Sportingbet Settles With Dept. of Justice for $33 MillionOnline Betting And Poker Company Agrees To Pay $33 Million in Non-Prosecution Agreement |
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Sportingbet Plc has reached a non-prosecution agreement with the Office of the United States Attorney for the Southern District of New York (SDNY).
The $33 million settlement will see the company, which owns Paradise Poker, pay $15 million before the end of this month, $12 million before the end of September 2011, and a further $6 million before March 31, 2012 to avoid prosecution for its online gambling activity in the U.S. between 1998 and 2006.
Andrew McIver, chief executive of the group, said, “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.
Last year, PartyPoker.com founder Anurag Dikshit agreed a $300 million settlement with SDNY which acts for the Department of Justice in these cases.
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