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DEPT. OF JUSTICE QUESTIONS ON INTERNET GAMBLING ACQUISITION

1/27/10 - From http://www.recentpoker.com  - The US Department of Justice is sticking it inquisitive nose into a $126.8 million agreement by the Kentucky horseracing giant Churchill Downs to buy Internet gambling firm Youbet.com....but it's more about anti-trust precautions than the legality of online horserace betting.
 
The US horse racing industry benefits substantially by being exempted from federal laws regarding online betting.
 
This week the horseracing group said that it would cooperate fully with the DoJ regarding the transaction. The DoJ has apparently requested additional information and documentary material in connection with the parties' proposed merger transaction. These actions, commonly referred to as "second requests," have the effect of extending the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended ("HSR Act"), until 30 days after both parties have substantially complied with the requests, subject to any modifications of the requests to which the DOJ may agree.
 
"CDI and Youbet are in the process of gathering information to respond to the second requests and are working cooperatively with the DOJ as it reviews the merger," a spokesman said.
 
In November last year (see previous InfoPowa reports) Churchill Downs and Youbet jointly announced agreement on the deal, which will see CDI acquire all of the outstanding shares of Youbet, in a transaction valued at approximately $126.8 million based on the Nov. 10, 2009 closing price of CDI common stock.
 
CDI, headquartered will substantially increase its Internet betting footprint when the Youbet.com deal is completed. The company is betting that online wagering will keep up a fast pace in an industry that has been sluggish during the recession as gamblers tighten their spending.
 
CDI owns and operates four thoroughbred racing facilities: Arlington Park in Illinois, Calder Casino and Race Course in Florida, Churchill Downs Race Track in Kentucky and Fair Grounds Race Course & Slots in Louisiana.  It also operates slot and gaming operations in Louisiana and Florida.
 
CDI also owns off-track betting facilities, TwinSpires.com and other advance-deposit wagering channels, television production, telecommunications and racing service companies such as BRIS and a 50-percent interest in the national cable and satellite network, HorseRacing TV, which supports CDI's network of simulcasting and racing operations.



Gambling News :

Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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