Casinos.co.uk: Casino News Archive
Thursday 9th November 2006
£20m jackpot for Online Casino Founders
Three Canadian founders of Sportingbet's Paradise Poker business have shared a payout worth more than £20m, after operating profits reached a milestone.
Paradise Poker achieved an operating profit of $150million in the two years since it was acquired by Sportingbet. This milestone triggered the payout, although the total was reached shortly before US legislators passed new anti-gambling laws last month, sparking an exodus of operators from America.
The Paradise payout was made to Bonaire, a British Virgin Islands company, believed to be controlled by three Canadian technology experts. They remain Sportingbet's second largest shareholders, with 11.5%, but their identities have been kept hidden.
Source:OnlineCasinoNews
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