bwin Co-CEOs Released on EUR 300,000 Bail
By Andrew B
After lengthy questioning, the two Co-CEOs of the online gambling group Bwin - formerly Bet and Win were released on EUR 300,000 bail, an amount to be paid personally.

Manfred Bodner and Norbert Teufelbergerwere were told they could face up to three years in jail if found guilty of violating gaming laws.

The bail will be used to cover any fines that may be imposed, and to ensure that both Co-CEOs will obey any future summons to appear in court. A verdict is expected within a year.

bwin has informed the examining magistrate that the Company wishes to take part in the proceedings so as to be able to defend its legal position – to date no official court proceedings have ever been instituted against the Company.

The two Co-CEOs will be holding a press conference on Thursday in Vienna at which they will be reporting on their experience in France and their expectations with respect to Brussels.

Trading of bwin shares resumed yesterday with the drop in price being significantly lower than originally anticipated closing 17% down.

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