Approval -- Shareholders in Queensland-based Unitab today approved a A$4.3 billion merger with Victorian gaming and lotteries operator Tattersall's. The "merger of equals," which has been in the works since March, was at risk of falling apart in June when Victorian gaming giant Tabcorp stepped in with a $1.9 billion takeover bid for Unitab. Tabcorp's bid was rejected in August, however, by the Australian Competition and Consumer Commission on grounds that the combined company would unfairly dominate betting on horse races. Unitab needed at least half of its shareholders to vote, and at least 75 percent voted in favor of the merger agreement. A court hearing is scheduled for Wednesday to approve the scheme of arrangement. Unitab shares will be suspended from trading on Wednesday, but shares in the merged company are expected to begin trading on Oct. 10.
Disapproval -- The government of South Korea announced it is cracking down on citizens who have set up Internet gambling Web sites overseas to circumvent local gambling laws prohibiting betting. The Information and Communication Ministry said that it blocked domestic access to 53 overseas gambling sites in the first week of this month. A total of 181 overseas gambling sites have been blocked since the start of the year.
More Disapproval -- An Illinois-based fraternity is suing a Utah pub owner over an unauthorized online gambling site set up under the fraternity's name. Sigma Chi filed suit on Tuesday in Salt Lake City's U.S. District Court against Penalty Box Inc., which runs a pub in Salt Lake City, alleging trademark infringement and dilution to unfair competition. The suit states that Penalty Box owner Joshua D. Kilgrow, a Sigma Chi alumnus filing under the Penalty Box name, registered the Web site, sigmachipoker.com, with Internet registrar Tucows Inc. in September 2004. Sigma Chi seeks a court order transferring the Web site and related domain names to the fraternity. They are also seeking unspecified damages, court costs and attorneys' fees, along with an accounting of any profits reaped from the site.
Popularity Amid Disapproval -- Yogonet.com reports that Chileans spend US$12 million a year on Internet gambling, despite its illegality in the country. The Chilean Casino Superintendence said that according to Law 19,995, online casino operation is illegal. It also comprises slots, roulette, bingo, cards and dice.
Stock Watch -- Still reeling from the latest legal shakedown in the industry, I-gaming stocks in London took another hit today. Sportingbet fought its way back this week after plummeting 95p on Monday, but fell 20p today to 172. Other losers include Neteller, which dropped 24p to 332 and Fireone Group, which dropped 20p to 174. Playtech closed at 240, down 16p and 888 was down 8.25 to 141.75.