Stop Press: Arrested Sportingbet Chairman
Published: Friday, September 15, 2006 Online-Casinos.com
STOP PRESS:
As Online-Casinos.com/InfoPowa went to press this week more details on the release of Peter Dicks were surfacing. It appears that New York Governor George Pataki's warrant for Dicks's arrest was "withdrawn for further investigation,'' said Nicole Navas, a spokeswoman for Queens District Attorney Richard Brown. The original Louisiana warrant remains in effect.
Gov. Pataki received a formal request from Dicks and his attorney, Barry Slotnick, to withdraw a warrant the governor had signed that would allow Dicks' extradition to Louisiana.
Slotnick said he and his client argued that Louisiana's request for extradition "...is inappropriate and that Peter Dicks has not committed any crimes there or anywhere. He hasn't been in Louisiana for 20 years."
On Thursday in court, Dicks was informed that the governor had withdrawn the warrant. Restrictions on Dicks' $50,000 bail that barred him from leaving New York also were lifted.
"There is nothing pending in terms of any accusations against Dicks in the state of New York," Slotnick told The Associated Press, adding that Dicks was now free to travel back to London, where he lives.
When he's back in court later this month, Slotnick said, "it's our hope that the (Louisiana) warrant at that time will be totally withdrawn."
Slotnick said Dicks is appearing in court New York on September 28 only "...because Louisiana is requesting his presence. But the only one who can order him to Louisiana is Gov. Pataki."
ORIGINAL STORY: 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, 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 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 Online-Casinos.com / InfoPowa reports).
