BetOnSports Liquidates Assets

August 10th, 2006

BetOnsports has begun selling all of its assets. An insider has reported that there is a major company involved, stating, "someone comparable to Party Poker."

By their actions today, BetOnSports is scaling down too. They have moved all employees (what's left of them) to the 9th floor of their Costa Rican offices located in the Mall San Pedro.

This is significant because BetOnSports had occupied virtually every floor and had hundreds of employees before they began liquidating their assets. Now, just a skeleton crew remains during the transition.

One other inside source who chose to remain anonymous states, "the real reason why BOS did not send back player funds is because of this event. They were aggressively seeking a buyer, they found a whale, and had they (BetOnSports) returned all of the money back to their customers, no one would have been interested in buying them out."

It is expected that BetonSports will be making an "official" statement about this monumental event possible by the end of this week and certainly no later than Monday.

If the sale gets finalized as it is expected to be, then all player funds are safe and secure. The new buyer will simply take over where BetOnSports left off.

How all of this will play out legally with respect to the current indictments handed out to the company by the DOJ office in Missouri is anyone's guess and remains to be seen.

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