All charges dropped against Sportingbet

[Dr. Jack]

LONDON — Online gambling company Sportingbet PLC, forced to quit the U.S. after lawmakers effectively made the business illegal, said Wednesday that it reached an agreement with authorities in Louisiana about outstanding arrest warrants relating to its operations.

The company "has reached an amicable resolution with the St. Landry district attorney in the state of Louisiana," Sportingbet said in a statement. "All related warrants issued by the Louisiana State Police have been canceled with immediate effect."

"Both Sportingbet and the St. Landry district attorney now consider the matter closed."

Sportingbet's former chairman Peter Dicks was arrested in New York last year in a clampdown on Internet gaming. He was released when New York Gov. George Pataki declined to sign a warrant extraditing him to Louisiana, where he was wanted on charges of illegal online gambling. He later resigned his position at Sportingbet.

The company has since sold the once-lucrative U.S. business to Antigua-based Jazette Enterprises Ltd. in a move it estimated would cost it 210 million pounds (US$393 million; euro308.2 million).

Sportingbet shares rose 5.2 percent to 66 pence (97 euro cents; US$1.29) on the London Stock Exchange.



AP