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Sports Alive : Aussie internet bookie under investigation

Wednesday,  November 30 ,2011 :  According to reports in the Sydney Morning Herald Wednesday, the police have been asked to look into the affairs of the now insolvent and defunct Sports Alive online bookkeeping firm, which operated out of Melbourne.
 
Sports Alive was licensed by the ACT Gambling and Racing Commission, and the regulator requested the assistance of the police when it appeared that the company had operated for two years before its ultimate collapse, despite being technically insolvent.
 
ACT Gambling and Racing Commission chief executive Greg Jones told the Sydney Morning Herald: "They [the police] are considering the information we have given them to see if it is worthy, or if there is significant evidence for a criminal investigation,”
 
Sports Alive, which has been in the hands of the liquidators since late August, stands accused of not segregating player funds from operating capital.
 
Players are among the creditors that are owed a total of A$ 13million, with many unlikely to see satisfaction, the newspaper reports.
 
Also impacted is Tote Tasmania, which owns a 25 percent stake in Sports Alive, for which it paid some A$5 million that it paid an estimated $5 million.
 
The SMH comments: "It could have been worse as the Tote’s annual report of 2009/10 mentioned they were considering taking a “controlling interest.” That will come under a parliamentary committee investigation into the state-owned business that was called after it was revealed the Tote had paid the money whilst the firm was insolvent."

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IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

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Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

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Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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