Sportsbook.com acquired by private investor group.

[cisco]

From ******-

Breaking News: Sportsbook.com acquired by private investor group.

We were able to confirm this news this afternoon from a contact higher up within their organization. All the US facing sportsbooks within the old SportingBet PLC family were sold to a private investor group. This news is very positive for the sports betting industry. With the exception of Bet365, it now appears that all the major players in the sportsbook industry plan to continue servicing the U.S. market. Unfortunately, online Poker cannot say the same thing and has taken a major hit with this legislation.

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Sportsbook.com guarantees "business as usual" as company is bought by management and private investors
Thursday October 12, 8:15 pm ET

DUBLIN, Ireland, Oct. 12 /PRNewswire/ - The management team of Sportsbook.com, the largest online sportsbook and casino on the planet, today announces its successful leveraged management buyout of sportsbook.com and other U.S. facing brands from Sportingbet Plc. Sportsbook.com will now operate as a private company with offices in Dublin, Antigua, Vancouver and San Jose, Costa Rica.

As a result of new U.S. legislation aimed at preventing financial institutions from handling transactions with online gaming companies, Sportsbook.com's parent company Sportingbet Plc has decided to cease accepting wagers from customers in the United States, effective immediately.

Sportsbook.com, now in private hands, remains open for business for its customers. Sportingbet sold sportsbook.com to the existing management team and a group of investors who will continue to run the company in the same innovative way that has twice earned it eGaming Review's award as the number one U.S. facing sportsbook.

Transactions continue to remain secure, all personal information remains completely confidential and customer accounts are safe.

Sportsbook.com values the support and enthusiasm of its customers and the new owners of the company intend to respect and continue to earn their trust.

About Sportsbook.com:

Sportsbook.com is the largest sports book and casino on the planet, where millions of adult Americans bet on sports, play poker and enjoy blackjack and other casino games online in a secure environment.

Twice named the "Best US Sports Book" by the industry's top magazine (2005, 2006), eGaming Review, Sportsbook.com has been leading the online gaming industry since 1996. Dwarfing its nearest competitors in the US, Sportsbook.com has been the first to achieve every significant industry milestone, from record turnover to active users to number of bets - achieving a peak of fifteen bets per second. As the US online gaming leader, the firm and its products have been featured on CBS 60 Minutes, CNN, ESPN, Wall Street Journal, Barron's, Financial Times, USA Today and in every major newspaper in the US.

Sportsbook.com is now privately owned with offices and representatives in Costa Rica, Ireland, Antigua and Canada. Recognized for its outstanding service to its customers, the management team who built the brand remains in place, committed to providing the same excellent service.

 

[BADTODABONE]

got an e-mail from them.....

..............

With the recent passing of law effecting financial institutions? transactions with online gaming companies, Sportsbook.com?s parent company, Sportingbet PLC, has decided to stop taking wagers from customers in the US effective immediately.

Does this mean you can?t bet on sports or play blackjack online anymore at Sportsbook.com? Hell no.

Sportsbook.com is open for business as usual. Better than usual, in fact, see below.

Sportingbet PLC has sold Sportsbook.com to the existing management team and a group of investors who are continuing to run Sportsbook.com just as always?or perhaps even better than before.

So, as always, your transactions remain secure, your details completely confidential and your account safe with eGaming Review?s number one US facing sports book for the second year running-- Sportsbook.com

If you have any questions about this change, please email service@sportsbook.com or call us on 1-800-632-6088. You can also chat to one of our Live operators right now by going to the following link and clicking on the 'Live Chat' button:
http://www.sportsbook.com/info/help.php

Better Than Usual:
10% reload bonus on all deposits from Friday morning to Sunday midnight.

Deposit over $300 this weekend and we?ll also send you our new 2007 Big Deals desk calendar.

Deposit over $1000 this weekend and we?ll send you our beautiful Sportsbook.com poker set.

Deposit using Neteller or eCheck and we?ll kick in an extra 5% on top of all that.

Terms and conditions apply, see the promotion section of Sportsbook.com for details.
You must click here in order to participate in the gifts promotion:


Welcome to the new Sportsbook.com.

The Team at Sportsbook.com.


..........

I like that'HELL NO'

 

[cisley]

Sportsbook closed my account for me today, they say NO MORE CANADIAN CLIENT'S AT SPORTSBOOK.COM

 

[ceciol]

what happens to SportingBetPLC? are they part of the sale or remaining with the parent?

 

[countinguy]

Did u guys here the sold the whole company to a private investor for $1 BUCK:shrug: :shrug:

 

[cisley]

Did u guys here the sold the whole company to a private investor for $1 BUCK:shrug: :shrug:

Had I known i woulda offer $1.50

 

[Rcxslam]

so any definitive answer for what this means for sportsbook.com?

 

[cisco]

Sportsbooks try to wiggle around new U.S. law

By the A.M. Costa Rica staff


Gambling operations are taking steps to sidestep a new U.S. law targeting financial transfers to offshore casinos and sportsbooks.

Meanwhile, some companies ? legitimate or perhaps otherwise ? are popping up on the Internet with the goal of providing a third-party intermediary for U.S. gamblers.

Thursday Sportingbet PLC said it had unloaded its popular Sportsbook.com brand to its current management team. Sportingbet said it sold the operation for a single U.S. dollar and that the current management assumed some $13.2 million in liabilities, presumably deposits from gamblers.

Sportsbook.com's Web site boasts "business as usual," and seems to have no qualms about dealing with U.S. gamblers.

The Sportsbook.com owner now is Jazette Enterprises Ltd., which also happens to be the name of a Gibraltar shelf company offered for sale since its May 22 incorporation by Aston International Limited, an Isle of Man company that deals in registering firms in various tax havens.

The names of officers of Jazette were not provided, but the Gibraltar Financial Services Commission, which supervises corporations on the tiny British overseas holding says it routinely provides information to regulators of other countries.

The deal involves operations in Dublin, Antigua, Vancouver and San Jose with about 500
employees. Sportingbet PLC said it would have cost $14 million to simply shut down the operations directed to the United States.

Although Sportsbook.com is now in private hands, Sportingbet PLC said it can buy it back for $500,000 if the U.S. law does not go into effect.

Jazette and Sportsbook.com also agreed not to take any bets from non-U.S. residents for two years, said Sportingbet PLC.

On the Internet several firms, including A & S Marketing's Anglo-American Leisure Club, have started spamming computer users with an offer to set up a system so they transfer betting funds offshore. A&S said it was in Shoeburyness, Essex, England, and said gamblers could deposit and receive online gaming funds via a secure and discreet UK link.

Peter Dicks, the former chairman of Sportingbet PLC was detained in New York on a Louisiana warrant last month. Eventually, he was let go when New York officials decided not to honor the warrant because Dicks had not been in the southern state recently.

That was before the U.S. congress passed the Unlawful Internet Gambling Enforcement Act of 2006 early Oct. 1. The measure does not directly outlaw Internet gambling, although U.S. Justice Department officials contend such activity is illegal.

But the act does put the burden on credit card companies and financial institutions to keep money from being used to pay for offshore bets.

 

[DOGS THAT BARK]

Had account with Sportingbet.com and was somewhat concerned when they cancel account and stated they had sold U.S. business and liabilities for $1 as I could not even pull up balance.
However this morning got notice from Neteller that they had refunded my balance there to my Neteller account.