MORE BREATHING SPACE FOR ULTIMATEBET (Update)

7 November 2008

Ontario Superior Court ruling may extend KGC deadline

 

The Ontario Superior Court ruling earlier this week that Excapsa should contribute to refunds to players prejudiced by its rigged software (see previous InfoPowa report) could mean more breathing space for UltimateBet as it tries to comply with Kahnawake Gaming Commission deadlines.

On September 29 this year, following an independent investigation by online gambling regulation expert Frank Catania, the KGC handed down punitive fines on UltimateBet totalling $1.5 million, together with a list of conditions and deadlines on which its continued licensing depends.

Those deadlines expired on November 3rd and required that UltimateBet refund all prejudiced players, and that any employees or contractors found to have been involved in the debacle be dismissed.

UltimateBet has announced that the process continues, and that it has already refunded some $6 million to players but needs more time...and presumably the cash from the $15 million Excapsa ruling will be useful in achieving further disbursements.

UltimateBet has requested a KGC appearance in order to develop an extension to its deadlines, and in view of the Superior Court's ruling against Excapsa this appears likely to succeed.

Online Casino News courtesy of InfoPowa