|The fate of Betcorp’s Australian branch Sportsbet is to be decided within a week. Regulators in Australia’s Northern Territory have revealed they expect to make a decision regarding whether Sportsbet will retain its license to operate in Australia within this period of time. The regulatory commission met with representatives from the online company yesterday and the resulting decision will be announced soon.|
The NT Licensing Commission has also confirmed that the central issue concerning, is the involvement in the company of convicted American racketeer Bill Scott. Scott and his background was known by the Commission when the Australian license was issued, but at the time of issuing the organisation also issued guidelines intended to be used to restrict his involvement in the company and prevent him from becoming Betcorp’s main shareholder or the controller of the company.
Betcorp shares were suspended last week after the resignation of three or he four company directors, with a trust in the name of Bill Scott’s family now controlling the three largest stakes in the company. It is these kinds of fact that the NT Licensing Commission will be taking into account whilst deliberating the future of Betcorp in Australia.