Sportingbet Settles For Nearly One Quarter of PartyGaming Forfeiture Deal

Written by:
C Costigan
Published on:
Sep/20/2010
Sportingbet

 

Sportingbet has settled with the US Justice Department for just $30 million in an agreement deal entered into late Monday.  Contrast that with the $105 million that will be paid out by competing online gambling firm PartyGaming.

The father and son tandem of Barry and Stuart Slotnick represented Sportingbet.

Stuart Slotnick spoke to Gambling911.com late Monday.

“As legal counsel for Sportingbet we tried to get them the best deal,” Slotnick said.  “The market will look at the number positively.  It is a great settlement and Sportingbet can now move forward without fear of prosecution.”

The deal is non-binding with the states, however.

In 2006, Sportingbet Chairman Peter Dicks was stopped and subsequently arrested at New York’s JFK Airport for an outstanding arrest warrant issued by the state of Louisiana.  Authorities there claimed that Sportingbet had illegally targeted citizens of that state.  Dicks was quickly released by New York authorities, who refused to have him extradited to Louisiana.  He later settled with authorities in that state. 

Should something similar occur in the future, Slotnick noted that “the Department of Justice would bring to the state’s attention that they entered into this agreement.”

And the non-prosecution agreement paves the way for Sportingbet to enter the U.S. online gambling market.

Gambling911.com obtained a copy of the agreement which reads:

“Nothing in this agreement shall prevent Sportingbet from offering Internet gambling services in the U.S. should the law subsequently be changed to allow this.”

Slotnick added:  “This was overly prolonged and very tough negotiations with the Department of Justice and we are satisfied with the outcome.”

Christopher Costigan, Gambling911.com Publisher 

Gambling News

Other Football Lagues Seek Boost From Legal Sports Betting

Other Football Lagues Seek Boost From Legal Sports Betting

The National Football League is king when it comes to legal sports bets, but other professional gridiron leagues are also looking to embrace and profit from it.

Betcris Supports Venezuela Aid Live

Betcris Supports Venezuela Aid Live

Betcris, pioneer in the online betting industry, is proud to support Venezuela by participating in Richard Branson’s initiative: Venezuela Aid Live. The goal is to raise $100 million in humanitarian aid for the Venezuelan people.

Kentucky Races to Legalize Sports Betting

Kentucky Races to Legalize Sports Betting

Kentucky took the first step to legalizing sports betting on Wednesday as a legislative committee strongly endorsed a bill that one estimate says would bring in at least $20 million a year in new taxes.

Gambling Regulators Authorize Settlement to End Wynn Lawsuit

Gambling Regulators Authorize Settlement to End Wynn Lawsuit

A settlement is pending in casino mogul Steve Wynn's lawsuit seeking to block the release of Massachusetts' investigation into allegations of sexual assault against him.

North Dakota House Passes Bill to Legalize Sports Betting

North Dakota House Passes Bill to Legalize Sports Betting

North Dakota’s Republican-led House reconsidered and passed legislation Wednesday that would allow legal betting on college and professional sports, reflecting a relaxation of anti-gambling attitudes in recent years in the highly conservative state.

Syndicate