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Tobey Maguire settles poker lawsuit

Monday, November 28,2011 :  SPIDEY SETTLES POKER LAWSUIT (Update)
 
Settling cheaper than fighting the case
 
Hollywood A-Lister Tobey Maguire has reportedly settled a lawsuit brought against him and others by the bankruptcy trustees of Brad Ruderman a hedge fund investor, who is currently in jail for a ponzi scheme.
 
Ruderman allegedly led High Stakes Texas Hold'em underground poker sessions, that included well known celebrity players Maguire, Nick Cassavetes, Leonardo DiCaprio, Ben Affleck, Matt Damon and Gabe Kaplan, losing millions of dollars of investor money.
 
Court documents indicate that Maguire has agreed to pay $80 000 of the claimed $311 000 in winnings to settle the lawsuit, noting that he had also lost $170 000 to Ruderman and although he "strongly disputes that he violated any laws, rules or regulations in regard to participating in the poker games", that fighting the case would prove to be more costly.
 
Fourteen of the twenty-two people named in the suit have reportedly settled their cases for a total of around $1.2 million.



Recent Gambling News :

Barry Martin 666bet CEO quits - Barry Martin, the high profile CEO at online sportsbetting group 666Bet, stood down a month ago to join the KPI Gaming consultancy in London, leaving the company to find a replacement.

BETTING RACING POOLS FOR DUBAI - Isle of Man-based Premier Gateway International Ltd (PGI) is working with the Emirates Racing Authority as the host of the international horse race betting pools for this year’s Dubai racing season, which includes the Dubai World Cup Carnival.

MORE SPORTS BETTING LEGISLATION IN NEW JERSEY - With litigation still ongoing with the national sports leagues over a previous New Jersey state legislative attempt to get around the restrictive federal Professional and Amateur Sports Protection Act news of another attack on the PASPA surfaced in the Garden State this week.

Nevada Bill SB40 : Illegal gambling Affilites - Affiliate marketers in the Nevada online poker market could be faced with a decision on whether it is really worth continuing to serve local operators if amendments to the state's gambling legislation go through this year.

Kahnawake player dispute statistics - The Kahnawake Gaming Commission's dispute resolutions office has published its report for the full year 2014, noting that 246 complaints were lodged, and 18 outstanding cases from the previous year made up a total of 264 disputes with KGC licensees.

WASHINGTON STATE POKER BILL MAKING PROGRESS - In a routine move applicable to new legislative proposals in Washington State, the state Office of Financial Management has published its fiscal notes on HB 1114, a measure seeking to legalise intrastate online poker introduced earlier this month by Rep. Sherry Appleton

AB167 New California Online Poker bill - California Assemblyman Reggie Jones-Sawyer, a veteran state politician who has been in the forefront of previous (failed) online poker legalisation drives, has introduced a new bill to the Californian House.

Malaysian police Crush 2057 Gambling Computers - "In 2012, we conducted 794 raids and arrested 218 people involved in illegal online gambling outlets. The following year, we conducted 1,440 raids and arrested 167 people."

Asian Betting Exchanges pose a threat to the traditional industry - The traditional industry views interlopers like Citibet and AAStar as a competitive element that dilutes their turnover, and claims that they are a threat to industry integrity and contribute nothing in taxes or fees.

32Red has issued a trading update - Mobile revenues up 89 percent on 2013 and now represent 32 percent of total casino revenues (FY 2013: 21 percent). Over one half of all new players are now recruited via smartphones and tablets, Management reports

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