Sportingbet Plc. chairman resigns after court hearing today

Peter Dicks resigned as the Sportingbet, Plc. non-executive chairman today after a New York City court ruled that he could leave the United States on the condition that he return to New York Sept. 28 for an extradition hearing.

The court hearing took about 10 minutes, during which the court adjourned until the later court date because N.Y. Governor George Pataki's office had withdrawn the governor's warrant necessary to transfer Dicks to Louisiana. Dicks was also given back his passport.

Dicks didn't give a statement after the hearing, but Sportingbet, Plc., owner of Paradise Poker, issued a statement in London saying it had accepted Dicks' immediate departure with great reluctance. According to the statement, Dicks resigned in order to "concentrate on personal matters."

Dicks was arrested last week after flying into New York from London. A routine customs check revealed there was a warrant for his arrest from Louisiana for charges of illegal Internet gambling.

News of his arrest caused Sportingbet, Plc. stock prices to plummet, but they made up some ground today after the news of Dicks' resignation and the results of his hearing. After dropping 41% on the London Stock Exchange Monday, they spiked up 25% at one point today, and finished the day up 16.2% at 178 pence.

News Added: 15 September, 2006

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