Sportingbet will avoid prosecution in the US after striking an agreement with the US Department of Justice.
The company entered into a non-prosecution agreement with the US Attorney for the Southern District of New York, acting on behalf of the Department of Justice.
Under the terms of the agreement, the SDNY will not seek to prosecute Sportingbet or its subsidiaries for activities relating to its internet gambling business with customers in the US between 1998 and 2006.
Sportingbet has agreed to pay a total of $33m and will cooperate with SDNY to disclose information relating to its former gambling business in the US and adhere to further obligations with respect to its future conduct in the US.
"This settlement enables Sportingbet to draw a line under events of the past," said Andrew McIver, group chief executive. "It is in the best interests of our shareholders and we can now look to the future with increased confidence.
"The process has been complex and has taken a considerable amount of time. Throughout these discussion the board has remained mindful of its obligations to all stakeholders of the group. The resolution of any risk associated with Sportingbet’s former US-facing business, combined with the considerable actions taken by the group over the past three years, ensure that the group is well placed to capitalise on the many opportunities available in the global online gaming industry."
