Sportingbet settles up with US justice dept

SPORTINGBET drew a line under its dealings with the US justice system department as it made its final payment of $6m (£3.76m).

The online gambling company was accused of crimes relating to operating a gambling business in the US between 1998 and 2006.

But the group escaped prosecution by offering a settlement of $33m.

Chief executive Andrew McIver said: “This final payment formally closes any risk which the company may have faced from its former activities in the US.”

But he added that Sportingbet’s stateside activities were not over, saying that he had his eye on several opportunities to re-enter the American gambling market.

Separately, Sportingbet said it plans to fight for its Spanish operations by appealing an injunction which came into effect yesterday.

Spanish casino Codere filed for a series of injunctions against gambling companies operating legally but without licenses, citing unfair competition in an unregulated market.

The injunction against Sportingbet was the only successful application. Sportingbet said the injunction is “based on erroneous information”. Its shares fell three per cent to 38p.