BETonSPORTS CEO Cements Role as Lead Advocate for Regulation In Online Debate with Rep. Jim Leach.LONDON -- David Carruthers David Carruthers (born September, 1957 in Edinburgh, Scotland) was the CEO and a board member of online gambling company BETonSPORTS plc. He served as CEO from July 2000 until July 24, 2006. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of online gaming See gaming. firm BETonSPORTS plc (LSE LSE - Language Sensitive Editor :BSS See 802.11. BSS - Block Started by Symbol ), cemented his role as one of the industry's leading advocates for regulation in an interactive debate with U.S. Congressman Jim Leach. The debate was hosted, and mediated, by the Wall Street Journal Online and was conducted over an e-mail exchange for most of the day on Monday. Leach (R--Iowa) is a sponsor of a bill aimed at prohibiting the online gambling industry through the banking sector, the bill was marked up in a sub-committee earlier this month and referred to the full House Judiciary Committee for another hearing. Carruthers and Leach debated the merits of the bill, which would use the banking industry to police online gambling sties sties 1 n. Plural of sty1. v. Third person singular present tense of sty1. by banning the use of credit cards, checks, and money transfers for Internet wagering transactions. Leach got the debate started by arguing that Internet gambling sites "sweep dollars out of the U.S. into largely unknown, often criminal hands." Carruthers responded by informing Leach that many of the same reasons he, and others, wish to prohibit the industry, are the exact same reasons that he is for regulation. "Prohibiting online gambling would be catastrophic," he said. "Prohibiting the industry would have the exact opposite effect to what the congressman seeks. Prohibition would not stop online gambling, it would send it underground and leave the vulnerable unprotected." The debate continued with Leach and Carruthers exchanging e-mails back and forth. Among some of the highlights of the debate was an open invitation from Carruthers for Leach to visit the BETonSPORTS corporate facility in San Jose, Costa Rica, or even sit down in Washington face-to-face to discuss the issue more, Leach declined the offer to visit Costa Rica saying that it would be "ethically dubious, if not illegal" for him to visit the company's operations. The transcript of the entire debate can be found on a free section of the Wall Street Journal Online, the link is listed below: http://online.wsj.com/public/article/SB114375000762012631- 14PeRy_IGy_Ax75SChM_gejdynE_20070403.html?mod=tff_main_tff_top (Due to its length, this URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) About BETonSPORTS: Established in 1995, BetonSports is one of the largest licensed and publicly-traded online wagering companies in the world. Operated by BetonSports plc (LSE: BSS.L), BETonSPORTS is licensed in Europe and the Caribbean with offices in London, Costa Rica, Antigua, Guatemala, Mexico and Malaysia. BETonSPORTS plc owns and operates 20 different online gambling brands, including the world's most dynamic sports book, a casino, and a poker room. Visit www.BOSplc.com for more information. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement: Statements in this announcement that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. These include risks and uncertainties relating to customer and supplier relationships and prices, competition, market demand, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and other contingent liabilities, the integration and operation of acquired businesses, and economic, political, governmental and technological factors affecting BETonSPORTS plc's operations, markets, products, services and prices, among others, as set forth in public filings. |
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