Friday, March 2, 2012

Sportingbet Still Operating After Arrest

LONDON - Sportingbet PLC, the operator of gambling Web sites whose chairman was arrested in New York this week, said Friday it hasn't been contacted by U.S. authorities regarding the matter and was continuing to operate as normal.

Chairman Peter Dicks was detained at Kennedy International Airport following his arrival on a flight from London, the company confirmed in a statement, adding that he was not traveling on Sportingbet business.

Customs discovered he had an outstanding warrant issued by Louisiana authorities. The May warrant charged Dicks, who lives in London, with gambling by computer, a felony punishable by up to five years year in prison and a $25,000 fine.

Dicks, 64, is the second executive of a British Internet sports-betting company to be held in the U.S. after David Carruthers, former chief executive officer of BetOnSports PLC, was arrested in July. The company fired Carruthers, who remains under house arrest in the St. Louis area awaiting trial, and closed its U.S. Web sites.

Louisiana authorities said more arrest warrants have been issued in connection with the case but declined to provide more information.

Shares in the company were suspended by the London Stock Exchange at Sportingbet's request. Based on the Wednesday closing price, those shares were worth more than $1.5 billion.

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