Betcorp - Bodog Deal Still Unannounced
Published: Saturday, October 21, 2006 Online-Casinos.com
BETCORP - BODOG DEAL STILL UNANNOUNCED
But the $9 million sale agreement on BetWWTS is signed, sealed and delivered sources say
Industry observers were still awaiting confirmation today (Saturday) that the sale of BetWWTS by Betcorp to Costa Rican online gambling group Bodog (see previous Online-Casinos.com/InfoPowa reports) had gone through, although several sources told InfoPowa that it was a fait accompli and had been "signed, sealed and delivered."
Informal confirmation by senior executives in both companies confirmed the deal Friday night, but the announcement has yet to be officially made and the Betcorp website as yet carries no statement on it.
Bodog.com founder, Calvin Ayre, admitted to Gambling911.com on Thursday that his company had purchased BetWWTS.com for $9 million but only intended to utilise the European focused infrastructure. "All US players will be paid," Ayre promised.
BetCorp.com froze all US accounts following the signing of a bill to curb some forms of online gambling, mostly via credit cards, last Friday. BetCorp cited concerns over the potential sale of the US facing brands if customers were to begin withdrawing funds en masse.
Betcorp shares staged a major recovery on Friday after reports of the successful conclusion of the deal flashed around the industry. The shares jumped 58 percent, or 15c, to 41c.
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