SportingbetPLC still related to aces.com and sportingbetUSA?

[Newguyintown]

"Under the terms of the Disposal, Sportingbet will retain the URLs and intellectual property of wallstreet.com, aces.com and sportingbetUSA.com though these will not be used for any US gaming purpose."

Yet if you go to sportingbetusa or aces.com you will see the standard note that they are no longer related to Sportingbet in any way. Was confused by that. Can anyone explain this?


New Guy

[bigboydan]

They basicly sold there U.S. gamming operations for $1.00, but I think we all know thats just part of some coperate tactic to get around the legal aspect of things IMO

Heres the offical statement:

Sportingbet PLC sells Sportsbook.com (SBR rating D+) and US-facing business to "existing management team"

Statement: Sportingbet announces that it has sold, on 12 October 2006, its US-facing sports betting and casino business (the “US Operations”) to Jazette Enterprises Limited (“JEL”) (the “Disposal”). Sportingbet received cash consideration of US$1 for the shares and related assets of the US Operations, and has discharged excess liabilities amounting to approximately US$13.2 million. Had the business been closed, the Board estimated that the cost of severance and closure would have amounted to approximately US$14.0 million – a total saving of circa US$27.2 million. Full Statement

The press release suggests that Wallstreet, Aces, and SportingbetUSA (SBR rating D+) will move US players under a different brand, likely Sportsbook.com. Sportingbet Plc has retained ownership of these highly marketable website domains. Paradise Poker will relinquish its share of the US poker market. The poker giant will also be retained by Sportingbet Plc and cease taking deposits from US players at 11:00 a.m tomorrow.

[Newguyintown]

"I think we all know thats just part of some coperate tactic to get around the legal aspect of things..."

So these books are still really Sportingbet you think? Jazette is really a kind of fiction that is really Sportingbet? Does anyone else think this?


"Sportingbet Plc has retained ownership of these highly marketable website domains (sportingbetUSA, aces.com)."

Yes if you go to these websites they say they are no longer owned or affililated with Sportingbet, so something is off here.


New Guy

[pags11]

agree with dan here that this is all part of the plan for these companies switching from public to private...