BetonSports.com Suspends US Operations

BetonSports.com, the offshore sports gambling operation targeted by U.S. prosecutors shut down its website late Tuesday night, the day after a federal judge ordered the company to stop letting Americans place bets on sports.

Earlier Tuesday, the site had appeared to be operating normally, offering bets on Major League Baseball and season-opening college football games. The company's founder, Gary Stephen Kaplan, the biggest target in the indictment, was somewhere in Costa Rica. He had nothing to say about the case, according to a spokesman.

Trading of the company's shares was suspended in London on Tuesday. They fell as much as 24% Monday after news that the company's chief executive, David Carruthers, had been arrested and closed down 17 percent. In the fiscal year ended Feb. 5, BetOnSports reported a 65% gain in operating profit on continuing operations to $20.1 million. The company said it handled $1.77 billion worth of bets for the year, up 25 percent.

July 19, 2006
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!