Sportingbet Chairman Quits Job, Allowed to Leave US

Sportingbet's Chairman Peter Dicks quit his job with the online bookmaker on Thursday, within minutes of a New York City court ruling that he could leave the United States, sending its shares up 25 percent.

Dicks left the criminal court after a 10-minute hearing. He was given back his passport and made no comment but is expected to return home soon. "His intention is to return to the UK shortly," a source familiar with the situation said.

The company issued a brief statement in London saying it had accepted Dicks immediate departure with great reluctance and later said New York Governor George Pataki's office had withdrawn a governor's warrant necessary to transfer Dicks to the state of Louisiana.

Sportingbet's shares rose 10 percent early on amid speculation Dicks might not be extradited to Louisiana to face charges of violating the state's laws against online gambling. News of the court ruling sent them up another 15 percent to close at 192 pence.

Dicks had appeared in court to face charges of "gambling by computer" and was allowed to return to Britain on the condition that he return to New York on Sept. 28 for a hearing on his extradition to Louisiana.

"People feel that this is a more pragmatic approach to gaming firms and is a bit less negative for the company. But the stock is still a long way off from where it was a few months ago. This is still a sector with remarkably little visibility," one dealer said following Dicks's court appearance.

Sportingbet said Dicks had left to concentrate on personal matters and that a new independent non-executive chairman would be appointed in due course.

Dicks's arrest last week at JFK airport in New York followed that in July of David Carruthers, who was then chief executive of BETonSPORTS Plc, by U.S. federal authorities on racketeering charges.

The arrest of Dicks added to fears of a U.S. crackdown on the online gambling industry and wiped over $1.5 billion off the stock market value of the UK-listed sector last Thursday.

"No-one is much the wiser as to what will happen until the September 28 hearing," said a spokesman for an online gaming company who declined to be named.

Investors have been looking for insight into whether Dicks's arrest was linked to Sportingbet's sports betting operations, or whether it also covered other online gambling activities like poker and casino.

Harrah's Moves Away from Coins to Ticket Machines

The sound of winning at Harrah’s Cherokee Casino is about to change. The company is trading in its old coin payout system for new printed tickets that use bar codes to record winnings.

And while the famous sound of coins striking a metal hopper will disappear, the quiet — and clean — tickets are winning customers over.

“I like it better,” said Sara Waldroop, a Macon County resident who plays at Harrah’s Cherokee. “When you go to Biloxi or some other casino, they give you those tickets and it’s so much easier than standing in line at the cashier or waiting for somebody to come and fill the machine.”

The changeover at Harrah’s Cherokee is 83 percent complete with 600 machines to go, General Manager Darold Londo said Monday. On Dec. 8, the $10, $25 and $100 coins will be worthless. Anyone with the coins needs to spend them by that day.

Most other casino companies are phasing out coin slot machines. Harrah’s, owned by the Eastern Band of Cherokee Indians, offers slot machines and video card games.

David Strow, a spokesman with Las Vegas-based Harrah’s Entertainment, said the move toward ticket payouts is a company-wide plan. Harrah’s operates 37 casinos.

“It’s a much, much more convenient way to play,” he said.

Frist Seeks to Attach Internet Gambling Legislation to Defense Bill

U.S. Senate Majority Leader Bill Frist is attempting to use a bill authorizing U.S. military operations, including in Iraq and Afghanistan, to prohibit people from using credit cards to settle Internet gambling debts.

Sen. Frist, Republican from Tennessee, and his aides have been meeting with other lawmakers and officials in both the House and Senate to get the measure attached to a compromise Defense Department authorization bill, according to a Senate GOP leadership aide.

The House passed a version of the Internet gambling measure in July, but the Senate has taken no action on similar legislation. Neither of the defense bills passed by the House and Senate mention it.

Frist is pushing for an approach that isn't quite as sweeping as the House legislation, said the leadership aide and lobbyists tracking the issue. All spoke on condition of anonymity because of the continuing negotiations.

Frist, eyeing a 2008 presidential bid, recently discussed the online gambling measure in the politically important state of Iowa. He also called it a legislative priority in a recent speech on the Senate floor.

The measure's supporters include the National Football League as well as conservative and anti-gambling groups. Some banking groups are lobbying against it.