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with more details of the transaction coming out – this is actually not a bad deal for Sportingbet after all. Those guys are very clever negotiators – a classic lesson for any business student especially in acquisitions.
Under the terms of the Disposal, Sportingbet will retain the URLs and intellectual property of wallstreet.com, aces.com and sportingbetUSA.com though these will not be used for any US gaming purpose. In addition, JEL has agreed, for a period of two years, not to take bets from non-US residents and for a period of three years, not to take bets from customers outside the Americas region. Further, Sportingbet has retained the details of all non-US resident customers currently registered with the US Operations. Sportingbet will attempt to migrate those customers to its ongoing European business.The Disposal is subject to a condition precedent that the Act is signed by the President of the United States and becomes law prior to the closing of the 109th Congressional Session. Should the Act not become law by the end of the 109th Congressional Session, JEL is entitled to payment of US$0.5 million, and the US operations will revert back to Sportingbet. from g11
I bet you’ll see a lot more of this. I would imagine all the PLC companies will be looking to move their US facing operations into privately owned companies. By “sell”, you might find that it’s a cover for “move”
