It has also agreed certain obligations over its future conduct in the United States
Sportingbet settles with US authorities for us$ 33 million
(US).- Online bookmaker Sportingbet is the latest gaming firm to settle with the US Department of Justice over illegal internet gambling, clearing the way for it to take part in the wave of industry consolidation currently underway.
2010-09-21
Reading time 27 seg
The firm has agreed a Non-Prosecution Agreement for activities related to its internet gambling business in the US between 1998 and 2006.
Sportingbet will pay the Justice Department us$ 33 million in three instalments and hand over information on its former US internet gambling business. It has also agreed certain obligations over its future conduct in the United States.
"This settlement enables Sportingbet to draw a line under events of the past. It is in the best interests of our shareholders and we can now look to the future with increased confidence,” said chief executive Andrew McIver.
Last month, broker Nick Batram at broker KBC suggested a deal with the DoJ was “The key” for the group going forward.
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