Sportingbet chairman arrested

[GrandMaster]

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Miapuesta is a Spanish language Sportingbet site. Try clearing your cookies and changing the language preferences in your browser to English, and you may be able to see sportingbet.com in English.

 

[cipher]

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could somebody post a screen shot of what is the site showing?

As of 08:29 on September 14, 2006

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[jetset]

ARRESTED SPORTINGBET CHAIRMAN RESIGNS

Behind the scenes wheeling and dealing in New York?

Bloombergs business news service reports that the non-executive chairman of Sportingbet plc, Peter Dicks, has resigned following his detention in the U.S. last week on a covert warrant for 'gambling by computer' offences allegedly committed in the state of Louisiana.

Separately, a New York state judge today (Thursday) postponed consideration of a request by Louisiana state police to extradite Dicks to that state on the charges. Judge Gene Lopez set a new hearing date of September 28 and gave Dicks permission to leave the country in the meantime, returning his passport and driver's license.

"He's appeared; he will appear,'' one of Dicks' lawyers told the judge.

Neither Dicks or his lawyers would comment on the charges or extradition to Louisiana, which Dick has pledged he will vigorously oppose.

Sportingbet spokesmen said in a Regulatory News Service statement that the chairman's resignation was accepted with "great reluctance,'' and that Dicks will be replaced "in due course'' as the company's shares surged Thursday on the positive news.

"If you think there's a chance the company might continue to remain in operation, unlike Betonsports, then the stock looks phenomenally cheap,'' said Mark Reed, a London-based broker. "This is hot money betting that this issue has bottomed out, marginally supported by the chief executive leaving.''

Shares of Sportingbet gained as much as 38 pence to 191 pence in London and were up 18 percent to 180.75 pence at 4:07 p.m. local time. The stock is still about 25 percent percent below its last closing price before Dicks' detention was announced, and about 40 percent below the price at which it closed on July 14, the last session before Betonsports said Carruthers had been held.

Dicks, a 64-year-old Briton who also is chairman of London- based Daniel Stewart Securities Plc, was arrested September 6 at New York's John F. Kennedy International airport after getting off a flight from London and held for two days (see previous InfoPowa reports).