Sep
22nd

SportingBet and US Authorities reach Agreement

London based online gambling company SportingBet has at last secured a non-prosecution agreement with the United States authorities in terms of which the company will pay the Department of Justice $33 million. The deal was finalized with the US Attorney for the Southern District of New York.

According to prosecutors in America this amount represents the proceeds of SportingBet’s illegal online gambling facility it had made obtainable to US-based players between 1998 and October 2006. Peter Dicks, the former chairman of SportingBet was arrested in Louisiana in 2006 but was subsequently released. He later returned to the United Kingdom.

SportingBet ceased to offer its services to US players after the Unlawful Internet Gambling Enforcement Act (UIGEA) came into effect in October of 2006 and the Department of Justice therefore decided not to prosecute SportingBet any further. The company had also allowed law enforcement officials to interview its staff and had cooperated fully with them.

Preet Bahara, from the office of the US Attorney for the Southern District of New York stated that any further punishment would have a negative effect on SportingBet’s legitimate business interests and employees and on its potential to enter into deals with other companies. It is hoped that the new deal will help SportingBet to move forward in terms of expansion and growth and that doors will open for the company if and when the US legalizes its online gambling industry.

Prosecutors in the US have reached similar agreements in the past with other top companies who operated in the market even before the UIGEA was passed, such as Party Gaming and Neteller.

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