Sportingbet Looks to Settle With US by Year’s End
BRITISH online gaming firm Sportingbet is hoping to agree a settlement with US authorities before the end of the year to protect it from the threat of prosecution, said chief executive Andrew McIver.
"I would hope for something in this current year," McIver added.
Sportingbet has been in talks with the US justice department for more than two years over a settlement which would remove a key obstacle to it being taken over by a larger rival.
Analysts say the online gaming sector is ripe for a wave of consolidation.
The Unlawful Internet Gambling Enforcement Act, passed in October 2006, effectively outlawed online gaming in the US.
Rival PartyGaming reached a settlement with US authorities in April last year, agreeing to pay fines totalling £71 million in return for protection from prosecution. 888 is also in talks over a resolution.
