.K.-based Internet gambling firm, announced that it has acquired ISC Entertainment, an Antigua-based operator of gambling websites focused on the U.S. market, for approximately $27 million. Sportingbet said it would raise half the total by issuing about 2.7 million shares and pay the other half in cash. The company also said that it intended to use ISC's websites to drive further business to its own Paradise Poker brand. "ISC is a high-quality business, and the acquisition is a strong addition to our existing U.S.-facing brands," said Sportingbet CEO Nigel Payne. "With almost no integration required and solid organic growth prospects, we look forward to developing ISC's brands within our industry leading portfolio."

U.K. Online Casino Sportingbet to Acquire Paradise Poker for $298 Million

Authored by Mark Hefflinger on October 29, 2004 - 4:12am.

London -- Sportingbet, a U.K.-based online casino, announced this week that it has agreed to acquire Paradise Poker, a U.K.-based Internet poker website, for $298 million. The acquisition stands to make Sportingbet the largest online betting firm in the world. "This more than doubles us in size," said Sportingbet CEO Nigel Payne. "If we believed we were number one before, then we certainly are today." Sportingbet said that it currently has more than 1.2 million customers, a 30% increase compared to July last year. Sports bets increased by 36% over the same period, the company said. Paradise Poker, which boasts more than 97,000 active players, is currently the third-largest poker website in the world.

tags: Acquire | Sportingbet | U.K. Online Casino | Paradise Poker |