ONLINE GAMBLING EXEC SLAIN

21 December 2007

CEO of sportsbetting site found dead in Vancouver street


The Vancouver Sun reports that the bullet riddled body of 45 year old CEO of the Costa Rica-based online sportsbetting website 777betz.com, James Po Ho Cheung, was found in his car parked outside his residence Saturday. The police have yet to establish who killed him and the motive.

Residents in the area reported gunshots in the early hours of the morning, leading to police patrols finding the dead man. An autopsy was performed Monday and both the crime scene and Cheung's vehicle are undergoing forensic inspection.

Cheung was president and CEO of 777 Sports Entertainment Group, whose Internet gaming operations are conducted from San Jose, Costa Rica. Last year the company announced that operations at subsidiary 777betz.com would be expanded using Chimera, an online gambling wireless platform.

The parent company was founded in 2005 and is listed on the US pink sheets as an over-the-counter stock priced at around 19 cents, giving the company a market cap of around $6 million. There are 112 investors and the operational arm - 777betz - offers multi-player card games including Texas Hold'em, Omaha, 7 Card Stud and Chinese Poker, as well as sports betting and horse racing.

Online Casino News courtesy of InfoPowa