Monday July 28, 05:35 PM
Sportingbet says 1 of 2 detained employees denied bail in Turkey
LONDON (Thomson Financial) - Online gaming group Sportingbet Plc (LSE: SBT.L - news) . said one of its two employees detained by the Turkish
authorities in May, related to its Turkish business Superbahis, has been denied bail and continues to be held in custody.
'The group continues to offer him support and is seeking clarification about when and what charges, if any, will be bought,' Sportingbet added. The other employee has been released without charge and has returned to the UK.
Sportingbet said a number of non-Sportingbet employees remain in custody in connection with this matter, some of whom are understood to be connected to the group's former marketing partner for the Turkish market, Maslin Properties Ltd. Sportingbet's relationship with Maslin ended in March 2007.
Sportingbet reiterated it has been gradually reducing its reliance on the Turkish market. However it continues to trade in this market.
For the third quarter ended April 30, net gaming revenue from Turkey accounted for about 14 percent of group net gaming revenue, compared to about 26 percent in the second quarter.
Additionally, since March 1, net gaming revenue from Turkey has accounted for some 9 percent of group net gaming revenue.
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