03/28/2012 : SPORTINGBET GETTING COSY WITH FOXWOODS
Collaborative talks now at an advanced stage
The British online gambling group Sportingbet plc, which made its final exemption from US prosecution payment to the DoJ Monday is reportedly making good progress in its collaborative negotiations with the American land gambling group Foxwoods, according to the London Evening Standard.
Management at Sportingbet has made no secret of the fact that they would like to participate again in the US market, and its talks with Foxwoods have previously been flagged; however the talks are apparently now at an advanced stage and involve the possibility of Sportingbet providing an online platform for intrastate poker and casino games over the coming months as part of a joint venture…clearly contingent on legalization.
Andrew McIver, chief executive, said earlier this week that the final payment to ensure against US prosecution closed any risk which the company may have faced from its former activities in the US.
“Given that the US market continues to show signs of regulating both by product, and by state in the near future, various opportunities exist to re-enter the US market and we are reviewing these,” he said.
Rival 888.com is already firmly positioned to take advantage of any legalization in the US thanks to its partnership with land gaming giant Caesars International Entertainment and applications for Nevada licensing.
In reporting its annual results this week, CEO Brian Mattingley said: “We are more than ready to take advantage of liberalisation in the industry. We have a unique position in the US allowing the launch of a real money offering immediately as either federal or state based regulation is finalised and upon licensing by gaming authorities.”