Betcorp Limited updates announcement on Unlawful Internet Gambling Enforcement Act

12 Oct 2006

Following the announcement made by the Company on Monday 2 October 2006 in relation to the passage of the Unlawful Internet Gambling Enforcement Act of 2006 (the "Act") in the USA, the Board of Betcorp has taken extensive advice from its bankers, legal and other advisors as to the strategic and legal implications for the Company and its subsidiary companies ("the Group").

The Board has concluded that, if the Act is signed into law by the US President as presently drafted, the Group will no longer be able to accept funds transfers from customers resident in the United States. Given that a substantial proportion of the Group's customers are located in the United States, this will have a very material adverse impact on the future prospects of the Group.

The Board is exploring various possible courses of action in order to preserve shareholder value in the event that the Act becomes law.

A further announcement will be made in due course.

Language: English Location: Currency: > edit my preferences Home Online Slots Live Dealer Games Online Casinos Online Poker Online Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Exclusive Bonuses Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions		Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW! View the current issue
	Betcorp Limited updates announcement on Unlawful Internet Gambling Enforcement Act 12 Oct 2006 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> Following the announcement made by the Company on Monday 2 October 2006 in relation to the passage of the Unlawful Internet Gambling Enforcement Act of 2006 (the "Act") in the USA, the Board of Betcorp has taken extensive advice from its bankers, legal and other advisors as to the strategic and legal implications for the Company and its subsidiary companies ("the Group"). The Board has concluded that, if the Act is signed into law by the US President as presently drafted, the Group will no longer be able to accept funds transfers from customers resident in the United States. Given that a substantial proportion of the Group's customers are located in the United States, this will have a very material adverse impact on the future prospects of the Group. The Board is exploring various possible courses of action in order to preserve shareholder value in the event that the Act becomes law. A further announcement will be made in due course.