SAN JOSE, CR — The sale follows a move by
Betcorp to turn away US customers in the wake of the Unlawful
Internet Gambling Enforcement Act, signed into law by President
Bush last Friday. The Act effectively makes illegal financial
transactions to internet gambling companies.
Betcorp said it had "suspended the accounts
of United States residents with immediate effect", in response
to the enactment of the act.
Betcorp had placed a hold on US customer funds
since October 13th.
Betcorp said it was "unable to sell its US
operations prior to the act coming into force", given that
both the ASX listing rules and the AIM Rules required any such
transaction to be conditional upon shareholder approval, according
to the Sydney Morning Herald. Betcorp PLC is a publicly traded
company on the Australian Stock Exchange.
Bodog.com, owned and operated by Forbes cover
story mogul Calvin Ayre, is a privately held company in San
Jose, Costa Rica.
In the wake of the US anti-gambling legislation,
Bodog released a public statement earlier this week claiming
that it would take “months to fully understand the ramifications,
if any, there are from this new law.”
The firm went on to reaffirm its business model
saying, “the pending legislation has validated our broad-based
digital entertainment model and our decision to stay private.”
Source: TheRx.com
Editors Note: Former players of WWTS are now beginning
to see their old accounts re-opened with their new BoDog accounts,
and at the rate they're seeing them re-opened at BoDog, I would
say they hope to have all old WWTS accounts switch over and
re-opened at BoDog by this weekend.
Calvin Ayer said today:
"We’re pleased to announce that today
Bodog.com’s acquisition of Betcorp’s international
infrastructure has officially been approved by the company’s
shareholders. This purchase, the first of many possible international
acquisitions, is part of Bodog.com’s long-term strategy
of expanding its entertainment brand into new global markets,
such as Europe and Asia.
Our customers should take comfort in knowing that
Bodog.com is experiencing stronger growth than ever in all of
its entertainment channels, including gaming, and that this
move marks what we consider to be the beginning of our aggressive
plans to build a truly global entertainment brand"