Restates Results
By Staff
American online horse race wagering firm has announced that it will be restating last year’s financial report with an additional impairment charge of up to $1.1 million associated with its purchase of the now defunct International Racing Group (IRG)., a diversified provider of technology and parimutuel horseracing content for consumers through Internet and telephone platforms, previously prepared its 2007 financial statement indicating an accrued amount of $3.2 million for the final acquisition of IRG. However, a further review by management indicated an error and now this final amount could rise to as high as $4.3 million.

The California firm stated that the precise amount payable is still subject to claims that may only be determined just before the date any payment is due.

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