Sportingbet Shares Hit by Arrest

As reported by the BBC: "Online gaming firm Sportingbet has seen its share price plunge by 40% following the arrest of its chairman Peter Dicks.

"Mr Dicks was held in New York on Thursday under a warrant issued by state authorities in Louisiana accusing him of 'gambling by computer'.

"Shares in London-listed Sportingbet were suspended after the arrest, but when they resumed trading on Monday they sank by 39% to 145.75 pence.

"On Friday, Mr Dicks was granted bail set at $50,000 by a US court.

"Bail was granted on condition that he surrender his passport and remain within the five boroughs of New York..."

2006-09-11