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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.
BEtfair fiscal period Q3 and FY 2015 -
The UK online gambling group Betfair plc has posted its interim management statement for fiscal period Q3 and FY 2015 ended 31 January 2015, reporting an impressive set of key performance indicators that includes:
Revel Deal Still Not Final -
Florida property developer Glenn Straub may have thought his sale agreement and payment of $82 million to the owners of the bankrupt Revel building in Atlantic City sealed the acquisition deal but on Wednesday Judge Gloria Burns refused to ratify the sale and extended the sales window by a further week.
Las Vegas Sands WIns intellectual property case -
The major US land gambling group Las Vegas Sands, owned by multi-billionaire Sheldon Adelson, has successfully concluded another intellectual property case to protect its trademark and brand intellectual property.
New Jersey Senators weigh in on Restoration of the American Wire Act -
Pro-online gambling New Jersey Senators Jim Whelan and Ray Lesniak have joined the Congressional debate on the proposed Restoration of the American Wire Act, corresponding with local media leaders and urging them to publicly oppose the attempt to ban most forms of online gambling.
Bet365 facing legal action in Australia for misleading representations -
One of the industry's biggest online gambling operators, the Coates family's Bet365 group, is facing legal action Downunder from the Australian Competition and Consumer Commission, which claims that the company's free bet or deposit bonus offers made "misleading representations" to punters in breach of Aussie consumer laws.
Mixed earnings results for Sportech -
Sports betting and pools operator Sportech, presenting its preliminary results for the twelve months ending December 31, 2014, said its focus on highly regulated markets had resulted in a strong performance from its Sportech Racing and Digital division and a satisfactory performance from its Football Pools product, however, its Sportech Venues business environment remained challenging.
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