Stock Research

British Internet-book-maker BetOnSports Plc. has declared today, that stops reception of rates from the American clients. As they say in the message of the company widespread today, representations in Costa Rica and on Antigua Iceland in Caribbean Sea, worked on the American market, will be closed in the near future.
The company could not register business in territory of the USA as the American laws forbid the Internet-totes. In opinion of analysts, closing of the American business actually means the end of the company as three quarters of its proceeds and 95% of profit fall to the USA, and expansion of operations in Asia and the Europe hardly compensates huge losses.
The decision was accepted after on July, 17th of 2006 in Texas on charges in swindle executive director of the company David Karruters has been arrested. According to consequence, illegal reception of rates has allowed BetOnSports to avoid taxes to a total sum more than 3 billion dollars. Next day stocks of BetOnSports have been removed from the trades at the London stock exchange, and thousand clients of the company have demanded immediately to pay money due by it. BetOnSports declares that they are ready to pay, but time is required to the company to convince banks to defreeze actives.
The general turn of the industry of gambling on the Internet is estimated in 12 billion dollars a year. The leader of the market is British PartyGaming Plc., rendering services of the Internet-poker.

This entry was posted on Tuesday, August 15th, 2006 at 6:42 am and is filed under News for investors. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.