Betonsports Share Discussion Threads

[chef] 17/7/2006 22:58

because this is specific to BSS and looks like not something new against the company founder

[martincoops] 17/7/2006 22:56

Why should others recover tomorrow?

[chef] 17/7/2006 22:45

they should really suspend the stock tomorrow. Others in the sector should recover

[mattycrowell] 17/7/2006 21:37

I expect this share to fall to perhaps 50p soon.

[roho] 17/7/2006 21:11

BETonSPORTS CEO Detention unrelated to online gambling ban

BETonSPORTS CEO David Carruthers detained in Miami - Copyright
FOTOLIABreaking news of BETonSPORTS plc CEO David Carruthers\'s
detention in Miami travelled lighting fast this morning, shocking the
entire gaming industry and negatively affecting gaming stocks on the
UK Stock Exchange. TheOnlinewire.com Costa Rica and U.S. sources
report that Carruthers\' detention is unlikely related to the online
gambling ban (HR 4411) approved by the House last week but is more
likely related to the federal investigation on BETonSPORTS\'s former
owner Gary Kaplan.

It was known within the industry that Gary Kaplan was under federal
investigation for his actions while at the helm of BETonSPORTS before
the company went public in 2004. Sources report that federal
authorities want to clearly identify possible criminal activities
directly related to credit business ran by BETonSPORTS at the time
Kaplan was at the helm of the company.

According to the same sources Carruthers\' detention is related to the
mentioned federal investigation. Investigators believe Carruthers
might be in possess of information that could lead to Kaplan\'s indictment.

Gary Kaplan is rumored to be the real main man behind
Igotsportsbook.com, a sportsbook established last year after Kaplan
sold his remaining shares in BETonSPORTS.

[roho] 17/7/2006 20:39

DID THEY SENT OUT A FURTHER RELEASE YET? if yes please post it thx!

[thinkbig?] 17/7/2006 17:10

News Alert: Carruthers 'due in court this afternoon


Chief executive of BetonSports David Carruthers will be appearing in court at the Federal Court House in Fort Worth, Texas, at 2pm US Central time according to a spokesperson at the FBI.
Carruthers was detained late on Sunday afternoon at Dallas airport by the US authorities while en route from the UK to Costa Rica.

He was detained by members of the FBI and the Inland Revenue Service (IRS) at around 4pm local time with a warrant for his arrest. He is believed to have spent a night in Tarrant county jail.

According to sources, Carruthers will be charged under the federal racketeering statutes or RICO (Racketeer Influenced and Corrupt Organisations Act).

The Federal warrant has been issued out of state with a sealed indictment. The hearing will determine his rights and the possible bail conditions. Sources indicate he is unlikely to be granted bail. The hearing will also determine which Federal Correctional Institute he will be sent to.

His wife Carol Carruthers was travelling with him but was released immediately. He would have spent a night in the local county jail.

Egaming Review will send out a further release at 8pm London time.

[numon] 17/7/2006 16:58

Check out:

[bones] 17/7/2006 16:37

It does sound like they targetted a specific critic but who knows. Here's some more from a sports betting website, :

[moogies] 17/7/2006 16:14

ONLINE GAMBLING EXEC DETAINED IN U.S.A.

BetOnSports chief delayed in transit

The week's news was off to a flying start Monday as reports appeared in the Telegraph that the high profile CEO of BetonSports, David Carruthers had been detained by US federal officials whilst in transit through the States on his way to Costa Rica. Carruthers is a British citizen and was travelling from the UK with his wife at the time.

A statement from the company released to the London Stock Exchange said it was "seeking clarification as to the basis of the detention" and a further announcement would be made when appropriate. The statement emphasised that the business continues to trade normally and that the Antigua-licenced gaming activities serviced in Costa Rica and Kuala Lumpur are operating as usual.

Shares in the i-gaming sector reacted negatively as the news hit the markets on Monday morning, with BetonSports suffering a drop at one point of over 20 percent. Sportingbet also fell over 10 percent while PartyGaming saw its share price fall 7.5 percent.

Analysts were at a loss to explain the developments. One suggested it was strange such a move should be made before any further legislation should have been made law. Another suggested the US Department of Justice might have a "beef" with BetonSports for "lots of reasons; telephone betting, advertising, the founder."

Carruthers has been a high-profile and outspoken proponent of the regulation of online gambling in the USA rather than prohibition, and was recently quoted as being confident that current moves to ban the industry would fail once the proposals reached the Senate.

BetOnSports is based offshore to prevent it from violating US gambling laws, though it does take bets from US citizens.

Last week the US House of Representatives passed HR 4411, the Internet Gambling Prohibition Act. The bill proposes a further crackdown on internet gambling, and has now been passed to the Senate. To become law, it must be passed by the Senate, where a backlog of legislation means it may never be debated.

[cornelious billy bee] 17/7/2006 15:27

could be the end of the party?

[chef] 17/7/2006 14:55

sudden 10p drop there

[quotes_4_u] 17/7/2006 14:54

Just in time as well, they've slashed 8p off the bid in minutes.

[quotes_4_u] 17/7/2006 14:53

Yeah i'm out again for small profits, bit of fun and excitement.

Think i will avoid the whole sector for now.

[chef] 17/7/2006 14:36

SBT has been hit harder than these so I have bought them.

[quotes_4_u] 17/7/2006 14:04

Decision time.

Did a spread at 111p when it was 115p offer, Ig's spread for some
reason is 4p below the market price but it makes no difference at
all when it comes to trading it.

Can it recover more or is it time to take profits, i did think the
drop was harsh.

[treborbob] 17/7/2006 11:52

Perhaps they just want to open an account?

[chef] 17/7/2006 11:28

Nigel Parson, an analyst at Williams de Broe, said: "This news is going to throw gambling stocks into a spin and it is a fair assumption to expect heavy selling of online stocks when the US wakes up for business later today."

He added: "David Carruthers is a prominent advocate of the pro-online gambling industry and the fear that this is an escalation of the anti-lobby will trouble markets."


Perhaps we should bomb the USA for kidnap of a british citizen

[entos] 06/7/2006 10:13

Get on Betex.More director share buying today!

[nissi beach] 19/6/2006 10:57

Leisure & Gaming to acquire BetShop Group for up to 32.06 mln stg

LONDON (AFX) - Interactive betting and gaming company Leisure & Gaming PLC
said it has agreed to acquire BetShop Group (BSG) for a total consideration of
up to 32.06 mln stg.
Leisure & Gaming said it will initially pay up to 12.69 mln stg in a mixture
of cash and shares. The full additional consideration of 19.37 mln stg is
payable subject to the business achieving its maximum earnings before interest
and tax targets for the years ending December 31, 2006, 2007 and 2008 of 2.65
mln stg, 5.2 mln stg and 7.25 mln stg respectively.
Alistair Assheton, chief executive of Leisure & Gaming said: "Through the
acquisition of BSG we substantially strengthen our European offering and further
diversify our global revenues, in line with our stated strategy."

He added the acquisition, which is expected to complete on June 23, will
enhance earnings in its first full year.

EPS now 19p so at 137p PE only 7

[scarface1983] 15/6/2006 19:20

Same here!